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Supabase now has more than 7 million developers building on it. It all started with a tagline change. Paul Copplestone - e/postgres changed Supabase's tagline to "Open-source Firebase alternative." Someone posted it to Hacker News the next day. It shot to the top. He hadn't shipped a single new... show more

Brett Berson

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Marc Andreessen on product-market fit. “You don’t have a business until you have a product that a lot of people want.” “You can tell because the market’s pulling the product.” “Until you have that, time spent building the business around the product is pointless.” “Best case it’s gonna be a zombie.” “When you have product-market fit, then you build a company around it.” Marc Andreessen 🇺🇸 with Business Insider in 2009:

Marc Andreessen on product-market fit. “You don’t have a business until you have a product that a lot of people want.” “You can tell because the market’s pulling the product.” “Until you have that, time spent building the business around the product is pointless.” “Best case it’s gonna be a zombie.” “When you have product-market fit, then you build a company around it.” Marc Andreessen 🇺🇸 with Business Insider in 2009:

a16z

178,104 görüntüleme • 7 ay önce

Many startups find early pull, but only a few break out. Why? They stop at product/market fit and never find business model fit. Business model fit isn’t just about how much you charge for your product, but HOW you charge for it, and how you align customer value with your pricing. There’s a lot of advice out there about seat-based vs. usage-based vs. outcome-based pricing, but all of that is just noise. The search for business model fit is as specific to your company as the search for product market fit. You need to align your acquisition strategy and monetization strategy with your customer and product. It’s all one interconnected system. Take Slack for example: many associate Slack’s early success with its fun, creative design and fresh approach to communication. That’s what drew people to the product. But a big part of what made Slack a breakout success was business model fit. Freemium wasn’t just an acquisition tactic, it was essential to driving the revenue flywheel, viral expansion, and adoption in the enterprise. Obvious in retrospect, but controversial and against the grain of what others were doing at the time. The best founders don’t just chase product/market fit, they design a business model to make their product unstoppable. If that’s you, we want to meet you a16z speedrun 🧊 - link in replies

Many startups find early pull, but only a few break out. Why? They stop at product/market fit and never find business model fit. Business model fit isn’t just about how much you charge for your product, but HOW you charge for it, and how you align customer value with your pricing. There’s a lot of advice out there about seat-based vs. usage-based vs. outcome-based pricing, but all of that is just noise. The search for business model fit is as specific to your company as the search for product market fit. You need to align your acquisition strategy and monetization strategy with your customer and product. It’s all one interconnected system. Take Slack for example: many associate Slack’s early success with its fun, creative design and fresh approach to communication. That’s what drew people to the product. But a big part of what made Slack a breakout success was business model fit. Freemium wasn’t just an acquisition tactic, it was essential to driving the revenue flywheel, viral expansion, and adoption in the enterprise. Obvious in retrospect, but controversial and against the grain of what others were doing at the time. The best founders don’t just chase product/market fit, they design a business model to make their product unstoppable. If that’s you, we want to meet you a16z speedrun 🧊 - link in replies

Fareed Mosavat

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"Incentives don't create product-market fit; they amplify it." Caught NK💿 's talk at the Optimism Scaling Summit in ETHDenver 🏔🦬🦄 . Here's the key takeaway: The real edge crypto has over Web2 is giving users a stake in the protocol. But the industry got too focused on tokenomics and forgot to build things people actually want. Startale is building the infrastructure and Soneium 💿 is finding the entertainment use cases with real product-market fit. 👇

"Incentives don't create product-market fit; they amplify it." Caught NK💿 's talk at the Optimism Scaling Summit in ETHDenver 🏔🦬🦄 . Here's the key takeaway: The real edge crypto has over Web2 is giving users a stake in the protocol. But the industry got too focused on tokenomics and forgot to build things people actually want. Startale is building the infrastructure and Soneium 💿 is finding the entertainment use cases with real product-market fit. 👇

Startale 💿

14,921 görüntüleme • 5 ay önce

Howie CEO austin petersmith told us building an AI secretary is harder than it looks. For a product like this, he said "you have to put a pretty bad product into market in order to get a good one." Last year, they worked with customers to understand the patterns and mapping out the mindset of an executive assistant. Now, that product is available to everyone.

