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How well does your product fit the market? January 16, 2012

Posted by Ian Cheng in Funding.
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Pooja

“Product/market fit means being in a good market with a product that can satisfy that market,” according to Marc Andreessen, to whom the term is often attributed.

Few indications that you have a product fit:

1. While you are demonstrating to the customer they indicate that this solves their pain point.

2. You get calls from folks, along the line..” I was referred to you by XYZ because your product does..”

3. Customer who have been beta testing your product wants to purchase licenses..

4. Customers are asking for features which are clearly bells-whistles (ie., your core product feature set is solid..)

There are some key metrics that you can measure to indicate how good your product/market fit is:

Usage: Larger amounts of data being created inside the product and longer times for users logged into the system

Return Visitors: Increased returning visitors to the site

Unique Sign-ups: Growing number of sign-ups/conversion

Increase sales activity (number of inbound calls, number of organic leads etc)

Lower Sales cycle (if the product fits the market, customers will buy relatively easily)

How well does your product fit the market?

創投最害怕的那些人 January 16, 2012

Posted by Ian Cheng in Funding.
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Yvette

最近在看案子時發現…創投業者致死最常見的原因有可能是吐血過多身亡 。(這東西保險好像沒有賠….Orz)

可能是我天性樂觀,從小對人類的想像太美好,進到真實人生之後才發現到處都在上演讓人噴血的劇情(默) 這陣子累積了一些案子,從我吐血案例的統計數字中我歸納出一些典型,在這裡跟大家分享。

所謂創投害怕遇到的人的典型病症(或者我們也可以專業地叫他一聲小白):

一:亂花錢的藝術家(尤其是那些還沒有找到PMF的人)
PMF:Product Market Fit 適合市場需求的產品。

好發族群:先找到一大筆錢+手上有一個(自己覺得)超酷idea的團隊。
併發症:覺得錢可以解決大部份的問題(但事實上不能)

大概是因為多數人覺得創業要先有雄厚的資本,就先風風火火的搞了一筆錢,然後才回過頭來想:’‘嘿!所以誰來告訴我我們公司到底要賣什麼?’‘

拿到錢卻還沒有產品的狀況下,就非常容易掉入為了花錢而花錢的陷阱,總覺得這樣才對股東有交待。事實上,股東更在意的其實是你未來可以幫他賺多少錢,在最初對產業外行的股東可能還會欣賞你砸錢買設備的魄力,但我相信等到錢快燒完產品卻連個影子都還沒有的時候,你親愛的股東就絕對笑不出來了。

就因為有了投資人的錢(心理上的認知相當於idea得到肯定),還沒有把產品/PMF做出來的團隊在這個時候會有無比的決心要把心目中最完美的那個idea搞得很漂亮,不管他們的路上有多少意外發生,有多少Pivot的可能性,他通通會視而不見,因為在他心中,終點永遠只有一個。

我在看了一堆傷身體的案子(並且克制自己不要拿煙灰缸打人)之後,非常切身的體會到Jamie在他文章中所講的一段話:

“「產品」根本不是你創業的目的,「市場」才是你創業的真正目的。做產品,只是為了找到市場。修改產品,只是為了配合市場。進行一個 Pivot,只是因為你發現市場不如預期。這一切一切努力,最終就是要找到所謂的「Product-Market Fit」(簡稱 PMF)。”

我實在是不能同意更多,我每次都很想問這些苦主,你們到底是想要成為孤芳自賞的梵谷,還是改變世界的賈伯斯?

創投想要找的結婚對象是好的商人,而不是死後才會紅的藝術家。

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