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Product - Market Fit Rf - Coggle Diagram

- - - - Earned
        (from Experiences and Observations)
        
        Lived experiences
        
        Emergent behaviours
        
        Total Immersion
      - Unique
        
        Should be underappreciated, not an obvious truth
        
        Obvious truth: 100% like it
        
        Unique: 50% like it
      - Grounded (in at least one dimension of PMF narrative)
  - - - common mistakes
        
        solution - focused insight
        
        low severity
      - better way: customer-centric problem solving
        
        1.what is customer trying to achieve ?
        
        why does customer want this outcome ?
        
        why can't they do this today ?
    - - start small, and expand to adjacent markets
      - categories of target audience attributes
        
        demographic
        
        psychographic
        
        position
    - - common mistakes
        
        products features not user value
        
        how to fix
        
        product's differentiated value on homepage
        
        product tagline
        
        3-5 sub benefits
        
        keep the product focused
    - - common mistakes: focus on short-term & ignore long-term advantages
      - long-term advantages
        
        scale economics
        
        network economics
        
        counter-positioning
        
        switching costs
        
        branding
        
        corner resource
        
        process power
      - short-term advantages
        
        We can’t win in the long-term unless we win in the short-term
    - - short-term traction channel
      - long-term growth
    - - common mistake: surface level
        
        not only revenue
        
        but also pricing, cost structure, and lifetime value
      - business equation
        
        revenue streams
        
        sources of revenue
        
        pricing
        
        willingness to pay
        
        lifetime value
        
        average revenue generated over lifetime
        
        cost structure
        
        fixed vs variable cost
- - - - Parallel (Market Research + Expert & PMF Interview)
        
        PMF Interview
        
        How
        
        Preparing (Reforge 15)
        
        Who is your targeted (How to target)
        
        Now & Future
        
        Different segments & volume for each segments
        
        Source (as a way to validate source of growth)
        
        1 more item...
        
        Message to target
        
        3 more items...
        
        Logistics
        
        Who will run
        
        Setting
        
        Compensation
        
        Conducts (Reforge 16)
        
        Common mistakes
        
        Lack of depth (severity of problems)
        
        2 more items...
        
        Lack of breadth (not consider all dimensions in PMF narrative)
        
        Synthesize the findings (Reforge 17)
        
        Update PMF Narrative (Reforge 18)
        
        Refinement
        
        Pivot
        
        Reset
        
        Outcomes
        
        Clarify riskiest dimensions
        
        How
        
        Dimension with greatest divergence
        
        Dimension with furthest response for hypothesis
        
        Updating PMF
        
        Inputs
        
        PMF Narratives
        
        Market Research & Expert Advice (Reforge 12)
        
        Outcomes
        
        Objective to clarify riskiest parts
        
        Update PMF narrative
        
        Inputs
        
        Experts: investors, mentors, advisors, industry leads, functional experts
        
        Market research: books, blog posts, news articles
        
        How
        
        Market Research
        
        Analogs and antilogs of each dimension in PMF narrative
        
        Analogs
        
        1 more item...
        
        Antilogs
        
        1 more item...
        
        Research who ?
        
        3 more items...
        
        Outputs
        
        1 more item...
        
        When to stop
        
        2 more items...
        
        Expert advices
        
        Analogs & Antilogs to Indentify Potential Experts
        
        Indentiy experts
        
        Drive conversations
        
        Synthesize Findings
        
        Based on the meaningfulness of analogs and antilogs
        
        Level impact of domino effects
        
        Update PMF Narrative (Reforge 13)
        
        Refinement
        
        Increase clarity and depth of PMF narrative
        
        Pivot
        
        Update to one or more dimensions
        
        Reset
    - - Validate 6 dimensions in PMF Narrative
    - - To identify list of risks
  - - - Tools to address & de-risk riskiest dimensions
    - - Surveys (Reforge 20)
        
        Gathering feedback from potential users
        
        Problem to solve
        
        Target Audience
        
        Value Proposition
        
        Business Model
      - Smoke tests (Reforge 20)
        
        Tracking CTR on non-functional page to test users interest
        
        Problem to solve
        
        Target Audience
        
        Value Proposition
      - Prototypes (Reforge 20)
        
        Building lo-fi models of Product
        
        Value Proposition
        
        Competitive Advantage
      - Pre-sales (Reforge 21)
        
        Pitching and advance selling the product to gauge interest
        
        Problem to solve
        
        Value Proposition
        
        Competitive Advantage
        
        Business Model
      - Product tests (Reforge 21)
        
        MVP
        
        Value Proposition
        
        Competitive Advantage
        
        Business Model
      - Growth tests (Reforge 21)
        
        Measuring growth channel against another
        
        Growth Strategy
    - - Which dimension to focus ?
      - Speed
      - Cost
      - Applicability
- - - - NPS
      - Retention
      - Growth
      - PMF Survey
  - - - Why
        
        Growth: we are in good market
        
        Good growth
        
        Volume
        
        Sustainability of growth
        
        Retention
        
        Satisfy the market
        
        Good retention
        
        Flatter retention curve
        
        Engagement
        
        As a leading indicators of retention
  - - - Volume of users
        /
        Segment volume of users
        
        MoM Growth curve
        
        Declining
        
        Flat
        
        Linear
        
        Super Linear
      - Sustainability of growth
        
        Payback Period = CAC/(Monthly Revenue X Margin Percentage)
    - - Retention metrics
        
        Frequency
        
        Core actions
        
        Segment users
      - Evaluating Retention Curve
        
        Trend to Zero
        
        Additional validation to find riskiest parts
        
        Interviews
        
        Surveys
        
        Gradually Decline
        
        Adiditional validation to find riskiest parts
        
        Interviews
        
        Surveys
        
        Flat
        
        Improve other segments
        
        Smile
        
        Improve other segments
      - Level of retention
        
        depend heavily on our ultimate growth strategy (source of growth)
  - - - At product builder phase to Optimize the status