Sushrut Chafadker

What the 🤬 is Product Market Fit ✅ Product market fit is an eventual outcome, it is only ever a signal of some hope, and even when the true definition is hit it is just for a moment in time. 🚁 The helicopter statement. Product market fit = ❝ When the cost of repeatedly acquiring paying customers at scale drops significantly below what customers pay because organic acquisition has kicked in. ❞ 🔚 Full article in the comments below 👇 for the ❤️ of startups __________________________________ Connect or Follow DeReK WaTSoN Fusion42 F42 In Real Life ___________________________________ #startups #founders #cofounders #venturecapital #angelinvestors

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8 Essential Steps to Build Your Startup Building a startup can feel like drowning in chaos. But it shouldn't be. Here's a foolproof way to ensure you launch. The roadmap emphasizes building on user needs, radical innovation, and rapid iteration. 1. Define Your ICP (Ideal Customer Profile) 2. Conduct User Interviews to Identify Tension Points 3. Select a Critical Opportunity to Address 4. Explore How Others are Trying to Solve This 5. Run a Brainstorm to Find THE BEST Solution 6. Prototype Your Solution into a Testable MVP 7. Test Your MVP with Users Who Match Your ICP 8. Build a Launch and Growth Roadmap Repeat and refine: Iterate through steps 1 to 7 to perfect your solution. Develop a clear plan for launching and scaling your business #startup #startupsuccess #founders

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Topic of the Week: 𝐎𝐧𝐛𝐨𝐚𝐫𝐝𝐢𝐧𝐠 I often see SaaS companies focusing on adding features, hoping for better results, but often neglecting the onboarding process. 𝗧𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗺𝗼𝗺𝗲𝗻𝘁𝘀 𝗮 𝘂𝘀𝗲𝗿 𝘀𝗽𝗲𝗻𝗱𝘀 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗮𝗿𝗲 𝗰𝗿𝘂𝗰𝗶𝗮𝗹 𝗳𝗼𝗿 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝗲𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗮𝗰𝘁𝗶𝘃𝗮𝘁𝗶𝗼𝗻. While conversion and retention are key KPIs, the Activation Rate (AHA moment) is equally important, especially for PLG (Product-Led Growth) products. Here are 3 strategies I implement in companies to enhance onboarding: 1️⃣ 𝗠𝗮𝗽 𝘁𝗵𝗲 𝗨𝘀𝗲𝗿 𝗝𝗼𝘂𝗿𝗻𝗲𝘆: Document every action a user takes to achieve meaningful value with your product. Categorize these steps into ESSENTIAL and NON-ESSENTIAL. Don’t hesitate to remove non-essential steps to accelerate the time-to-value and maintain user engagement. 🗺️ 2️⃣ 𝗖𝗼𝗹𝗹𝗲𝗰𝘁 𝗨𝘀𝗲𝗿 𝗙𝗲𝗲𝗱𝗯𝗮𝗰𝗸: You don’t need a UX research team to understand your clients. Schedule calls with new users to observe their onboarding experience firsthand. Address their pain points and actively listen to their feedback. 👂 3️⃣ 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗣𝗮𝘁𝘁𝗲𝗿𝗻𝘀: Track user behavior from the outset. Believe me, implementing this early can provide invaluable insights. Bonus tip: Embrace A/B testing whenever possible. It’s a powerful tool. Don’t be afraid of it! 📊 How are you optimizing your onboarding process to boost user activation? #SaaS #UserOnboarding #UserExperience #Product #ProductManagement