Howie CEO austin petersmith told us building an AI secretary is harder than it looks. For a product like this, he said "you have to put a pretty bad product into market in order to get a good one." Last year, they worked with customers to understand the patterns and mapping out the mindset of an executive assistant. Now, that product is available to everyone.

TBPN

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Rahul Vohra on how to measure product/market fit Rahul Vohra is the founder and CEO of Superhuman. He was looking for a metric to measure product/market fit so that he and his team could optimize, and he came across the following methodology from Sean Ellis: Simply ask your users: “How would you feel if you could no longer use the product?” with three options: (1) not disappointed, (2) somewhat disappointed, or (3) very disappointed. It turns out that the benchmark for product/market fit across hundreds of venture-backed startups is 40% of respondents saying “very disappointed”. And as Rahul puts it: “If more than 40% of your users would be very disappointed without your product, then you should focus on growing your company. If less than 40% of your users would be very disappointed without your product, then you’ll probably struggle to grow.” 40% may not sound like a lot, but it’s an incredibly hard benchmark to beat. For example, Slack posed this to 731 customers early in the company’s history, and 51% said they would be very disappointed without Slack. One might expect a terrific product like Slack to have a score of 60-80%, but that wasn’t the case. Rahul’s explanation of why the response options are focused on disappointment rather than happiness is interesting too: “I think the reason behind that is that if you ask people how they feel about a product and you give them positive potential responses, I think it invites more bias. People are more likely to be polite. And it also doesn’t get to the heart of the matter which is: how necessary has your product become in people’s lives? If you’re trying to build a company that’s going to stand the test of time, you really do have to build a product that matters and that people ultimately come to depend on because it’s just so incredible at what it does. And that’s what this question gets to the heart of.”

Rahul Vohra on how to measure product/market fit Rahul Vohra is the founder and CEO of Superhuman. He was looking for a metric to measure product/market fit so that he and his team could optimize, and he came across the following methodology from Sean Ellis: Simply ask your users: “How would you feel if you could no longer use the product?” with three options: (1) not disappointed, (2) somewhat disappointed, or (3) very disappointed. It turns out that the benchmark for product/market fit across hundreds of venture-backed startups is 40% of respondents saying “very disappointed”. And as Rahul puts it: “If more than 40% of your users would be very disappointed without your product, then you should focus on growing your company. If less than 40% of your users would be very disappointed without your product, then you’ll probably struggle to grow.” 40% may not sound like a lot, but it’s an incredibly hard benchmark to beat. For example, Slack posed this to 731 customers early in the company’s history, and 51% said they would be very disappointed without Slack. One might expect a terrific product like Slack to have a score of 60-80%, but that wasn’t the case. Rahul’s explanation of why the response options are focused on disappointment rather than happiness is interesting too: “I think the reason behind that is that if you ask people how they feel about a product and you give them positive potential responses, I think it invites more bias. People are more likely to be polite. And it also doesn’t get to the heart of the matter which is: how necessary has your product become in people’s lives? If you’re trying to build a company that’s going to stand the test of time, you really do have to build a product that matters and that people ultimately come to depend on because it’s just so incredible at what it does. And that’s what this question gets to the heart of.”

Michael McGuiness

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"Every software product you build, fate has already decided the outcome. The market is either going latch onto your product and run with it, or it's not. Do not ship a product, find a lack of success, and then try to market your way through that. Because the binding receptors likely don't exist. Once you recognize that the market is immutable, that no amount of tweeting, LinkedIn posting, advertising is going change whether the market wants your product, then you take a different mindset." — Matt MacInnis, COO/CPO at Rippling

