the experimenter's toolkit: finding product-market fit
TRANSCRIPT
The Experimenter’s Tool Kit: Finding Product/Market Fit
FB: /productschool | Twi;er: @productschool | Meetup: /ProductmanagementNY
A li4le about me
-‐ Founding CMO, Tala -‐ Director of Product, Grovo -‐ Mentor, Techstars & UN Accelerator -‐ VC investor, Inevitable Collec8ve -‐ Founder/CEO, Nex:
Ajay Rajani, Experiment Addict
What is an experiment?
Subject to constraints
Answers quesCon(s) with data
Method creates trust
Why are experiments valuable?
To recap:
CompeCCve Advantage(You vs. Them)
ComparaCve Advantage(You vs. You)
Increasingly valuable(internet = permissionless)
Innova&on is more accessible than ever
Average cost to start up
2000 2005 2009 2011
$5,000$50,000$500,000
$5,000,000
Open source & horizontal scaling Cloud & AWS
Growth aOer launch (MAU in millions)
0
125
250
375
500
Year 0 Year 1 Year 2 Year 3 Year 4
WhatsAppFacebookSkype (2003)
See e.g. decreasing costs of produc>on/distribu>on and increasing speed of adop>on
WTF does this have to do with product-‐market fit?
What is p/m fit Process vs. Outcome Examples
How do you get to it?
Light-‐weight tests (messaging!)
“Listen” to users & study data (cohort analysis)
Escalate over Cme(establish causaCon; then opCmize)
Depends on where you start
(earlier = be4er)
How do you stay sane in the process?
(important!)