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### 📈 Systemize Your Success: 5 Proven Frameworks for Business Growth 🚀 I am constantly trying to remove friction from my day🌟 Here are some of the tools I am working with currently to remove as much friction as possible 🧩 🎯 The Zapier + ChatGPT Power Combo - Automate lead generation and nurturing - Connect your apps and streamline your workflow - Personalize your marketing at scale Zapier and ChatGPT are the ultimate duo for business growth! 🤖💬 🏗️ The Make Mastery Framework - Integrate your tools and automate your processes - Create custom workflows without coding - Scale your operations with ease With Make, you can build the business of your dreams! 🛠️💡 🧩 The Smartsuite Success System - Manage your projects, tasks, and clients in one place - Automate your invoicing and expense tracking - Collaborate with your team seamlessly Smartsuite is the key to unlocking your business potential! 🔑💼 ✅ The ToDoist Productivity Protocol - Prioritize your tasks and stay focused - Set reminders and crush your to-do list - Achieve your goals faster than ever ToDoist is the secret weapon of highly effective entrepreneurs! 🎯⏰ ⚡ The Superhuman Email Efficiency Engine - Achieve inbox zero in record time - Respond to customers lightning-fast - Delegate emails to your team effortlessly With Superhuman, you'll be an email ninja in no time! 🥷📧 **Bonus: 📅 The Taplio Social Media Mastery Method** - Automate your posting and grow your audience - Recycle your best content for maximum engagement - Monitor your messages and comments from one inbox Taplio is the social media manager you've always dreamed of! 📱👥

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Strategic Prioritization in Product Management: An Introduction (3/3) In my previous posts, we covered the Kano and Value Complexity methods, as key approaches to strategic prioritization in product management. Today, I'll wrap up this series by discussing the Pairwise Ranking, which TBH, I find may show surprising results. 5. Pairwise Ranking When to Use: - When you need to prioritize just a few (lesser than 12) items. - Effective for teams looking to build consensus through comparative evaluation. Shortcomings: - Requires an intuitive understanding for each item. - Might require additional analysis to break ties and rank closely rated items. - If a good uni-modal histogram does not come out, you may need to try something else. Team Involvement: - Product Managers, Engineers, and key stakeholders. Customer Involvement: - Low to Moderate. Customers may provide input on the importance of items, but the team conducts the pairwise comparisons. Understanding and choosing the right prioritization method can make a significant difference in your product's success. Each method has its strengths and weaknesses, and the key is to select the one that aligns best with your team's needs and project goals. Later this week, I'll be talking about how much can be prioritized, what stages are best, and other thoughts that need to be added into the mix. What prioritization methods have you used in your projects? Share your experiences in the comments!

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Mistakes that I make as a #ProductManagement Mentor/ Leader Mistake #2 Setting the same mentoring/ working model for all the mentees And not taking their strengths, development areas, working style into consideration and not adjusting the mentoring/ working model for each person differently

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Are you tired of being told by sales what features they need to bring more clients? Is there a better way to manage your product? Answer: Product-led Growth (PLG)! Here's most of what you need to know: 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗣𝗟𝗚? PLG is a growth strategy where the product itself is the main driver of customer acquisition, engagement, and retention. Rather than relying on sales and marketing to drive growth, it's the product that sells itself with well-crafted demos, time-limited access, and embedded viral-growth features. 𝗧𝗵𝗲 𝗖𝗼𝗿𝗲 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗣𝗟𝗚 • Lower Client Acquisition Cost (CAC): As the product sells itself, you can expect a lot of organic traffic visitors to seamlessly become paying customers. • User Empowerment: Rather than making any promises, users can check the product out before using their credit card. • Sustainable Growth: PLG sets the stage for long-term, sustainable revenue through user-driven growth and word-of-mouth referrals. 𝗞𝗲𝘆 𝗖𝗼��𝗽𝗼𝗻𝗲𝗻𝘁𝘀 𝗼𝗳 𝗣𝗟𝗚 • Acquisition: Build the product in a way that users want to share it with their friend circle—for example, by providing rewards for any new referral. • Retention: Ensure the product is easy to use and the value it brings is crystal clear. Focus on the Eureka moment (if you don't know what that is, become a follower, I will talk about it soon) • Monetization: Enable users to easily sign up for a paid version. Consider non-aggressive upselling for happy users.    𝗔𝗱𝗼𝗽𝘁𝗶𝗻𝗴 𝗮 𝗣𝗟𝗚 𝗠𝗶𝗻𝗱𝘀𝗲𝘁 PLG focuses on the long game and improving the product so that it can convert more and more leads into paying users. As it gets better, the number of organic leads increases, resulting in high lead-to-paying user conversion rates that skyrocket growth! 𝗪𝗵𝘆 𝗡𝗼𝘄? The market is shifting. Buyers are more informed and have higher expectations. They want to see the value before they commit. Companies like @Dropbox have thrived using PLG, showing that when done right, it leads to a more engaged, loyal user base and a robust growth engine. 𝗥𝗲𝗮𝗱𝘆 𝘁𝗼 𝗗𝗶𝘃𝗲 𝗗𝗲𝗲𝗽𝗲𝗿? For a comprehensive guide on implementing PLG tactics and measuring their success, check out Amplitude's Product-Led Growth Guide Volume 2: How to Get Started with PLG at https://bit.ly/45xyErA , who partnered with me on this post! So, what do you think? Does your company run the sales or product-led growth? Or does it work differently for you and your company? Sound off in the comments! #ProductLedGrowth #PLG #productmanagement