"Every software product you build, fate has already decided the outcome. The market is either going latch onto your product and run with it, or it's not. Do not ship a product, find a lack of success, and then try to market your way through that. Because the binding receptors likely don't exist. Once you recognize that the market is immutable, that no amount of tweeting, LinkedIn posting, advertising is going change whether the market wants your product, then you take a different mindset." — Matt MacInnis, COO/CPO at Rippling

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Founder and CEO of Stedi, Zack Kanter, says this is what product-market fit felt like: a snake swallowing a deer. Listen to the whole conversation on In Depth:

Founder and CEO of Stedi, Zack Kanter, says this is what product-market fit felt like: a snake swallowing a deer. Listen to the whole conversation on In Depth:

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$80M in annual sales. 4.5 years after launch. But there were 2 years before that. Just figuring out the product. Before product market fit, nothing pulls you forward. You have to create the momentum yourself. Weekly goals. Invented deadlines. An internal scorecard. Tara Viswanathan on what the early stage actually looks like.

$80M in annual sales. 4.5 years after launch. But there were 2 years before that. Just figuring out the product. Before product market fit, nothing pulls you forward. You have to create the momentum yourself. Weekly goals. Invented deadlines. An internal scorecard. Tara Viswanathan on what the early stage actually looks like.

Hustle Fund 🦛🌽💛

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2/ Go to ChatGPT Once you've selected your product, ask ChatGPT to provide you with positive and negative product reviews: ChatGPT will optimize your time by listing all the reviews it has found on your product, so you don't have to spend hours doing it yourself.

2/ Go to ChatGPT Once you've selected your product, ask ChatGPT to provide you with positive and negative product reviews: ChatGPT will optimize your time by listing all the reviews it has found on your product, so you don't have to spend hours doing it yourself.

Toha Khan

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Jeff Bezos: “word-of-mouth is more powerful than it has ever been before” In this 2012 interview, Bezos argues this development has dramatic implications for business strategy: “In the past, if you were making a product, the right business strategy was to put 70% of your attention, energy, and dollars into marketing the product and 30% into building a great product. So you could win with a mediocre product if you were a good enough marketer. And I think that is getting harder to do.” He continues: “The right way to respond to this if you’re a company is to say, I’m going to put the vast majority of my energy, attention, and dollars into building a great product or service. And put a smaller amount into shouting about it (marketing). Because I know if I build a great product or service, my customers will tell each other.”

Jeff Bezos: “word-of-mouth is more powerful than it has ever been before” In this 2012 interview, Bezos argues this development has dramatic implications for business strategy: “In the past, if you were making a product, the right business strategy was to put 70% of your attention, energy, and dollars into marketing the product and 30% into building a great product. So you could win with a mediocre product if you were a good enough marketer. And I think that is getting harder to do.” He continues: “The right way to respond to this if you’re a company is to say, I’m going to put the vast majority of my energy, attention, and dollars into building a great product or service. And put a smaller amount into shouting about it (marketing). Because I know if I build a great product or service, my customers will tell each other.”

Startup Archive

21,805 görüntüleme • 1 yıl önce

Q: Best advice for a pre-product/market fit startup? One of my favorite pieces of advice on this topic comes from Coinbase founder Brian Armstrong: “Action produces information. Just keep doing stuff.” He borrows this from Paul Graham who said: “Startups are like sharks. If they stop swimming they die.’” Even if you’re not sure what to do, just try something different. Don’t get stuck in endless debate or analysis paralysis. When you try a product or go-to-market experiment, it will produce information and help you come up with better ideas of what to try next. This is true even when you build the wrong thing because it will help you identify which hypotheses about your users, value proposition, go-to-market strategy, etc. are wrong. So if you’re pre-product/market fit, my best advice is to just keep moving and trying things. Follow Startup Archive for more tactical startup advice!

Q: Best advice for a pre-product/market fit startup? One of my favorite pieces of advice on this topic comes from Coinbase founder Brian Armstrong: “Action produces information. Just keep doing stuff.” He borrows this from Paul Graham who said: “Startups are like sharks. If they stop swimming they die.’” Even if you’re not sure what to do, just try something different. Don’t get stuck in endless debate or analysis paralysis. When you try a product or go-to-market experiment, it will produce information and help you come up with better ideas of what to try next. This is true even when you build the wrong thing because it will help you identify which hypotheses about your users, value proposition, go-to-market strategy, etc. are wrong. So if you’re pre-product/market fit, my best advice is to just keep moving and trying things. Follow Startup Archive for more tactical startup advice!

