Product-Market Fit

The process helps you define your early adopter and get your first clients.

Sessions
4
Steps
9
Last edited
Feb 28, 2022
Created by
Nova

About this process

The Product-Market Fit workflow—is an iterative, easy-to-follow process. This process guides you sequentially through each step. The process helps you articulate, test, and revise your key hypotheses so you can improve your product-market fit and get your first few clients. Workflow: Define your potential customer. Early adopters. Assumptions & Goals. Define your strategy Create a list of 15 potential customers. Track their actions and their feedback.

Sessions at a glance
#SessionSteps
011. Define your customer5023.1. Finding people (Where and What?)2033.3. Sales tracking2043.4. Keep track of feedback0

The process in detail

4 sessions · 9 steps
01

1. Define your customer

5 steps

Your goal is to define your customer. Know who you are selling to, and what problems your product solves. You should be able to answer the following questions: Who will buy your product?** Why they will buy your product?** What problem are you solving?**

  1. 1

    3 Top markets.

  2. 2

    Early adopters/ Beachhead

  3. 3

    The anti-buyer.

  4. 4

    What characteristics make someone a buyer?

  5. 5

    What additional information do you need to discover about each segment?

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1. 3 Top markets.

Focusing on your top 3 or 4 markets (6 max), define their key characteristics. Geographic: Countries, nations, cities, etc. Demographic: Age, gender, sex, education, family, and income. Psychographic: Lifestyle, social class, and personality. Behavioral: User status, usage rate, benefits, occasions, and loyalty attitude.

Work on the whiteboardBusiness market segmentation
2. Early adopters/ Beachhead

Who would be the early adopter and why? Early adopter: An early adopter is an individual or business that will use a new product or solution. This user usually is excited about the product or solution and helps companies grow by providing feedback.

Write a note
3. The anti-buyer.

In this step, identify and define those people you don't want to target.

Write a note
4. What characteristics make someone a buyer?

Open the board and think about your buyer and your anti-buyer. What do they have in common? What do they do different? How do they think differently? How do they feel the pain? How would you use this information to better target your buyer? How would you use this infomation to find them? What channels will you use?

Work on the whiteboardBuyer & anti-buyer
5. What additional information do you need to discover about each segment?

What additional information do you need about each segment? What are you assuming, and what should be tested? Answer the following questions. Ask yourself how you know the answer, and estimate how accurate your answer actually is. How often do they suffer? How long, What amount of time/money is wasted by the problem? How do they talk about the problem (pain)? When? Why can't they solve it themselves? How have they tried to solve the problem and failed? What if they could solve it? What would life be like? Show them the possibilities of a life without suffering. Show them the reverse of all the things we identified above. What is your solution? What is the physical nature of it? What is included?

Write a note
Business market segmentation
  • SEGMENT
  • SEGMENT
  • SEGMENT
  • 01
  • 02
  • 03
  • SEGMENT NAME
  • SEGMENT NAME
  • SEGMENT NAME
  • Add a short description here.
  • Add a short description here.
  • Add a short description here.
  • DEMOGRAPHIC Gender, Status, Age, etc
  • GEOGRAPHIC Country/Countries
  • DEMOGRAPHIC Gender, Status, Age, etc
  • GEOGRAPHIC Country/Countries
  • DEMOGRAPHIC Gender, Status, Age, etc
  • GEOGRAPHIC Country/Countries
  • Education and income:
  • Cities
  • Education and income:
  • Cities
  • Education and income:
  • Cities
  • PSYCHOGRAPHIC Lifestyle & Social class
  • BEHAVIORAL Loyalty attitude
  • PSYCHOGRAPHIC Lifestyle & Social class
  • BEHAVIORAL Loyalty attitude
  • PSYCHOGRAPHIC Lifestyle & Social class
  • BEHAVIORAL Loyalty attitude
  • Personality:
  • Needs
  • Personality
  • Benefits:
  • Personality:
  • Needs
  • Personality
  • Benefits:
  • Personality:
  • Needs
  • Personality
  • Benefits:
Buyer & anti-buyer
  • BUYER
  • ANTI-BUYER
  • Differences
  • Differences
  • Example: Male
  • Example: Female
  • Similarities (common)
  • Similarities (common)
02

3.1. Finding people (Where and What?)

2 steps
  1. 1

    Where?