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Wrapping up an amazing 10 days in Berlin, running Design Sprints with a super cool startup in the dev tools space. So much good energy. So much fun. Quite often when folks think Design Sprints, they imagine consumer apps or B2B SaaS products. Can Design Sprints also work with potentially complex developer tools and services? Absolutely. In fact, I can’t imagine going at it any other way. Having helped create many dev tools, services, and platforms over the years, I’ve seen first-hand time and time again how easy it is to get stuck building for months on end, only to learn (surprise!) that a team built the wrong thing, built too much, shipped too late, or just couldn’t get off the launchpad. Design Sprints break this cycle by putting your big ideas in contact with reality in just 4-5 days. The format forces a level of brevity and clarity that lets the core essence of those big ideas really take center stage. Most importantly, it helps teams learn and refine their thinking quickly based on direct insights from their target users. If the cost of running a Design Sprint is less than the cost of being wrong about a big bet, then it’s time to sprint.

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The Average Conversion Rate on Shopify is 3% 😰 97% of visitors to an e-commerce site leave without buying. Completely crazy, right? For comparison: A general physical store converts 20 to 40% of its visitors. A "specialized" store: 40 to 60%. A supermarket: 60 to 90%. This is why DNVBs and e-commerce brands must continuously allocate budget to ads to fuel the machine. Because when they pay to bring in 100 people, they only convert 3. The problem is huge. It needs to be solved. And to do that, we need to understand why: First, 70% of visitors abandon their carts. The reasons? -Unexpected costs (delivery fees: a classic) -Mandatory account creation (thanks to "guest checkout") ❤️ -Complicated or lengthy checkout process -Insufficient variety of payment methods -Lack of information about a product or delivery And the list goes on. These are the first 70% that must be worked on and optimized. 70% + 3% = 73%... Okay, where are the remaining 27%? 😅 These are the ones who don’t even add to the cart. They didn't get enough information to take action. They got distracted while browsing the site. And of course, the curious ones who compare and seek information. At CoCo AI, our mission is to help e-commerce stores recover some of that 97% through AI and WhatsApp. We operate in several areas: 👉 We convert more site visitors with our AI chatbot that advises and guides visitors towards a purchase. 👉 We recover those who abandon their carts by sending reminders via WhatsApp (98% open rate -> we are sure the reminder is seen). 👉 We ensure brands are always seen by their visitors and customers through WhatsApp campaigns that open personalized conversations. We don’t see it yet, but the brands that take these matters seriously will have a significant advantage over others in a few months. And the best time to start is now!