Startup Archive

597,764 görüntüleme • 2 yıl önce

Marc Andreessen on the 3 things he looks for when investing in a startup The first thing Marc Andreesen looks for is a big market: “Is there a big existing market that you think you can go after and displace incumbents? Or do you believe there will be a new market that will be big?” The second thing he looks for is a 10x better product: “Is there a fundamental technology or economic change that justifies a new company? And the way I always think about that is: Is there a 10x change happening in the technology landscape? Is something 10x faster, 10x cheaper, or 10x better? If it’s not 10x, we as both VCs and entrepreneurs have to ask ourselves if it’s really worth doing because it’s really hard to start new companies . . . Existing companies are usually pretty good at what they do. So for a new company to exist, it has to bring a product to market that’s so much better than what exists that it punches through the status quo.” The third is the team: “Is the team outstanding? . . . You want to have a founding team of complementary skillsets. You want to have at least one super strong technologist — quite possibly more than one. Some of the best startups are actually more than one founding technologist. And then it often helps to have someone who is a marketing or salesperson who has a really good understanding of business.” Marc believes that you need all three of these, but if you’re going to compromise on one of those as an investor, it should be the product: “A great market is a lot easier to make up for with iterative product execution. The problem with a poor or small market is that even if you do a good job on the product, there just aren’t that many customers so it’s hard to ever get big and people get demoralized . . . And then we evaluate the team of a startup by its ability to get into a big market with a good product.”

Marc Andreessen on the 3 things he looks for when investing in a startup The first thing Marc Andreesen looks for is a big market: “Is there a big existing market that you think you can go after and displace incumbents? Or do you believe there will be a new market that will be big?” The second thing he looks for is a 10x better product: “Is there a fundamental technology or economic change that justifies a new company? And the way I always think about that is: Is there a 10x change happening in the technology landscape? Is something 10x faster, 10x cheaper, or 10x better? If it’s not 10x, we as both VCs and entrepreneurs have to ask ourselves if it’s really worth doing because it’s really hard to start new companies . . . Existing companies are usually pretty good at what they do. So for a new company to exist, it has to bring a product to market that’s so much better than what exists that it punches through the status quo.” The third is the team: “Is the team outstanding? . . . You want to have a founding team of complementary skillsets. You want to have at least one super strong technologist — quite possibly more than one. Some of the best startups are actually more than one founding technologist. And then it often helps to have someone who is a marketing or salesperson who has a really good understanding of business.” Marc believes that you need all three of these, but if you’re going to compromise on one of those as an investor, it should be the product: “A great market is a lot easier to make up for with iterative product execution. The problem with a poor or small market is that even if you do a good job on the product, there just aren’t that many customers so it’s hard to ever get big and people get demoralized . . . And then we evaluate the team of a startup by its ability to get into a big market with a good product.”

Startup Archive

17,333 görüntüleme • 5 ay önce

Most consumer apps take years to find product market fit. Raj Singh, co-founder and CEO of Purpose, an AI-powered growth mentor built with bestselling author Mark Manson, explains how his team found it in six months. The playbook behind it, on the Subversive Podcast.

Most consumer apps take years to find product market fit. Raj Singh, co-founder and CEO of Purpose, an AI-powered growth mentor built with bestselling author Mark Manson, explains how his team found it in six months. The playbook behind it, on the Subversive Podcast.

