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find dit product market fit med 5 simple skridt

Det er her de fleste startups fejler. 80% af alle startups finder aldrig et product market fit. Lad os gennemgå 5 simple skridt til, hvordan du kan finde dit!

Heini Zachariassen er founder af Vivino, som har fundet så stærkt et product market fit, at de i dag er verdens største vin app og community med over 50 mio brugere. Deres brugere søger efter 2 til 3 mio. vine hver dag! Det kalder vi et product market fit. Men det var ikke nemt at finde. Det tog 18 måneders hårdt arbejde og meget små fremskridt uden særlig mange brugere.

Lad os gennemgå de 5 skridt, der kan guide dig til at lykkes. 

#1 FIND PROBLEM/LØSNING OG BRUGERE 

Start med at spørg dig selv, hvad er problemet og hvad er løsningen? Hvis du kan forklare begge dele på en måde, så de fleste kan forstå det, så er du godt på vej.

  • Problem: Jeg ved ikke hvilke vine der er gode og hvilke der ikke er. 
  • Løsning: Byg en app som kan fortælle brugere om en vin er god eller ikke så god.

Hvis det er svært for dig enten at definere problemet eller løsningen, så har du brug for at definere det skarpere.  

Nu er det tid til at finde de brugere, som du kan tale med for at forstå om dit problem og løsning giver mening. Hvis produktet er relevant for dig, så er det godt. Hvis ikke, så har du brug for at tale med en masse mennesker, som dette problem og løsning er relevant for. Der er ingen genveje her. Du har brug for at forstå problem og løsning her. Det er også her, at du definerer dine brugere. Og NEJ DET KAN IKKE VÆRE ALLE.

Lad vær med at være den founder der tror han/hun er et geni, som kan forstå problemet og finde på en løsning helt selv. Det virker aldrig! Lad være med at være den founder.

Før vi går videre så lad os teste dit problem/løsning. Det kan du gøre ved at se på frekvens og værdi. Hvor ofte vil dine brugere bruge dit produkt og hvor meget værdi skaber produktet for dig? 

I en perfekt verden vil brugerne bruge produktet hele tiden og det vil skabe en masse værdi. I den virkelige verden desværre sjældent sådan det er. 

Du har brug for enten at have høj værdi eller høj frekvens her. 

Hvis du har lav frekvens og lav værdi, så vil dine brugere glemme at bruge det.

Tag Facebook for eksempel.

Frekvens er høj, brugerne bruger det hver dag eller hver anden dag. Og det er selvom at værdien er lav. Det er ikke fordi facebook løser et kæmpe problem. Der er tale om en smule underholdning. 

Lad os se på Uber. De fleste vil ikke bruge det hver dag, lad os sige at frekvensen er medium, men værdien er høj. Når du har brug for et lift hjem, så løser det et stort problem. 

Pointen er, at du kan ændre adfærden hos dine brugere og få både høj frekvens og høj værdi. 

Så definer dit problem og løsning så vel som dine brugere. Vær sikker på, at enten frekvensen eller værdien er høj, måske endda begge ting.

Vivino

  • Problem:Jeg ved ikke hvilke vine der er gode og hvilke der ikke er. 
  • Løsning: Byg en app som kan fortælle brugere om en vin er god eller ikke så god.
  • Brugere: Vin drikere som ikke ved hvilken vin de skal købe.
  • Frekvens: Medium
  • Værdi: Høj

#2  FIND A WAY TO START BUILDING

Find out how you’re going to build it

We all have limited resources and we have to find a way to start building with the resources we have.

Yes, I can start building as soon as someone gives me $20 million, that is not an option. You have to start building with resources you have or have a really good plan for how you can start building. So – find a way to start building with whatever resources you have. If you can’t do that you probably have to move back to #1 to find a solution you can actually start building with the resources you have.

Ask yourself questions like this:

  • Is the problem even solvable?
  • What can we build with the resources we have?
  • Is the technology available, can it even be built?
  • How can you find the customers for this product?

 

You have to find a way to start building, it is pointless to come up with a solution that you can’t build because you don’t know how to start.

Even if you want to build a rocket and go to the moon that is probably not the first rocket you build. You start with a very small rocket that can actually build right now.