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Why I Prefer Investing in Post-Revenue Companies #shorts Discover my strategy for investing in companies with existing revenue streams. Investing in post-revenue companies allows me to bring influencer strategies that can be implemented immediately, maximizing growth potential. I've funded pre-revenue companies, too, but the impact is more significant when there's already a product in the market. Being able to advise strategically is where I find the most value in my investments. Want to learn more about my investment strategies? Head to influence.vc! #investing #postrevenue #entrepreneurship #businessgrowthstrategies

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Strategic Prioritization in Product Management: The North Star Approach Strategic prioritization is crucial for the success of any product. Over the past few posts, we've discussed various prioritization methods. Today, we'll delve into the North Star approach, a powerful strategy for guiding teams toward their ultimate product goals.  Unlike the past few posts, this one is specific to the Product Executive.  Between all the customer asks, executive vision and bug fixes, this one is truly about labeling the Product strategy. The North Star approach revolves around identifying a single, overarching metric that aligns the entire team and drives long-term growth. This metric, known as the North Star, serves as a guiding light, ensuring that all efforts are focused on what truly matters for the product's success. When to Use: - When you need a clear and unified focus for your team. - Ideal for startups and growing companies seeking to establish product-market fit. - Effective in aligning cross-functional teams around a common goal. Shortcomings: - Can lead to an overly narrow focus - Requires careful selection of the North Star metric to ensure it truly represents the product's success. - May need adjustment as the product and market evolve. Team Involvement: - Product Leaders: Define and champion the North Star metric. - Executives and Leadership: Ensure alignment with overall business goals. - Cross-functional Teams (Engineering, Marketing, Sales, Customer Support): Align their efforts and track progress toward the North Star. Customer Involvement: High. Customer feedback is crucial in defining a North Star metric that reflects product-market fit. Emphasis on Product-Market Fit and Business Alignment: For the North Star approach to be effective, it must emphasize product-market fit and the duality of balancing customer needs and business objectives. Here are some examples of North Star metrics that achieve this dual focus: - SaaS Company: The Business Objective is "Monthly Active Users" that reflects customer engagement and satisfaction, driving subscription renewals and revenue growth. - E-commerce Platform: The Business Objective is "Average Order Value" or "Repeat Purchase Rate" that balances customer purchasing behavior with revenue targets. - Social Media App: The Business Objective is "Daily Engagement Time" that indicates user satisfaction and platform stickiness, leading to higher ad revenues. By concentrating on a North Star metric that aligns with both customer needs and business goals, teams can ensure their efforts are driving the product toward sustainable success. This dual focus helps maintain a balance between delivering value to customers and achieving business profitability. What North Star metric does your team focus on? How has it helped align your efforts and drive success? Share your experiences in the comments!

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Miro's current annual revenue is $𝟰𝟳𝟱𝗠. How? Simple. 𝗧𝗮𝗿𝗴𝗲𝘁 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗽𝗲𝗼𝗽𝗹𝗲. 🎯 Different user personas represent the various faces of your audience. Each with distinct needs, challenges, and behaviors. 𝗠𝗶𝗿𝗼'𝘀 𝗖𝗮𝘀𝗲 Miro adopted a strategy focused on end users. They built and positioned their product around teams as personas. Their approach: 1️⃣ Bottom-up GTM Strategy > Miro's platform is designed for self-service. > Individuals can start using it without the need for executive approval or a complex sales process. > Individual users discover the value of their product and organically share it with their teams. > This leads to wider adoption within organizations. 2️ Balancing User and Buyer Needs > Miro develops features to meet the security and compliance needs of enterprise buyers. > But they maintain a strong focus on the usability and productivity features that matter most to end-users. > By satisfying end-users, Miro can influence purchasing decisions from within the organization. 3️ User Persona Segmentation > Miro segments its users into distinct personas. > Each group has unique needs and preferences. > Miro continuously gathers data on user behavior, sign-ups, upgrades, and churn to refine their product and marketing strategies. 4️ Multiple Points of Entry > Miro doesn't rely on a single type of user for adoption. > User persona diversification allows them to penetrate different departments within an organization. If the teams love the product, they will champion it to their organization. That's their method of penetration. 🎯 The result? 𝟵𝟵 𝗼𝘂𝘁 𝗼𝗳 𝟭𝟬𝟬 𝘁𝗵𝗲 𝗙𝗼𝗿𝘁𝘂𝗻𝗲 𝟭𝟬𝟬𝘀 are Miro customers. Their 2020 user base of 3M grew to 𝟲𝟬𝗠 𝘂𝘀𝗲𝗿𝘀 𝗶𝗻 𝟮𝟬𝟮𝟯. 𝗗𝗼 𝘆𝗼𝘂 𝗻𝗲𝗲𝗱 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘂𝘀𝗲𝗿 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝘀? 𝗛𝗼𝘄 𝗧𝗵𝗲𝘆 𝗚𝗿𝗼𝘄's newsletter has a great checklist to help you find out. It's attached below. 👇 Simply put, just ask yourself... > Does my product serve distinct user types? > Can each persona become a growth catalyst? > Will addressing multiple personas increase my product's adoption? How have user personas shaped your strategy? 💬 #SessionReplay #CustomerExperience #ProcessMining #DigitalExperience #Observability #startups #growth 🛎 Follow me to stay ahead with the latest UX insights. PS. Are you experiencing a drop in users? You definitely have a UX problem. Take it from someone with a 91% customer retention rate since 2014. Our clients include eBay, Pepsico, and American Airlines. Germain UX provides you with the insights to identify causes of UX frictions. Send me a private message with "FREETRIAL" and I'll find a way to get you a free trial link.

