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Atmrix

About

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

Level two is where you need to pivot from just grinding for customers to having them come to you.

Video

LP

A framework for finding product-market fit | Todd Jackson (First Round Capital)

@ Lenny's Podcast

A framework for finding product-market fit | Todd Jackson (First Round Capital)

04/11/24

Related Takeaways

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

At level three, you should have found a demand channel where customers are coming to you, often through referrals.

LP

Lenny's Podcast Cast

04/11/24

@ Lenny's Podcast

At level three of product-market fit, the focus shifts to repeatability and scaling, where the marginal customer becomes easier to acquire, and leads start coming in more organically.

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

The demand source at level one often comes from personal networks, and it may take many conversations to find the right customers.

LP

Lenny's Podcast Cast

04/11/24

@ Lenny's Podcast

Founders should be aware of the signs indicating they might be stuck at level two, such as slow sales cycles, high churn rates, and difficulty in generating demand.

PB

Paul Buchheit

10/25/18

@ Y Combinator

The tipping point for a market is when demand exceeds supply, and you realize this by engaging directly with customers rather than overthinking it.

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

If you have a handful of happy customers but struggle to find new ones, it may indicate you're stuck at level one of product-market fit.

GA

Gustaf Alströmer

12/30/22

@ Y Combinator

Your first customers should be the easiest to acquire. Focus on simplifying the sales process and prioritize leads that are most likely to close, rather than trying to chase every potential lead.

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

At level one product-market fit, your goal is to find three to five customers with a significant problem and deliver a satisfying solution, even if it means being inefficient initially.

DC

Dalton Caldwell

03/22/24

@ Y Combinator

Getting the first customer is one of the hardest challenges for founders, and it requires a different approach than what investors might suggest.