zero to traction
it's really hard.
today's talk:
traction, traction,
traction, traction,
traction, traction
... but how to get it?
first, you need
product/market fit.
then you can optimize
for growth.
0
12.5
25
37.5
50
post Product/Market fit
pre P/M fit
traction.
product/market fit
When people who know they want your product
are happy with what you're offering
... then you're ready to shift your focus from product to
distribution and "win the market."
what P/M fit looks like
Consumer products:
Usage 3 out of every 7 days
Organic growth of 100s of signups/day
30% users are active the day after signup
Clear path to 100,000 users
what P/M fit looks like
SaaS products:
5% conversion rate from free-to-paid
3X CPA to LTV ratio
<2% monthly churn rate
Clear path to $100k MRR
if you have that,
just add water.
Email me:
voodoo@gmail.com
Read more:
http://andrewchen.co
what if you don't have
product/market fit?
then get it done,
before you fail.
Most startups fail before reaching P/M fit.
Usually it takes years, not months, to reach it
product/market fit,
the easy way.
choose your own
difficulty.
(But really, you should take it easy on yourself)
pre-existing product
category
Ideally, many customers who know they want your
product.
They are already looking. They know how to compare
and shop for products like yours.
very large # of
customers "pulling"
Ideally, there's a huge market of pre-existing "pull" for
your product. Validate with searches, ads, etc.
A big market means there's often room to segment.
lots of successful
competition
Ideally there's lots of competition with traction. More
datapoints to figure out what the true MVP looks like.
However, ideally fragmented or incompetent or on a
different platform.
clear axes of
competition
Ideally, it's very clear how you are trying to substitute
for a pre-existing product. Simpler, but different.
Different: Escaping the Competitive Herd
Blue Ocean Strategy
build for yourself
Ideally, you're a superuser of your own product
category, so you can understand what c