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𝗨𝗻𝗹𝗼𝗰𝗸 𝘁𝗵𝗲 𝗦𝗲𝗰𝗿𝗲𝘁𝘀 𝘁𝗼 𝗦𝗰𝗮𝗹𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 🚀 Scaling a startup is both an art and a science. Here’s a concise guide to help you navigate this critical phase: 𝗦𝗼𝗹𝗶𝗱𝗶𝗳𝘆 𝗬𝗼𝘂𝗿 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻: Before scaling, ensure your business model is robust. Validate your product-market fit and streamline your operations. 𝗦𝗲𝘁 𝗖𝗹𝗲𝗮𝗿 𝗚𝗼𝗮𝗹𝘀: Define what scaling means for your startup. Set measurable objectives, such as revenue targets, user growth, or market expansion. 𝗕𝘂𝗶𝗹𝗱 𝗮 𝗦𝗰𝗮𝗹𝗮𝗯𝗹𝗲 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: Invest in technology and processes that can grow with your business. Automate where possible to handle increased demand efficiently. 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻 𝗬𝗼𝘂𝗿 𝗧𝗲𝗮𝗺: Hire strategically. Look for talent that not only fits your current needs but also brings skills to drive future growth. Foster a culture of continuous learning and innovation. 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲: Scaling should not compromise quality. Prioritize customer satisfaction to retain and attract loyal users. Use feedback to continually improve your offerings. 𝗦𝗲𝗰𝘂𝗿𝗲 𝗙𝘂𝗻𝗱𝗶𝗻𝗴: Assess your financial needs and explore funding options. Whether it’s venture capital, angel investors, or crowdfunding, ensure you have the necessary resources to fuel growth. 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗲 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀: Leverage data-driven marketing to reach a wider audience. Utilize social media, content marketing, and SEO to boost visibility and engagement. 𝗙𝗼𝗿𝗺 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: Collaborate with other businesses to enhance your capabilities and reach new markets. Partnerships can provide additional resources and credibility. 𝗠𝗼𝗻𝗶𝘁𝗼𝗿 𝗞𝗲𝘆 𝗠𝗲𝘁𝗿𝗶𝗰𝘀: Keep a close eye on performance indicators such as customer acquisition cost (CAC), lifetime value (LTV), churn rate, and gross margin. Use these metrics to make informed decisions. 𝗦𝘁𝗮𝘆 𝗔𝗴𝗶𝗹𝗲: Be prepared to pivot if necessary. The market landscape can change rapidly, so maintaining flexibility in your strategies is crucial. 𝗟𝗲𝗴𝗮𝗹 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Ensure your business complies with all relevant laws and regulations. This becomes increasingly important as you scale and expand into new markets. 𝗞𝗲𝗲𝗽 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗻𝗴: Don’t rest on your laurels. Continuously seek ways to improve and differentiate your product or service. Innovation is key to staying competitive. By following these steps, you can effectively scale your startup, turning your vision into a thriving, sustainable business. Remember, scaling is a marathon, not a sprint. Stay focused, adaptable, and driven by your core mission. #Entrepreneurship #TechSuccess