Phil Carter

17,030 görüntüleme • 20 gün önce

Benchmark founder Andy Rachleff on what most founders get wrong about product/market fit “When you’re starting a company, you need to develop a value hypothesis and then a growth hypothesis. The value hypothesis consists of the what, the who, and the how. What are you going to build? For whom is it relevant? And what’s the business model? That’s the how.” Andy believes the core of product market fit is proving the value hypothesis. And the mistake most founders make is iterating on the “what” variable, which he defines as the inflection point in technology you’re building on: “Great technology companies are created by virtue of an entrepreneur recognizing an inflection point in technology that allows them to build a new product.” When Andy was building Wealthfront, this inflection point was brokerage APIs and ETFs. It’s only once you’ve identified an inflection point in technology (the “what”), Andy argues, that you should begin to focus on the “who” (e.g. what’s the market?) and the “how” (e.g. what’s the business model?). “You don’t start with a market and look for problems to which you can find a solution because that’s consensus, leads to mundane outcomes, and certainly doesn’t support venture capital. The great returns in venture capital have all come from people who have tried to do something non-consensus.” The other product/market fit mistake Andy often sees founders make is spending too much money on advertising: “The way that you really know you’ve found [product/market fit] is if you have exponential organic growth - if you have word of mouth. People only recommend things that they love… I’ve seen many entrepreneurs fall in love with the growth they’ve gotten from their advertising and not realized they’re not getting word of mouth.” Video source: Fintech Nexus (2018)

Benchmark founder Andy Rachleff on what most founders get wrong about product/market fit “When you’re starting a company, you need to develop a value hypothesis and then a growth hypothesis. The value hypothesis consists of the what, the who, and the how. What are you going to build? For whom is it relevant? And what’s the business model? That’s the how.” Andy believes the core of product market fit is proving the value hypothesis. And the mistake most founders make is iterating on the “what” variable, which he defines as the inflection point in technology you’re building on: “Great technology companies are created by virtue of an entrepreneur recognizing an inflection point in technology that allows them to build a new product.” When Andy was building Wealthfront, this inflection point was brokerage APIs and ETFs. It’s only once you’ve identified an inflection point in technology (the “what”), Andy argues, that you should begin to focus on the “who” (e.g. what’s the market?) and the “how” (e.g. what’s the business model?). “You don’t start with a market and look for problems to which you can find a solution because that’s consensus, leads to mundane outcomes, and certainly doesn’t support venture capital. The great returns in venture capital have all come from people who have tried to do something non-consensus.” The other product/market fit mistake Andy often sees founders make is spending too much money on advertising: “The way that you really know you’ve found [product/market fit] is if you have exponential organic growth - if you have word of mouth. People only recommend things that they love… I’ve seen many entrepreneurs fall in love with the growth they’ve gotten from their advertising and not realized they’re not getting word of mouth.” Video source: Fintech Nexus (2018)

Startup Archive

16,595 görüntüleme • 1 yıl önce

Doing this with my phone in one hand. Inviting tech product reviewers to compare this with anything in the market. If you have a decent, engaged following on YouTube or Instagram, we’ll send you the product for free. Others can get it at a solid discount.

Doing this with my phone in one hand. Inviting tech product reviewers to compare this with anything in the market. If you have a decent, engaged following on YouTube or Instagram, we’ll send you the product for free. Others can get it at a solid discount.

Ganesh Sonawane

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Q: How do you decide which customers to listen to? As Superhuman founder & CEO Rahul Vohra puts it: “In a world where you’re drowning in feedback—and most startups are drowning in feedback—you have to filter it down to only the stuff that’s going to increase the number of people who fall in love with your product.” Most startups will listen to all feedback from on-the-fence customers, but this isn’t targeted enough and will often lead to a muddled, incoherent product. As Rahul argues in the clip below, you need to identify the main benefit of your product—for Superhuman this was speed. And then focus on the feedback of on-the-fence users who also view this as the main benefit—there’s often something small holding them back. Users for whom your main benefit does not resonate (e.g. Superhuman users who value offline capabilities rather than speed), are unlikely to ever fall in love with your product. When Superhuman ran this analysis in 2015, they found that the main thing holding back users who viewed speed as the main benefit was their lack of a mobile app. Probing further, they found some less obvious and more interesting requests, such as integrations, attachment handling, calendering, unified inbox and read receipts. With a clear understanding of their main benefit and missing features, they were able to move this cohort of users from on-the-fence into the territory of enthusiastic advocates. As Rahul puts it in his Product Market Fit Engine article: “To increase your product/market fit score, spend half your time doubling down on what users already love and the other half on addressing what’s holding others back.” But make sure you’re focusing on users who love the main benefit of your product. Users who don’t are unlikely to ever fall in love with your product.

