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What is product market fit ? How do I know when I have achieved it ? I answer these questions in this presentation crafted for the Rise / Next startup program that took place at Cocoon HK in June / July 2014. Product Market fit is an essential milestone to reach at the end of the Customer Discovery process. The material for the workshop is here : https://dl.dropboxusercontent.com/u/18048904/Workshop%20-%20Have%20you%20reached%20Product-Market%20fit.pdf Most of the material inspired by Steve Blank's Startup Owner Manual, Eric Ries's Lean Startup and Alexander Osterwalder's Business Model Generation and blog.
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by Alexandre Wayenberg
What is product market fit ?
repeatable
scalable
profitable
SEARCH
Are you feeling like this ?
PRODUCT-MARKET FIT
referra
l
DIY
rating
buyexi
cted
WORKFLOW
referra
l
enthus
iam m
etrics
buyvision
type
compe
tition grow
th
enoughsize
TOTAL ADDRESSABLE
MARKET
SERVEDAVAILABLE
MARKET
SIZE OF THE OPPORTUNITY
TARGETMARKET
EXISTINGMARKET
KNOWN
PERFORMANCE
MANY
BAIDUSOUTHWESTGOOGLE GROUPON
BRANDINGSALES
DISTRIBUTION
MARKET &PRODUCT
REDEFINITION
MISJUDGELOCALNEEDS
EDUCATIONCYCLE
EVANGELISM
FEW IF RIGHTMANY IF WRONG
NONE NONE
BETTER FITLOCAL
VERSIONDISRUPTIVE
IMPROVMENT
POSSIBLYKNOWN
POSSIBLYKNOWN UNKNOWN
RESEGMENTMARKET
CLONEMARKET
NEWMARKET
ENTHUSIATS
VISIONARIES
CONSERVATIVES
PRAGMATISTS
SKEPTICS
EARLYMARKET
CHASM
MAINSTREAM MARKET=
CROSSING THE CHASM
ENTHUSIATS
VISIONARIES
CONSERVATIVES
PRAGMATISTS
SKEPTICS
EXISTING MARKET
year 1
year 2
year 3
year 4
year 5
year 6
year 7
ENTHUSIATS
VISIONARIES
CONSERVATIVES
PRAGMATISTS
SKEPTICS
RESEGMENTED MARKET
year 1
year 2
year 3year 4 year 5
year 6
year 7
CHASM
ENTHUSIATS
VISIONARIES
CONSERVATIVES
PRAGMATISTS
SKEPTICS
NEW MARKET
year 1
year 2
year 3
year x
year y
year z
CHASM
BLUE OCEANRED OCEANdo the same think different
compete in existing market Create uncontested market space
Beat the competition Make the competion irrelevant
Exploit existing demand Create and capture new demand
Make the value-cost trade-off Break the value-cost trade-off
BLUE OCEAN
WORKSHOP:HAVE YOU REACHED
PRODUCT-MARKET FIT ?