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🔍 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞: 𝐃𝐞𝐥𝐭𝐚 𝐯𝐬. 𝐋𝐮𝐟𝐭𝐡𝐚𝐧𝐬𝐚 𝐀𝐩𝐩𝐬 ✈️ As someone who constantly thinks from a product angle, I can't help but analyze the apps and tech I use regularly. One comparison that always catches my attention is the Delta App versus the Lufthansa App. 𝐇𝐞𝐫𝐞'𝐬 𝐰𝐡𝐚𝐭 𝐩𝐮𝐳𝐳𝐥𝐞𝐬 𝐦𝐞: With the Delta App, I can see my miles updated within 30 minutes after I get off the flight. But with Lufthansa, it takes several days for the same update🤔 🔍 𝐌𝐲 𝐓𝐡𝐨𝐮𝐠𝐡𝐭𝐬: 𝑹𝒆𝒂𝒍-𝑻𝒊𝒎𝒆 𝑼𝒑𝒅𝒂𝒕𝒆𝒔: Delta's ability to show miles almost instantly is impressive and keeps the customer informed and satisfied. This level of efficiency is what every app should strive for. 𝑫𝒆𝒍𝒂𝒚𝒆𝒅 𝑼𝒑𝒅𝒂𝒕𝒆𝒔: Lufthansa's delay, on the other hand, is frustrating. It feels outdated and less responsive. In today's fast-paced world, waiting days for an update just doesn't cut it. 𝐏𝐫𝐨𝐯𝐨𝐜𝐚𝐭𝐢𝐯𝐞 𝐓𝐡𝐨𝐮𝐠𝐡𝐭: If Delta can update miles within 30 minutes, why can't Lufthansa? It's a clear example of how different approaches to product management and technology can vastly impact user experience. It makes me wonder: What processes and technologies are in place at Delta that Lufthansa could adopt? It's time for more airlines to prioritize real-time, user-friendly updates. Let's push for better, faster, and more efficient tech solutions in every industry. 🌐✈️ #ProductPerspective #TechAnalysis #DeltaVsLufthansa #UserExperience #RealTimeUpdates #Innovation #Efficiency #ChallengeTheNorm

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Do you use your unbuilt product? You should. We’ve recently run five prototype tests about a planned feature of Airtime. We decided to adopt the proof-of-concept version of this feature in our daily workflows. This approach offered two staggering insights: 1. Got a deeper understanding of customer insights Our own expectations were elevated because we depended on our tool to perform a key part of our workflow. This provided us additional empathy with our users. We noticed that we started to interpret feedback from the prototype tests differently - with an additional layer of understanding. 2. Discovered black spots As people recounted their workflows during our prototype test, it was inevitable that they omitted some details. Additionally, some feelings like uncertainty or lack of trust don’t surface in a test environment. By going through the workflow in our tool again and again, we had the chance to uncover such black spots that we could validate in tests later on. Have you tried this approach? I’d love to hear some stories what else you learned by adopting the POC of your product.

