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About

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

You need to confirm customers' ability and willingness to pay for your solution.

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

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

If customers express a willingness to pay for your solution, consider asking them for a commitment, like writing a check in advance, to validate your idea.

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

When discussing a potential solution with customers, always ask them what specific problem you would be solving for them and what they would be willing to pay for it.

DR

David Rusenko

09/06/18

@ Y Combinator

Test your solution with target customers, being flexible about who those customers might be based on feedback.

TJ

Todd Jackson

04/11/24

@ Lenny's Podcast

Asking customers about their budget and what they currently pay for similar solutions helps gauge their willingness to pay.

MS

Michael Skok

04/01/23

@ Harvard Innovation Labs

To validate your product's value proposition, ask users how critical your solution is to their needs and what alternatives they would consider.

TP

Tom Preston-Werner

10/25/13

@ Y Combinator

If customers are asking to pay for your product before it's available, that's a strong sign of traction.

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

To validate your product, focus on gaining insights from potential customers about their pain points and the value your solution provides.

MS

Michael Skok

04/01/23

@ Harvard Innovation Labs

You need to ensure that your product has a pull from the user; if users aren't engaged, customers won't pay for it.

GA

Gustaf Alströmer

12/30/22

@ Y Combinator

Charging customers is essential for validating your product's value. Offering free trials can be tempting, but if customers aren't paying, they aren't truly customers. Resist the fear of rejection based on price.