Product Market Fit

1. Product/Market Fit
tempo
http://tempo.tw

2. Tempo
•2012. Cubie
•Investor: 500 Startups
•Advisor: Andrew Chen, …
•2008. Gamelet
•2004. Willmobile
•http://fb.me/tempofeng
•http://tempo.tw
•
•http://fb.me/pdwtaiwan

3. Agenda
Product
/Idea
MarketFit

4. Agenda
• Product/Market Fit PMF
• Market
• Product/Idea
• Minimum Viable Product MVP
•
•
•
• Pivot

5. An idea is not a mockup
A mockup is not a prototype
A prototype is not a program
A program is not a product
A product is not a business
And a business is not profits

7. •Four Billion-Dollar Startups That Were Told Their Idea Was Stupid
•https://medium.com/life-learning/four-billion-dollar-startups-that-
were-told-their-idea-was-stupid-97a02cfa5e7#.v97rmbdfr

8. The future is extremely hard to see through the
lens of the present. It’s very easy to unconsciously
dismiss the first versions of something as
frivolous or useless. Or as stupid ideas.
https://dcurt.is/what-a-stupid-idea

10. 1. guideline
Market Product/Idea
2. Build-Measure-Learn
MVP PMF

11. Product/Market Fit

13. http://pmarchive.com/guide_to_startups_part4.html

14. 1.
2.
3.

15. In a great market (a market with lots of real
potential customers) the market pulls product
out of the startup.

16. The #1 company-killer is lack of
market.

17. Product/market fit means being in a good market
with a product that can satisfy that market.
The only thing that matters is getting to product/
market fit.
Product/Market Fit

18. Product/Market Fit
1. Retention
2.
3.
4.

19. Product/Market Fit
•
•Retention
•LTV / CAC > 3
•Repeatability, Findability, Scaleability
•…

20. Product/Market Fit
•
• 40%+
•
•
•
•http://www.startup-marketing.com/the-startup-pyramid/

21. Product/Market Fit
•Retention
• 2nd Day Retention
• / /
• DAU/MAU

23. 1.20%
2.40%
3.60%
4.

24. •
• : 40%
• Facebook, Instagram:
50%~60%
• cubie: 30%
•
• Amazon

25. ...

26. Product/Market Fit
• LTV >> CAC
•SAAS
• 3
•LTV

27. Product/Market Fit
•Repeatability
•
•Findability
•
•Scaleability
•
http://www.sachinrekhi.com/how-do-you-know-if-youve-achieved-product-market-fit

28. MVP
PMF
1)
2)

29. Market

30. Market
• Findable? Repeatable?
•
• 0 1
•

31. 1.
2.
3.
4.

32. - Ben Evans
•http://ben-evans.com/benedictevans/2015/2/28/market-size
•
•
•

35. 1.
2.
3.
4.

36. •
• vs
•
•Apple Watch

37. 1. 1000
2. 10

38. 1. 40% )
2. 5%

39. A business creates X dollars of value
and captures Y% of X.
X and Y are independent variables.

40. - Peter Thiel
• 0 1
•http://www.books.com.tw/products/0010651050
•
•
•

41. •
•Network Effects
•
•

42. Network Effect vs Virality

43. •

45. Product / Idea

46. Product / Idea
•
•
•Bundling & unbundling
•Market Size vs Business Model
•Perfect Competition

47. Tell me something that's true, that
almost nobody agrees with you on
- Peter Thiel

48. http://bit.ly/1Qx3D73

49. - Clay Christensen

50. 1.
2. 1/10
3.

51. - Clay Christensen
•
•
•
•
•
•

52. Bundling & Unbundling

53. Market Size vs Business Model
http://tempo.tw/post/141822053360/

54. Perfect Competition
• https://en.wikipedia.org/wiki/Perfect_competition
•A large number of buyers and sellers
•Perfect information
•Homogeneous products
•No barriers to entry or exit
•Every participant is a price taker
•…

55. Market/Idea
Retention
Perfect
Competition
Market Size
vs
Business Model
Bundling &
Unbundling

56. •Market Idea
•
•

57. MVP (Minimum Viable Product)

58. Lean Startup

59. MVP
• Lean Startup
•Build-Measure-Learn
• Idea
•
•

60. MVP
• MVP
•
•Landing page
•
•Kickstarter
•
•

61. MVP - Zaoo

62. MVP - Dropbox

63. MVP - Zappos
https://generalassemb.ly/blog/businesses-that-started-as-a-minimum-viable-product/

65. MVP
• MVP
•MVP
•
• vs
•Zaoo: Flow

66. MVP
•
•
• User
• User

68. •
•User Interview
•
•Landing page
• Funnel
•Retention
•Retention by features
•

69. •Get out of the building!
•
• User Interview
•

70. •
•
•
•

72. •
•
•
•
•
•
http://www.slideshare.net/seanellis/product-driven-growth-from-lean-product-meetup

73. User Interview

74. User Interview

75. Jobs to be Done
https://strategyn.com/jobs-to-be-done/

76. User Interview - Zaoo
1.
2. app
3. User Interview
4. 2~3
5.
6.
7. app

77. User Interview - Zaoo
•
• 300 /
•
•
•
• app
•

78. User Interview -
http://tempo.tw/post/128711124655/

79. User Interview

80. Landing page
Funnel
Retention

81. Landing Page
• Landing Page

82. Funnel
•

83. Retention

84. •
• 40%+
•
•
•
•http://www.startup-marketing.com/the-startup-pyramid/

85. Registration Funnel?
2nd Day Retention?

86. Pivot

87. Pivot
•MVP
•
•

88. Pivot
•Just because something is not working does not mean everything is
not working
•Zoom-in Pivot
•Zoom-out Pivot
•Customer Segment Pivot
•Customer Need Pivot
•Platform Pivot
•Business Architecture Pivot
•Value Capture Pivot
•Engine of Growth Pivot
•Channel Pivot
•Technology Pivot

89. Pivot
•If you’re not growing, you’re dying.
•If your competitors are all dying, and you’re not growing, you’re about to
die.
•If your competitors are all dying, and you’re growing, congratulations — you
won!
•If you’re going to pivot, look at everything you’ve learned and put
everything into the most promising, simple piece of your failed business (in
our case, our email list).
http://calacanis.com/2016/02/14/knowing-when-and-how-to-pivot-or-why-didnt-news-apps-work/

90. MVP
•Social
•
•Network Effects
•
•
•

92. •Product/Market Fit
•
•Market
•
•Product/Idea
• Retention Market
Size vs Business Model

93. •Build-Measure-Learn
•
•User Interview
•
•
•Main Flow Funnel, …
•Pivot
•
• PMF
•Growth