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Should you as a founder show vulnerability/unhingedness in front of VCs and let your guard down? Short answer: 9 out of 10 times, no, unless you're very visibly the sort of founder nobody would wanna bet against (read visibly great results). Longer answer: VCs are in the pattern recognition business. They're not just looking for patterns in your business model and product and market, but in your personal traits, too. If they're gonna have 1 or very few interactions with you, and your guard is down in those few instances, they could perceive you as weak, possibly incompetent or too inexperienced. They may not tell you, but pattern recognition works that way. One may argue that VCs who have been in the game for a long time may have dropped these biases (to adopt new ones), but I'd argue those VCs are less than 10 or 20% of all VCs. Every VC secretly wishes you're the founder they can invest in right now, but subconsciously they kinda have to look for reasons not to. And they do so by thinking of all the past founders they invested in, how those founders looked/sounded/acted like and whether you're kinda similar or different. The traits of a competent person in a low moment may be hardly distinguishable from those of an incompetent person. Add gender, ethnicity, accent, what you're wearing, where you worked at, and the culture of dynamics of the region the VC is in to the mix and boom. It becomes a mess. The only time when it's probably okay to let your guard down might be when you have established a relationship with them over a long time and your results have spoken for themselves or you are extremely in control of your public persona, so your personality, no matter how "differentiated" won't negatively affect the process 😅 It's very common for founders to be...weird, and in places like Southeast Asia this is not very often talked about so I thought I'd share :D The best people to be vulnerable/completely unfiltered with are nobody but other founders. That's why we've built LL. You get your own small tech CEO peer group with frequent video calls, and access to a broader community that's super supportive. Sign up today to get your CEO peer group – link in comments 💥

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Product Positioning consists of four elements: 1️⃣ your product 2️⃣ target customer 3️⃣ alternative(s) 4️⃣ your differentiation As markets change and mature... one or more of the above elements will need to change. In general, markets move through three stages of maturity: Stage 1: immature Stage 2: emerging Stage 3: mature If your product is an immature market, your target customers won't even be doing the activities required by your product. Picture it's 2005 and nobody is doing cold plunges, and you're trying to sell an ice bath. You can't say: "here's why our ice bath is better than other ice baths" (because no one has any frame of reference of why they'd need one) You also can't say: "here's why ice baths are the best tool for cold plunges" (because nobody is doing cold plunges) You have to FIRST convince people to consider doing cold plunges. And you do this by finding an unmet desired outcome (i.e. enhance mental resilience) and positioning your activities as the best way of achieving that outcome when compared to alternative activities. The essential elements in stage 1 are: 🟦 an unmet desired outcome for your target audience 🟫 the activity you're wanting them to consider ⬛ the alternative activities you're trying to replace ⭐️ your differentiation (i.e. how you're better than the alternative) In stage 2, people are doing cold plunges... but they don't have great tools for it. In this stage, the ice bath company needs to position themselves as the best category of tool for cold plunges (the activity). They no longer need to convince the community that cold plunges are a great way to "enhance mental resilience" (the desired outcome) — they already know that. And since the market has moved into stage 2, your competitors aren't other activities anymore... they are categories of tools (cold showers, lakes) that can be used for the specific activity your product supports (cold plunges). The essential elements in stage 2 are: 🟫 the activity your audience is doing (or trying to do) 🟪 your category of tool that you think is best for the activity ⬛ the alternative categories you're trying to replace ⭐️ your differentiation (i.e. how you're better than the alternative) In stage 3, the market knows... → they want to increase mental resilience... → by doing daily cold plunges... → using an ice bath Now, your competitive alternatives are OTHER ICE BATH VENDORS. We're not in this stage, but a vast majority of people in the wellness community aren't considering buying ice baths as a way of doing cold plunges. But you can imagine in categories like CRM for a target audience of SaaS companies... the first question a new CRM needs to answer is "why are you better than Salesforce?" The essential elements in stage 3 are: 🟪 the category of tool your audience is shopping for ⬜ your product ⬛ alternative products ⭐️ your differentiation (i.e. how you're better than the alternative)

