Chapter Chapter 3 3 a marak maret. Inveket. sInvetors satorres awarea reaw thareat ththeseat these early earlycusto cusmertosm aerres testiare ntestig ng your yourprod uctpro danuctd th anadt nthoneat n ofone the of s ttheartu sptasrt proviups providing dproingduc prot ducare mat areki nmag king much monemuch money. y. A crowA crowded mdeadrk meta lerkadset le toads a rotou agh ro ruughle ofru leth ofumb th umbto apply to a pplywhe nw ihet n it comescomes to su tobs criptionsubscription price pris. Evecesn. tuEveallnytu, eanllterpriy, enterprises shoulses sdhoul be dp abyien pg aying at leastat leastsix fig sixure figs uanrensu anallyn uforally a forprod a ucprodt, wuchilet, w smahilell sma to mll etod imumed-siumized -sized businebusinesses shossesu shold bue pld bayie pnga ayitn legas att lefivase.t five. 5. V5. iralitVirality, or y, oWord of Mouthr Word of Mouth WordW oford mouth of mouth tells yotellus ho yowu hoyouwr yocompur canompy acanqyu acireqs unireews cusnewtomer customers. s. Ask yoAskur syoelfu:rself: • Does all of your prospect generation require outbound sales • Does all of your prospect generation require outbound sales and marketing efforts?and marketing efforts? • Is prospect generation created by a mix of outbound sales and • Is prospect generation created by a mix of outbound sales and marketing efforts, as well as customer referrals?marketing efforts, as well as customer referrals? • Are people starting to search for solutions in your market?• Are people starting to search for solutions in your market? OnceOnce a high a highperc entagepercentage of sa ofles saisle ges inser geatenerd afrotedm froeitherm either organ orgic anic inbouninbound leadd sle, acusdstomer, customer referr referrals, oral s,b othor ,b itoth’s ,a its’sig an syoigun mayouy mahavye have achievedachieved prod uproct/mduacrt/mketa fitrket. Bu fitt. But this oftethis nofte mena nms eyoanusr yocoumr pcoanmyp wanilyl will neednee to rampd to ramp up it sup go-to- its go-to-markmetar effortsket efforts to han todle han thedle vol theum vole.ume. IndustryIndu cloustry dclou solutiod solutions canns oftecan nofte genn ergeatener waorte dw-of-ormd-of-outhm oviralituth virality y quickquier cthakern thahorizon horizontal clontaudl clo solutioud solutions. Forns . insFortan inscet,an Veevce, aV eevSysate Smyss tems quicklyqui beccklya mebec aanme ind anu sindtry-ussttry-andastardn daCRMrd CforRM the for la therge lsatrge phastrm phacarmeutiacceal utical companiecompanies, sinces, si bunceyer bus inyer thats in sthatpac es pofteacen ofte comnp caorem pnoteare sn onote ssol onutio solnus tions to ustoe. Vuseeve. aV eevSysate Smysste’ promsdu’ proct duroactd maroapd mahasp bheeasn b greeena tlygre iantlyflu einncflued enced by otherby other prod uproctsd duecstsire dde sbirey thod byse i thonitialse in buitialyers bu ofyers their of CtheirRM C solRMutio solnsutio. ns. Putting ItPutting It All TAll ogetherTogether AfterA yofteru’ve yo wu’veork wedor throkedu throgh theugh five the poi fiven tpois ountlits noeudtli abneovd abe, itov’s eim, itpor’s imt por- t - ant toant identify to identify where where your yocoumr pcoanmyp santany dsst anond sthe on follothe wfolloingw proingduc prot duct continuucontinuum: m: 1. You’re at the product-testing stage and you’re still defining 1. You’re at the product-testing stage and you’re still defining your core business.your core business. 4444 4444
Measuring Product/Market Fit Page 6 Page 8