#3 BUILD AN MVP ***

Build a minimum viable product, I guess you knew this was coming. What you’re going to build here is really in the word,  Minimum Viable Product, build the smallest possible thing that still delivers some value to a group of early adopters.

You have to be very disciplined here, MVP really means MVP, there are no nice features here, just the smallest possible thing.

Here are some quick tips when building an MVP!

Define core feature and stick to it

Define the core feature and stick to it. Don’t increase scope just build the smallest possible thing.

Build your MVP fast

Make sure you build your MVP fast because if you don’t do that things will drift. You will start adding features. This is an MVP, just get it done as spec’d and that is it.

Get the MVP in front of customers as quickly as possible

Make sure these are real customers, not your friends, find the people that are most deperate for this exact product. Hopefully someone is screaming for your product! Don’t know any customers? Well should you really be building for someone you don’t even know, probably not!

Forget your friends, they’re not really using it, they will give you poor feedback, they will love the product because they love you, that just isn’t useful when you’re building an MVP. Friends and family are what keeps dead products alive. You have to find real potential users of the product.

Get feedback from a small relevant group

There is no point in having a big group test the MVP. It is all about having a small relevant group. Having too many people testing will just create noise and too much less usable feedback.This will be a very basic and not very pretty product. You need feedback from people that really understand that this is an MVP, we don’t need to know that the icons are ugly, they are meant to be ugly.

Now that is how you build an MVP.

#4 FIND THE METRICS FOR SUCCESS ***

These are the numbers that you need to show the progress on the product market fit journey, the numbers that tell you that you are getting closer and closer to a product market fit.

 

Let’s first talk about what you want to avoid here, vanity metrics. Vanity metrics are numbers you follow, but really don’t get you any close to product market fit. Numbers that sound and feel like progress, but they really don’t’ get you any closer to a product market fit

 

An example of a vanity metric is downloads. The number of downloads doesn’t say anything about your product market fit. If you downloads go from 1000 downloads one month and 10,000 the next month it doesn’t mean your closer to product market fit. It could just mean that someone mentioned you in the media, that doesn’t mean your product is good.

 

We need to find the numbers that truly tell you that you are getting closer to a product market fit.

 

We also want to keep it simple. We don’t want to track 10 numbers, but rather focus on a few numbers. I would like to boil it down to two numbers.

 

Retention and Usage.

 

Retention is about finding out if people keep using the product. There is no point in making a product that people use once in then throw away. To get growth you need retention. It doesn’t have to be some fancy numbers. Showing active users also shows retention.

 

At Vivino we used MAU monthly active users and in the very early days we even used Weekly Active users. So find a great number for retention and it could be active users. If you get a lot of new users the active user number my be too high for a short period, so keep an eye o nthat.

 

The second number is usage. How much do your users use the product. It is a measure of activity.

 

For Netflix it could be minutes watched per user per month

For a webshop it could be orders per year

At Vivino we looked at scans per month

 

Basically usage means how much are they using the product.

 

So find your Retention and Usage numbers.There are the two numbers we try and improve to get to the product market fit.

 

I have a full video about the 5 most important metrics, please do check it out.

 

Someone might argue that you need to know how many new users come in and this really is less important at this stage. You need a minimum of users and that is it.

 

#5 BUILD A FAST AND INSANELY AWESOME RELEASE CYCLE ***

 

Yes, I said insanely awesome and I mean that, this is the key to success. You have to build an insanely awesome release cycle, nothing less than that. This is about improving the product fast.

 

We will talk about speed in a second, but first let’s see what is in the release cycle.

 

So here it comes the release cycle it has 7 steps which may seem like a lot, but it really isn’t, they are all important, but most of them also really fast.

 

**** we may start with showing an empty cycle here, just to get them curious.

 

Before I start, make sure this is fun. You will miss this process later, building a product fast is a lot of fun! It is a grind, it can be tough, but it is a lot of fun as things move fast! Later you will miss the old days where you released FAST! There are many things you won’t miss, but you will miss the speed!

 

So enjoy it.

 

***** do a circle here RELEASE CYCLE in the middle.

 

Brainstorm

Look at the feedback, throw all ideas up on a whiteboard. Listen to the team, listen to the users and get all ideas up there.

 

This is not several days, this is one meeting on a whiteboard – 1 hour max.

