Building the best Product Market Fit that attracts investment

While raising investment is key to the success of a start-up company, Having a Product your customers love is key to maximizing this opportunity. This Presentation walks you through the journey of moving from a tech product to a business product.

Transcript

1. How to get the best Product Market-fit to attract Investment Delivered by: Adetuyi Tolu Emmanuel
2. Interesting Facts ➔ Ideation Stage 60% of businesses fail at this stage and never get to the market. ➔ Start-Up 30% of businesses quit due to lack of Product Adoption ➔ Pre - Growth Stage Businesses have successfully move from a tech product to business product.
3. Product Market-Fit PMF is when your product has successfully moved from a Tech Product to a Business Product that suits your customer. Product Market Fit is simply a Product thats fits into her target market and in return brings in revenue with little marketing effort. Dan Olsen defines product-market fit as the end-game where a startup has built a product that creates significant customer value.
4. What is the most important entity in getting a good product market fit? Tip Employee Partners Product Team Customers
5. Just one! Your Customer. They must love your Product They must be able to refer your product to a friend They must be willing to Pay for your Product They must trust your product to solve their problems They must gain value from using your Product
6. How do i get a Product that best suit the Market? Tip Build Measure Learn
7. Product Validation You should be able to validate your idea before you continue on an iterative product development. ➔ Value Do people want this? ➔ Usability Can people figure out your solution? ➔ Feasibility Team + Resources + Timeline ➔ Viability Do you have a clear Business Model
8. Know your target Customers. - User Persona - Buyer Persona Tip Product users sometimes differs from buyers. Show how your solution helps the person in the story reach his or her goals.
9. Choose technology Stack that can scale. Speed Performance Security Migrations Long term trends & Support Scalability Talent Availability Tip This is a strong business decision often ignored by business leaders.
10. Go Agile & create a feedback System Feedback from Sales Team Net Promoter Score Customer Support Accommodate Feature Request Stories & EPIC Setup a Product Team Tip Use Agile tools - Pivotal Tracker - Asana - Trello - Evernote
11. Product Team Business Product Design Engineering
12. Iterate Over Product Design/Development • Build, Measure, Learn • Continuous development • Use Agile Framework • Optimized Experience • Customer Support • Customer Success • Reengagement Tip Use Agile tools - Pivotal Tracker - Google Analytics
13. Know your Numbers Define your Metrics Use Analytics tools Measure Usage Get Comfortable with Product Terms (CAC, Churn rate, OPEX) Tip Measure the effect of your solution on your business and customers.
14. Optimize your Sales Funnel Generate Quality Leads Understand Customer needs Track your sales cycle Automate your Sales Process Tip Use tools such as - Intercom - Hubspot - Salesforce - Zoho
15. Focus on one significant value, only pivot if necessary. Platform pivot Zoom in Feature Zoom out features Product Pivot Tip Decides based on data rather than intuition.
16. Exercise Tip Product Validation on slide 7
17. Thank you! Adetuyi Tolu Emmanuel 07037900456 fb/adetuyitolu twitter/adetuyitolu The truest state of Product Market-Fit is when you no longer drag your customer to pay for your Product.