How to measure product-market fit in a startup
The term “product-market fit” is for sure one of the most used in the startup world – and most likely one of the most misunderstood concepts. According to Wikipedia it is “the degree to which a product satisfies a strong market demand”, and it is a key metric in defining when your startup is ready to scale the business (including convincing investors to fund your company).
But ask 10 different founders and investors about it, and they will have many different viewpoints on how product-market fit should be measured and thereby also very different opinions if a given startup has achieved product-market fit or not.
We will therefore allocate the next Preseed Academy to how to measure product-market fit.
We will have input from two founders that will share their hands-on experience in measuring product-market fit and sharing the mistakes they made in their respective startups. Each speaker will focus on different elements of the product-market fit discussion:
– Hans Henrik Hoffmeyer from Coinfy will in his talk focus on the pivots and major changes in business strategy Coinfy did before reaching product-market fit.
– Claus Møldrup from Drugstars will focus on their metrics in the different stages Drugstars, for both parts of their business model (b2b vs b2c), and how these KPIs impacted their decisions regarding funding (bootstarpping vs. VC-funding etc.)
17.15-17.40: Nicolaj Højer Nielsen: Product-market fit and how to measure the progress in the different stages of a startup
17.40-18.20: Founder 1: How to measure product-market fit, and the mistakes we made
18.20-18.35: Break – snacks and drinks
18.35-19.15: Founder 2: Our search for product-market fit, and the KPIs we used
19.15-19.30: Q&A session
19.30-20.00: Stay for good talks and a last beer
The event is free to attend. Due to the limited number of seats we’re enforcing a no-show fee: If you have signed up but do not show up, we will invoice you 200 kr.
The startup school PreSeed Academy is pioneered by PreSeed Ventures in collaboration with Nicolaj Højer Nielsen and has developed from a strong desire to make early stage startups succeed. We have at least 10 startup events planned for you in 2019, an ambitious mix of talks, masterclasses and walk-in sessions, so make sure to stay tuned at Facebook, LinkedIn, or sign up for our newsletter at www.preseedacademy.dk
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