This year TechCrunch Disrupt has brought together an all-star panel of venture capitalists working across the growth of startups to gain insights into assessing product and market suitability. This is a permanent and evergreen challenge for entrepreneurs of all levels of experience.
Human Ventures’ Heather Hartnett, Graylock’s David Thacker, and Felicis’ Victoria Treyger are all about product and market fit, how to find them, business growth and funding.
What to look for before the metric exists
Product and market suitability will be easier to further assess along the development process of the company you are in. With users in action, it’s much easier to determine if what you’re offering is what you want. But what about before that?
Assessing product market suitability at a stage where it is almost expected, especially for first-time founders, can be as artistic as science, but our panelists themselves for success. Provided some advice on how to set up.
Our view of product and market suitability is at the earliest stage. In fact, at that point, you’re looking for an indicator that isn’t there yet, right? You are looking for the earliest indicators that your customers even want what your messaging and value props are, and you have a strong hypothesis about what their value is, and you are Has a strong hypothesis about how it can grow its value over time. And it is a lot of experimentation to understand if we can see some of those early indicators. My dad said, “You don’t have to say that a thirsty man needs water.” So we are always thinking, “What are you not trying to double sell?” But what people really want is a single sale.
Thacker may seem counter-intuitive, but in reality, entrepreneurs are about the concept to ensure the right resources to find and maximize product and market fit. You need to raise as much money as you can.
Finding product-market fit, from the earliest stages through growth – TechCrunch Source link Finding product-market fit, from the earliest stages through growth – TechCrunch
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