Businesses that spin-off value, whether it is in the form of investment stages or revenue have the terrible task of budget prioritization. This is a very delicate stage. Allocating funds based on the wrong expectations can result in bad allocation likely to be focused on the wrong things. The wrong things, wrong time or whatever…
The theory of disruptive innovation tells us that most disruptive technologies (and organizations) appear in the marketplace as rather crummy products. They don’t arrive as a PlayStation. They arrived as a one transistor hearing aid or as this image represents, a 5 transistor AM radio. They market these products not to the upper end of…
A well-run balanced scorecard process enables product-market fit to thrive. How? From Harvard Business School: What you measure is what you get. Senior executives understand that their organization’s measurement system strongly affects the behavior of managers and employees. Executives also understand that traditional financial accounting measures like return-on-investment and earnings-per-share can give misleading signals for…
In reference to the above, when you’re going through this cycle the goal should be to learn more, have clear ideas that are based on quantifiable expectations of underserved needs. This allows you to build precisely. By doing these things ahead of time you will speed up the process. The code will go a lot…
The balanced scorecard (BSC) is a strategic planning and management system that organizations use to: Communicate what they are trying to accomplish. Align the day-to-day work that everyone is doing with strategy. Prioritize projects, products, and services. I thought about the BSC and how it could be used with Product-Market Fit work. Both methods can…
Some questions and thoughts you should consider. Product-market fit is also about the willingness to fail but I think it’s about having the protection of some guiding set of properties about the underserved needs of customers. Creativity requires curiosity. Q: Are your teams and organization curious not only about the product but about the customer?…
Thanks to Simon Sinek and his three circles. Why: Build healthy organizations that are viable to customers and employees alike. Technically, we help balance customer equality with customer delight. We have all seen businesses that make money but offer a crummy service. Utilities of all sorts fall into this bucket often. The product is so-so…
If you’ve ever read the book 7 Habits of Highly Effective People, you might have found the section on urgent and important tasks to be helpful. The book is great because it helps you eliminate Quadrant 4 – the time waster quadrant. These are things that you should just eliminate from your life – sometimes…
“the marketplace comes first because you can’t change that….” Don Valentine is right, if you have a good market, a lot of other things just roll downhill. That is the one major point about Product-Market fit that matters most. The market must be a good one. Since his comments, what has changed for the better?…
Why was it like this? In 2015 and when Dan Olson created the Product-Market Fit pyramid. Prior to this work, most people in the startup business, especially marketers defined market efforts by first defining the target customer. This is exactly how it was done before. Not to repeat all the history, but you could go…