Struggling with your product-market fit?
Early-stage companies likely won’t have reached product-market fit, but the earlier you start thinking about how you plan to reach it, the more confidence investors will have that you’re the right founder to invest in.
This may feel naive, but grab a piece of paper, and write down the following questions and send this survey to your users & gauge their satisfaction with your services/ products.
How would you feel if you could no longer use the [product/ service]? The Options
What type of people would you think will most benefit from the [product/ service]?
What is the main benefit the user received from the [product/ service]?
How can we improve our [product/ service] for you?
Once you have collected enough data, here is the process that you may follow for optimizing the PMF.
Segmentation or personas. Research all the respondents. What're their levels in the professional world, are these paying customers OR actual users OR both, what are the common theme amongst all the respondents. For this step, focus on respondents that have selected option A and get as much information about these customers as possible. These are your ardent supporters & you have a huge opportunity to understand why they love your [product/ service],
Analyze. Focus on the respondents that have selected the option B for this. You will get an idea of what can you improve further in your [product/ service] to turn these users into Option A users. In my experience, this is where your ventures level up lies,
For these users that have selected option B, follow the 80:20 rule --> find low-cost and high-impact features that Option B users are asking for and do your best to converting these into option A. Before you implement these low-cost & high impact feature, prototype and survey your users again. Prototype until the Option B users' acceptance is high without impacting the Option A users.
Repeat 1 - 3. On a regular basis, send the survey and repeat the process so that you continue to deliver value to both Option A & Option B users.
Hope that this excerpt helps you to reach your PMF.