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Ash Maurya - 10 Steps to Product-Market-Fit - https://www.youtube…
Ash Maurya - 10 Steps to Product-Market-Fit -
https://www.youtube.com/watch?v=1Ge_bb8JJ90
STEP 1. PROBLEM/SOLUTION FIT- Do I have a problem worth solving?
Document Your Plan A - Business Model Generation Canvas
Formulate an implementation Strategy
a. VISION
b. STRATEGY
c. PRODUCT
Hone in on EARLY ADOPTERS First - Maybe 10 customers
They are Sub-segments of customers who the product the MOST - Baby Boomers ready to retire in less than two years - 65 years old
They define the Business Model
Build MVP(Minimum Viable Product) is the smallest solution that delivers customer value - Bonus: and capture customer value i.e. you should charge your customers from day one
STEP2. EARLY TRACTION - Have I Built something people want?
Create a STANDARDIZED Accounting system to measure progress - Dave McLure's Pirate Metrics
ACQUISITION - How Do users Find you?
ACTIVATION - Do Users Have a Great First Exeprience?
RETENTION - Do Users Come Back?
REVENUE - How Do You Make Money?
REFERRAL - Do Users Tell Others?
Deliver VALUE before growth - VALUE Metrics
ACTIVATION - Do Users HAve a Great First Experience?
RETENTION - Do users come back?
REVENUE - How Do You Make Money?
The terrain before Market/Product is riddle with QUALITATIVE LEARNING
Use Trello Board
STEP3. PRODUCT/MARKET FIT - How Do I scale?
IDENTIFY Your ENGINE of GROWTH - GROWTH Metrics - A Startup can focus ONLY ON ONE METRIC
PAID ACQUISITION - How Do Users Find You?
STICKY RETENTION - Do Users Come back?
VIRAL REFERRAL - Do Users Tell Others?
Measure Everything as a COHORT - In statistics, marketing and demography, a cohort is a group of subjects who share a defining characteristic.
Build a CONTINUOUS FEEDBACK LOOP with customers for RAPID hypothesis generation
Use Lean Canvans Metrcis Dashboard
Use Emails Campaign
Breakthrough insights are usually HIDDEN within FAILED experiments
Do not run away fron failure
There is no such things as failed experiements - ONLY UNEXPECTED OUTCOMES - Buckminster Fuller
Top 10 Business Model Pitfalls-
https://www.youtube.com/watch?v=5sn7pZXY5b4&t=4s
LEAN CANVAS BUSINESS MODEL in 20 MN -
https://leanstack.com/is-one-page-business-model
- Email aotrafitoHolyeninaroaarobasy -
https://leanstack.com/users/sessions/new
LEANSTACK WORKSHOP
https://www.picatic.com/run-lean-austin
NumberOne Reason why products fails = Build something NOBODY wants i.e. Building the WRONG product