Q: How do you decide which customers to listen to? As Superhuman founder & CEO Rahul Vohra puts it: “In a world where you’re drowning in feedback—and most startups are drowning in feedback—you have to filter it down to only the stuff that’s going to increase the number of people who fall in love with your product.” Most startups will listen to all feedback from on-the-fence customers, but this isn’t targeted enough and will often lead to a muddled, incoherent product. As Rahul argues in the clip below, you need to identify the main benefit of your product—for Superhuman this was speed. And then focus on the feedback of on-the-fence users who also view this as the main benefit—there’s often something small holding them back. Users for whom your main benefit does not resonate (e.g. Superhuman users who value offline capabilities rather than speed), are unlikely to ever fall in love with your product. When Superhuman ran this analysis in 2015, they found that the main thing holding back users who viewed speed as the main benefit was their lack of a mobile app. Probing further, they found some less obvious and more interesting requests, such as integrations, attachment handling, calendering, unified inbox and read receipts. With a clear understanding of their main benefit and missing features, they were able to move this cohort of users from on-the-fence into the territory of enthusiastic advocates. As Rahul puts it in his Product Market Fit Engine article: “To increase your product/market fit score, spend half your time doubling down on what users already love and the other half on addressing what’s holding others back.” But make sure you’re focusing on users who love the main benefit of your product. Users who don’t are unlikely to ever fall in love with your product.

Michael McGuiness

89,872 görüntüleme • 2 yıl önce

Everyone wants bitcoin right now. Iran wants it as part of their toll to navigate the Strait of Hormuz. Morgan Stanley wants to package it up and sell to their clients. This is what true product-market fit looks like.

Everyone wants bitcoin right now. Iran wants it as part of their toll to navigate the Strait of Hormuz. Morgan Stanley wants to package it up and sell to their clients. This is what true product-market fit looks like.

Anthony Pompliano 🌪

1,543,225 görüntüleme • 3 ay önce

How Can Scientists Best Become Founders? david friedberg answers a fan question from James Sinka - Boston & SF: "I think the biggest challenge that scientists face when trying to build businesses is shifting from a research and discovery mindset to a product and customer mindset." this can be really hard for scientists, because absolute truth doesn't rule the day in startups like it does in science example: "You have to listen to customers who sometimes might not want the most rational or the most obvious thing." "Iterating your business to find product-market fit is the necessary role of a founder. But it's often different than the scientific process of discovering absolute truth." so, how can scientists overcome this hurdle to become great founders? change their framing, and use the scientific method as a strength: "One way scientists can be successful is to think about product-market fit as a discovery process, and using the iterative and scientific method to try and get to that." "I have seen scientists shift to (an) engineering mindset, using the scientific method to try and find product-market fit."

How Can Scientists Best Become Founders? david friedberg answers a fan question from James Sinka - Boston & SF: "I think the biggest challenge that scientists face when trying to build businesses is shifting from a research and discovery mindset to a product and customer mindset." this can be really hard for scientists, because absolute truth doesn't rule the day in startups like it does in science example: "You have to listen to customers who sometimes might not want the most rational or the most obvious thing." "Iterating your business to find product-market fit is the necessary role of a founder. But it's often different than the scientific process of discovering absolute truth." so, how can scientists overcome this hurdle to become great founders? change their framing, and use the scientific method as a strength: "One way scientists can be successful is to think about product-market fit as a discovery process, and using the iterative and scientific method to try and get to that." "I have seen scientists shift to (an) engineering mindset, using the scientific method to try and find product-market fit."

The All-In Podcast

65,259 görüntüleme • 2 yıl önce