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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.

Video

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

Todd Jackson

04/11/24

@ Lenny's Podcast

Signs of being stuck at level one include having customers who wouldn't be disappointed if your product disappeared or if the most important feature varies for each customer.

Y Combinator Cast

04/09/22

@ Y Combinator

Founders often assume their competitors are winning based on external signs like fundraising announcements, but they should focus on whether their customers are satisfied and engaged.

Lenny's Podcast Cast

04/11/24

@ Lenny's Podcast

Founders often get stuck at various levels of product-market fit, and it's essential to evaluate which of the four Ps—persona, problem, promise, or product—needs to change to move forward.

Todd Jackson

04/11/24

@ Lenny's Podcast

Most startups never get past level two of product-market fit, which is a common challenge for early-stage companies.

Y Combinator Cast

12/27/24

@ Y Combinator

Founders frequently struggle with whether to prioritize growth or retention, and they often feel overwhelmed by the need to balance product development and sales efforts.

Qasar Younis

05/15/25

@ Uncapped with Jack Altman

It's essential for founders to recognize when they might be pursuing the wrong path, similar to climbers on a mountain who need to be aware of their direction.

Todd Jackson

04/11/24

@ Lenny's Podcast

At level three, signs of struggle include a net revenue retention below 90% or regretted turns greater than 10%.

Todd Jackson

04/11/24

@ Lenny's Podcast

If growth slows down significantly after rapid growth, it may indicate challenges at level three.

Elad Gil

10/18/18

@ Y Combinator

Founders should avoid distractions and prioritize whether people are buying their product and at what scale.