Achieving Product Market Fit [with PMF Score]
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- čas přidán 20. 03. 2023
- In this video, we look at the best framework to find product market fit: the Product Market Fit Score. This framework puts a number on your progress and tells you what you should be working on next, making it incredibly useful. We show you exactly how to implement and use it, and also share some proof of our guest's successful use of the framework.
The core of the framework is a simple question: "How would you feel if you could no longer use the product?" The Product Market Fit Score is the number of people that answer "very disappointed."
Overall, the Product Market Fit Score is an incredibly useful tool for finding your product market fit, identifying your target persona, and determining what to build next. Check out the video for more details!
The Product Market Fit Score was invented by Sean Ellis in his book Growth Hacking in 2017, and later, Rahul Vohra, founder of the email client Superhuman, wrote a fantastic blog post on it. We provide links to both in below.
Guest Herbert Bay:
/ herbertbay
Earkick:
earkick.com/
Sean Ellis and Growth Hacking:
www.seanellis.me/
Rahul Vohra Blog Post:
review.firstround.com/how-sup...
Product Market Fit Video:
• Find Product Market Fi...
Raw Startup Free Newsletter:
www.rawstartup.co/#/portal/
Raw Startup Blog:
rawstartup.co/
Raw Startup T-shirt:
rawstartup.threadless.com/des...
#ProductMarketFit #PMF #ProductMarketFitScore
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In the last year and a half I worked on a side project in my leisure time. After watching your videos I decided to take a sabbatical for a year in my primary job. I need it to fully switch gears to the product. Because "it's time to stop watching and go build something". Sabbatical starts May 1st. Super scary as I used to have stable work for the last decade. Wish me the best 🙂
Wow that is incredible, I have faith in you and wish you the best of luck ❤️
Heini I’ve now been slurping up all your videos - I have to say… of ALL the amazing channels around these critical startup/product/dev themes. Your content is the most clear and concise. My new go to SME. This channel should have 100x the viewership 🙏🏽
Thank you very much, this is very much appreciated
I loved this video! Although I'm not a big fan of surveys because, in my experience, the results never really capture the true feedback of the user, this approach is simple and effective. It's a great way to segment users and improve product-market fit. Thanks again, Heini!
Thanks, I normally feel the same, but the simplicity of this framework really makes it different.
Thanks Jerome, agree, I don't like surveys either, but this one is the only one we use and it proved to be very effective. Would love to do this without survey. Let me know if you have ideas.
Heini it just keeps on getting better and better. So useful! Thx. Gil
Thank you, very pleased to hear that!
Hi - I love the content of your channel and the style of presentation. I have learned in the last two weeks so much from your videos how to think about my Start up, how to grow and what important steps are. Thank you a lot.
Very impressed with these videos, much appreciated
Loved it!!! Thanks for sharing!! 🙌🙌🙌
Thank you, I really like this system.
Interesting 💯💯💯. Always learning something new at Raw Startup. This class has come at the right time when we are starting to do a product market fit. All the way from Kenya🙏🏿.
Great, glad to be of help!
Great you liked it. Wishing you all the best.
Thank you for the amazing eye opening video! I love the Fit Score and I am surprised that we ignore users who are not dissapointed of not using the product - but it makes sense totally.
Thanks, yes it did surprise me too, but indeed it does make sense!
Yes, still, we do take random users' feedback into consideration, but only for UX/UI purposes, but even then it's better to check with 'very disappointed' ones.
Thank you, Heini!
Very welcome 😎
Great video!
Thank you sir for this eye opening topic. God bless you
Thanks, very pleased it was helpful!
fantastis as always. thanks
Thanks!
Excellent advice and very clearly delivered! I've been doing this with my users and I'm at 52% very disappointed. It's still in alpha I'm sure I can get it to more than 60% 😀. By the way, I saw Vivino is being developed by Symphony, and I work with some of their developers.
Thanks, you will get there, just gotta keep pushing, I really like the PMF Score system
Incredible info. Can this be applied even earlier on, when one is at the MVP building stage?
Yes for sure as soon as you can get feedback from users.
Definitely, we started from day 1. We still call Earkick an MVP. Don't know when this is going to change
👏
🙏
Hey, Heini. Great video as always. I was just wondering, is it possible to find product market fit in another way, before you have finished developing the app, as this will cut down a lot of time and work?
Thanks, probably not, we just don't know till the users tell us. There is no model that can predict what the users want, we have to test and keep testing!
Again a great video. Thank you for your efforts. Did they ask you this directly in the mvp or at a later stage? Because such a question from the first product may be too early. At which stage of the product version do they ask such questions that measure activity rather than when do they ask customers? MVP or version 1 2 3? I hope I made my question clear.😇
I heard something like this from a vc. He said that close the shop for a day. If your users knock on your door for you to open the shop, then you will find market fit.
I also think product market fit is just one of the fits. The Revenue model fit is also very critical. I think this is the stage that comes after product market fit. What do youu think about that Heini?
Of you're really doing and MVP wirh very gee users it may not make sense as you have too few users. As soon as you have enough users start using this.
On revenue yes it comes later.
Do you send out this survey to the same people? And how often do you ask them?
From what I've been told only once! I think some people might disagree, but that is what I hear now.
@@RawStartup Interesting. How accurate is his graph with the trend then?
Thanks Max, we do that only once. I haven't heard of an approach that does this multiple times. Also, user might not like being asked multiple times, but happy to learn.
@@maxsuttorp Good question. I don't know about the accuracy. In oder to get the accuracy, we would need ground truth data and I have no idea how to get it. For us at Earkick, this is definitely better than no data at all as with my previous startup companies.
@@herbertbay Thanks for the reply! Just trying to learn :). If you let the same people fill it in more than once, they might be biased. However, if you see a higher percentage of people saying they can not live without the product, you can assume your product is improving.
Ps. Really like your concept, nice work.
But is it really a true barometer of PMF to ask the user how they feel about your product after only 2 visits ?
This is not just 2 visits, but twice experiencing the core feature whatever that might be. Within 2 weeks.
It's a good question. In addition to Heini's reply, I would add that we tried different approaches too (shorter/longer interval, more/less than 2 times core value), but it was not leading anywhere.
Thanks a lot for your wonderful lessons but l dont have any idea about real time for asking feedback from end user would you pls guid me ,l m a big fan of your video from Iran thanks again
Thanks appreciate it, but I don't understand the question
@@RawStartup sorry , l m a new learner and at the early stage of lunching new start up to offer a kind of product lm not that much experieced in sales,l wanna know after sending or saleing my product how much time l should wait to ask about client s opinions through questionner, survey or anywayelse ,one week, one month,.. or ?
That s sweet of you to answer me with patience🙏