 

Make sure you engage the entire team so they feel that every idea is listened to. Even the ideas that don’t make it cycle after cycle are still in the brainstorm. It means that whoever came up with the idea feels appreciated even though it isn’t being built just now.

 

Shirt Size

Not all ideas are equal, some take a lot of work other are an easy fix. Shirt sizing means estimating how much work it is to do the feature. Keep it simple, we usually use 3 levels.

 

Small, Medium and Large.

 

Make sure you actually use the scale, not everything is large, it should actually be a third each.

 

Prioritize and Decide

Make sure you know exactly what metric you’re trying to improve here and keep asking yourself will this feature improve that metric. Now take the brainstorm and shirt sizes and decide what you want to build.

 

 

Spec it

No you can’t skip it, you have to do proper specifications on what your building so the team understands exactly what is being built. Again, no skipping this step, it is key.

 

 

Build it

Hopefully you spend the most time here building the actual feature.

 

Don’t let any feature creep in, stick to the specs.

 

Release!

Get it out there and tell all your current users

 

Post Mortem

 

How was the feature received, did we reach our goals, did we actually improve the numbers we set out to improve.

 

In the early days of Vivino we had a weekly release cycle, we released every Friday. It is a little bit slower now, but still very fast.

 

Now to the most important thing with this cycle – speed, the release cycle should be as fast as possible. The faster you can learn and build the faster you will find a product market fit and succeed.

 

******** show some animation of the cycle rotating faster and faster.

 

That is it, now keep going running through that release cycle.

 

Whoever has the best and fastest release cycle will win! Speed is the key here. The faster you can learn from your users and release that the more likely you are to win.

 

If you’re in a competitive situation I will go as far as to say that whoever can build and learn, build and learn at the highest speed will win, the speed here is literally the difference between winning and losing

 

This is the full list, but the crucial next step is to find out do we have a product market fit or not.

 

******** show full list

 

Let’s first talk about hints that indicate product market fit and then we’ll get to a clear indicator.

 

There are hints, for instance if you have a flawed product and the users still keep using it. This was the case with Vivino. Even though the product barely worked a lot of users kept using it.

This means that the users are so interested in the product that they’re willing to live with the flaws and bugs because they want the product badly. Instagram is another example, they crashed all the time in the early days, but people still didn’t move off the platform a clear sign of product market fit.

 

Now let’s go a pretty certain way to identify product market fit and it is that:

 

More and more users

Use the product more and more

 

Going back to the numbers we’re tracking

Retention and Usage.

 

This basically means that both numbers are going up.

More and more users

Use the product more and more

 

For Vivino this meant we had more and more active users and the users scanned more and more wines. That is when we started seeing a product market fit.

 

One thing you have to be careful with is if you the number of new users is growing. Then there is a chance that you look at your active users and it is growing. In the real world is just new users that use it for a short time and throw it away. That is not product market fit.

 

There is a final thing I want to say about product market fit. When my wife was pregnant with our first one we tried to get out of the doctor when exactly we would know that she had gone into labor. His answer was short and precise. When it is there you know, you have no doubt.

 

It is the same with Product market fit, when it is there it is obvious. If you’re not sure if you have a product market fit, you probably don’t have a product market fit.

 

I tell you that when we saw it at Vivino we had no doubt at all.

 

**** show some crazy growing graph, maybe Vivino scans in 2012

 

If you want more content like this please consider pressing Like & Subscribe to make sure you see all the future videos! Thank you very much for watching Raw Startup

 

Now stop watching and go build something!

 

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    • Netflix for online læring – Vælg din mesterlærer og få adgang til timevis af læring med de største mestre indenfor ledelse, iværksætteri og kreativitet i korte tilrettelagte kapitler á ca 10 min.

    • Arbejdsbøger – Tá læringen videre ved at downloade et executive summery inkl. anbefalet litteratur og gode råd fra mesterlæren selv.
    • Podcast – Alle produktioner på lyd. Hvis du er på farten, vasker op eller på cykel, så kan du høre alle produktioner som podcast.
    • Mesterlære Live – live Q & As, håndværk og mere – alt sammen i et sikkert, virtuelt rum fuld af glæde, delte oplevelser og live, interaktiv chat.