  2. 2

    Prepare your template.

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1. Where?

What channels are you using to reach your buyers or users? Linkedin: Inmail Forums: Reddit, Google, Quora or Twitter Competitors social media

Choose one or more
  • Email or phone call: Passionate people using your solution or people who sent a complain.
  • Email or phone call: Your power users (high engagement and frequent users)
  • Twitter: Who is using you hashtags? Who is sharing content related to your solution?
  • Live-chat: People that asked questions.
  • Social media: Follow your competitors and contact their clients/users.
  • Linkedin: In mail.
  • Other methods and channels.
2. Prepare your template.

Create one or two templates and test them out. Make sure you are adapting the message to each potential customer. Example: Hi Sam, I read your article on [X] - it was really inspiring! I am looking to [X] and you got me thinking about [X]. I have a software company trying to improve [ X(Example:Remote work)] I am not looking to sell anything, but since you have so much expertise with [X], I would love to get your advice on our product so we don't build the wrong thing. If you are available, I'd love to chat for 20 minutes - Mon or Tu morning? Thanks your any help! [NAME] Tips: BE SHORT (4 - 7 sentences) BE PERSONAL: Mention how you found them. For example: “I read your blog post on… it was great!” BE VALUABLE: Having a conversation with you should be valuable. For example: “ It will help our organization out” or “ We value your opinion and your expertise” or create an incentive ($$$)

Write a note
03

3.3. Sales tracking

2 steps
  1. 1

    Volume & status.

  2. 2

    Value and velocity.

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1. Volume & status.

Add all your sales leads here. Choose a sticky note color base on their status. Won**: Blue sticky note. Lost:** Grey Hot (Very interested):** Red sticky note Warm (Somehow interested):** Yellow sticky note Cold (No interested):** Light blue sticky note

2. Value and velocity.

Track your opportunities using the following metrics: Volume:** Number of opportunities Value:** How much value? Is this opportunity worth our time? Velocity:** How fast are you converting those deals? Use this matrix to evaluate your sales strategy visually. Are you spending too much time targeting the wrong potential user/customer? What's your avg value? What is your avg velocity?

Work on the whiteboard3V
3V
  • Value and Velocity
  • Volume & status
  • Add your sales leads here. One per sticky note.
  • Month/Sprint:
  • MM-YYYY to MM-YYYY
  • Client name
  • Client name
  • $3001 - 5000
  • $1001 - 3000
  • $500 - 1000
  • $251 - 500
  • VALUE
  • $41 - 250
  • $5/40
  • 1 WEEK
  • 2 - 4 WEEKS
  • 2 - 3 MONTHS
  • 4 - 6 MONTHS
  • 7 -11 MONTHS
  • +1 YEAR
  • 1 YEAR
  • VELOCITY
04

3.4. Keep track of feedback

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Board
  • FEEDBACK
  • NAME
  • NAME
  • NAME
  • About: Start typing here...
  • About: Start typing here...
  • About: Start typing here...
  • General feedback Start typing here...
  • General feedback Start typing here...
  • General feedback Start typing here...
  • Are they using or paying for the product? Yes. No.
  • Are they using or paying for the product? Yes. No.
  • Are they using or paying for the product? Yes. No.
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • What would you like to see us keep (and/or stop) doing? Start typing....
  • What would you like to see us keep (and/or stop) doing? Start typing....
  • What would you like to see us keep (and/or stop) doing? Start typing....
  • NAME
  • NAME
  • NAME
  • About: Start typing here...
  • About: Start typing here...
  • About: Start typing here...
  • General feedback Start typing here...
  • General feedback Start typing here...
  • General feedback Start typing here...
  • Are they using or paying for the product? Yes. No.
  • Are they using or paying for the product? Yes. No.
  • Are they using or paying for the product? Yes. No.
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • QUESTIONS What could we do to better serve your needs? Start typing here...
  • What would you like to see us keep (and/or stop) doing? Start typing....
  • What would you like to see us keep (and/or stop) doing? Start typing....
  • What would you like to see us keep (and/or stop) doing? Start typing....
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Created byNova·Official process
Last edited Feb 28, 2022·4 sessions · 9 steps