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How to know if you've got product-market fit

Lenny's Newsletter

Lenny's Newsletter · 1y ago

How to know if you've got product-market fit

Lenny's newsletter explores product-market fit (PMF) with insights from experts like Marc Andreessen and Steve Blank. It highlights key indicators of PMF, including customer excitement, retention, willingness to pay, and organic growth. The post offers actionable definitions and metrics for both pre- and post-product stages, along with guides to finding PMF and recognizing it through customer behavior and efficient growth.

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Sequoia's Jess Lee will demystify product-market fit at TechCrunch Early Stage 2024

TechCrunch · 1y ago

Sequoia's Jess Lee will demystify product-market fit at TechCrunch Early Stage 2024

Jess Lee will be speaking at TechCrunch Early Stage in Boston to guide founders on achieving and refining product-market fit for their startups. Product-market fit is crucial for success as it determines how well a product or service resonates with potential customers. Lee will provide insights and tips on how to ensure customers are eagerly adopting the product. The event, which features other industry experts, will also include audience Q&A sessions for further discussion. Interested individuals can purchase tickets in advance to avail a discount.

Stop asking “But how will they make money?”

Internet

Internet · 1y ago

Stop asking “But how will they make money?”

Andrew Chen argues that business models for consumer internet products are now commoditized, making the question of how they’ll make money less relevant. Instead, focus on whether the product can engage and retain hundreds of millions of active users. With scalable monetization options available, the primary challenge is achieving product-market fit and large-scale user growth.

For UpGrad’s Mayank Kumar, public capital is better than a private chase

Livemint

Livemint · 1y ago

For UpGrad’s Mayank Kumar, public capital is better than a private chase

Mayank Kumar, managing director of edtech platform UpGrad, advises startups to constantly evolve their product to achieve product-market fit. In a podcast interview, he emphasized the importance of persistence in a founder's journey and shared his own experience of breaking away from family expectations to start his own business. Kumar explained how his passion for education led to the founding of UpGrad and the decision to focus on higher education and upskilling. He also discussed the challenges of accessing capital and the need to constantly innovate in order to maintain product-market fit. Kumar revealed that UpGrad is considering an IPO in the next two years, noting that public capital is currently a favorable option in India's entrepreneurial ecosystem.

The only thing that matters

Internet

Internet · 8m ago

The only thing that matters

This blog discusses the critical factors influencing startup success, emphasizing the importance of market fit over team and product quality. Marc Andreessen argues that while a strong team and great product are valuable, they cannot compensate for a poor market. He introduces Rachleff’s Law of Startup Success, stating that a lack of market is the primary company-killer. The piece highlights the necessity of achieving product/market fit as a crucial milestone for startups to thrive.

Xiaomi's smart ring patent hints at automatic size adjustment feature

Livemint

Livemint · 10m ago

Xiaomi's smart ring patent hints at automatic size adjustment feature

Tech giant Xiaomi is reportedly developing a smart ring that automatically adjusts its size to fit users' fingers. Unlike existing smart rings that require a specific size selection, Xiaomi's design incorporates an outer ring, an elastic inner ring, and spring mechanisms. The elastic materials and springs allow the inner ring to protrude or retract, providing a comfortable and secure fit. The patent also suggests that the smart ring could have advanced technologies like 5G, Wi-Fi, and NFC, making it a potential comprehensive health tracker or device controller. However, it is uncertain if Xiaomi will bring this product to market.

Mahua asks Swiggy to refund ₹1,220 on delivering spoiled ice cream

Inshorts · 7m ago

Mahua asks Swiggy to refund ₹1,220 on delivering spoiled ice cream

Trinamool Congress MP Mahua Moitra on Thursday tagged Swiggy in a social media post to raise delivery issues with the "expensive" ice creams she ordered. "Sorry Swiggy - you've got to up your game. Unacceptable that I ordered expensive Minus Thirty mini sticks ice cream and it arrives spoilt and inedible," she said. "Expecting...refund or replacement asap," she added.

Focus on business problems, not tech: Licious CTPO Ajit Narayanan

YourStory

YourStory · 11m ago

Focus on business problems, not tech: Licious CTPO Ajit Narayanan

Startups should prioritize solving business problems rather than obsessing over technology in their early stages of growth, according to Ajit Narayanan, Chief Technology and Product Officer at Licious. Narayanan advised entrepreneurs to identify business challenges, establish product-market fit, and then implement the right technology. He stressed the importance of having a strong technical partner who understands how to craft the right technology solution. Narayanan also warned against the pitfalls of focusing solely on technology without aligning it with business needs. The panel discussion also featured insights from CPTOs of Yubi and Swiggy on integrating AI and driving innovation through automation.

Wtf is PMF (Product Market Fit)? A detailed answer.

Internet

Internet · 1y ago

Wtf is PMF (Product Market Fit)? A detailed answer.

Achieving Product-Market Fit (PMF) is crucial for product success. PMF, as defined by Marc Andreessen, is a product meeting market needs. This involves understanding user problems deeply before creating solutions. Key strategies include defining target markets, building a Minimum Viable Product (MVP) for testing, and iterating based on user feedback. Success in PMF requires continuous adaptation and user focus. Click on "Source" button below and read in full.

Former Alibaba, 9Unicorns execs float VC fund

VCCircle

VCCircle · 1y ago

Former Alibaba, 9Unicorns execs float VC fund

Former Alibaba India investment head Raghav Bahl and former partner of venture capital firm 9Unicorns Soham Avlani have partnered to launch a new venture capital firm called Promaft Partners. The firm aims to invest in early-stage companies with a strong product-market fit.

Former Tesla president discloses the secret to scaling a company | TechCrunch

TechCrunch · 1m ago

Former Tesla president discloses the secret to scaling a company | TechCrunch

Jon McNeil, former Tesla president and now CEO of DVx Ventures, shared insights on scaling companies at TechCrunch's All Stage event. He emphasized two key metrics: achieving 40% product-market fit, where customers say they can't live without the product, and a four-to-one lifetime value to customer acquisition cost ratio. McNeil's method involves iterative product improvements and disciplined financial management to identify when a company is ready for accelerated growth.

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