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🚀 Growth Hacking Strategies: Enhancing Your Product with the 2A-3R Strategy 🚀 In the ever-evolving world of product development, growth hacking has become a crucial strategy for rapid and sustainable growth. There are five key funnel steps to supercharge your product’s success- 1. Acquisition 2. Activation 3. Retention 4. Revenue 5. Refer I call them the 2A-3R strategy! At GoBlu, we leverage the following acquisition strategies to reach our niche customers effectively- 1. Google Ads: 🔍Keyword Planner: We identify trending keywords related to our venture. For example, “Taxi Melbourne” with 18k average monthly searches, and “Airport transfers” with 4k average monthly searches. 🔍Match-Type: Choose between an exact match or phrase match to narrow down customer targeting. 🔍Phrase Selection: Balance between “exploration and exploitation.” More keywords and diversity can lower conversion rates and increase spending. Finding the equilibrium is crucial. 🔍Campaign Choice: Test multiple campaign types to determine the best fit for your venture. For detailed insights, refer to our blog here. 2. Meta Ads: 📱Unlike Google Ads, Meta Ads (Facebook, Instagram) are push advertisements, creating brand impressions while users scroll. Though conversion rates might be lower, these ads are essential for brand visibility and awareness. 3. TikTok Promotions: 📹Leveraging TikTok’s vast social network and hook models can be an effective and cost-efficient way to advertise. Short, engaging videos can capture attention quickly. 4. Event Sponsorship: 🎟️Sponsoring local events helps in creating a strong community presence and direct engagement with potential customers. 5. Physical Marketing: 🚗Beyond conventional methods like hoardings and pamphlets, we use attractive car wraps on GoBlu vehicles, turning them into moving advertisements around the city. 6. SEM and SEO: 🌐Search Engine Marketing (SEM) and Search Engine Optimization (SEO) are crucial for enhancing online visibility and driving organic traffic to our platform. We recognize the importance of continually optimizing our acquisition channels to reach the right audience effectively. Tracking the performance of these channels using analytical tools like CleverTap and AppsFlyer is vital. These tools help us identify traffic sources and improve user engagement by customizing push advertisements on Facebook and Google. By focusing on these strategies, we ensure a robust acquisition process that feeds into the rest of our 2A-3R growth hacking strategy, leading to sustainable product success. What growth hacking strategies have you found most effective? Share your insights in the comments! 👇 #GrowthHacking #ProductDevelopment #MarketingStrategy #CustomerAcquisition #Retention #Revenue #Referral #StartupGrowth

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🚀 Finding Product-Market Fit: The 4 Essential Levels Every Founder Must Navigate As startups journey from idea to market leader, the path to achieving product-market fit is often misunderstood and underestimated. Yet, it's the most critical journey a founder will undertake. In a recent episode on Lenny's Podcast, Todd Jackson of First Round Capital breaks down a brilliant framework for helping founders understand where they are in the Product/Market Fit journey, and the different levers available to get unstuck and move to the next stage. Here's a breakdown of the four key levels you need to master, each building on the last Nascent Product/Market Fit: Likely a pre-seed or seed-stage company. The goal in this stage is to find three to five customers with a problem worth solving, engage with them, deliver a solution, and validate that solution. Focus on satisfying your first few customers deeply. Developing Product/Market Fit: Scale from a handful to dozens of customers by refining your product and solving pain points efficiently. The focus is on scaling demand and finding a repeatable channel. It’s a challenging stage where founders need to open the floodgates of demand and make the product do the heavy lifting. Moreover, founders should start paying attention to key metrics like sales conversion rates, retention rates, and efficiency metrics like the magic number (new ARR divided by CAC). Strong Product/Market Fit: The fish are jumping into the boat. The business is finally gaining momentum, with leads coming in more easily, possibly even from referrals and word of mouth. Founders should have a scalable demand channel, high ACV, and be thinking about efficiency metrics. Challenges may arise at this stage, such as encountering increased competition, facing saturation in existing channels, or struggling with the balance between growth and expenditure. Extreme Product/Market Fit: Metrics are robust and the company has achieved significant milestones. Your team is more than 100 people, and you’re likely series C, D, or beyond. A focus on expanding the total addressable market (TAM) by entering new markets or introducing new products becomes crucial for sustained growth. The majority of founders get stuck at Level 2, spending over 12 months struggling to generate new demand. Common signs that founders won’t make it to Level 3 include high churn, slow sales cycles, or lack of urgency from potential customers. The 'Four Ps'—Persona, Problem, Promise, and Product—are your tools for navigating these stages. 🔍 Your Experience? Which stage are you currently navigating? Any insights or unexpected challenges you've faced in finding your product-market fit? Share your stories in the comments below! Let's learn from each other and drive forward to success.

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