The most challenging aspect of launching a new product is finding the right product/market fit. Marc Andreessen explains this as “being in a good market with a product that can satisfy that market.” Over my career, I’ve embarked on this journey five times through three startups I co-founded and new products I developed at LinkedIn and Microsoft. It’s not as simple as it sounds; I’ve experienced both failures and successes in achieving product/market fit.
In 2007, I launched my first startup, Anywhere.FM, which was a web music player allowing users to upload and stream their music collections online. Being part of an early Y Combinator batch, we adopted the Lean Startup approach, which was a response to the failures of dot-com era startups. Instead of detailed business plans and prolonged development cycles, this approach emphasized quickly launching a minimum viable product (MVP) to get user feedback. We quickly brought an MVP to market, received great feedback and press, and grew to over 100,000 users. Despite this momentum, we failed to secure a viable business model, leading to our eventual acquisition by imeem for our technology.
While working on Anywhere.FM, we encountered another small music startup in Sweden called Spotify, founded by Daniel Ek. We didn’t pay much attention to them as they took two years just to build their product before launching. Contrary to Lean Startup principles we followed, their slow progression made us skeptical of their potential. However, Spotify eventually revolutionized the music industry, proving our assumptions wrong.
This experience made me deeply curious about why some find product/market fit and others don’t. I experimented with different techniques during my next venture, Connected, which LinkedIn later acquired. At LinkedIn, I developed LinkedIn Sales Navigator, a new premium subscription for sales professionals. Through this, I refined my approach to finding product/market fit, leading Sales Navigator to become a highly successful new product generating over $1 billion annually for LinkedIn. The process we used varied significantly from Lean.
In the new course, we introduce the Deliberate Startup methodology, addressing key challenges seen with Lean Startup. We focus on a thorough initial product strategy, documented in what we call a PMF narrative document. Instead of solely launching MVPs, we utilize varied validation techniques to reduce risks associated with your product assumptions. We provide clear, actionable metrics for measuring product/market fit and offer guidance on the next steps based on your progress. Additionally, we emphasize the importance of developing traction alongside product development, outlining strategies for early traction channels and establishing a growth loop for sustainable growth.
Many seasoned product builders have moved beyond the Lean Startup, but it remains popular among first-time entrepreneurs. This course aims to provide a practical alternative that increases the chances of finding product/market fit.
The program is a four-week, part-time, virtual course offered globally through Reforge. It’s designed for all product builders, including product managers, engineers, designers, and marketers. The content is equally applicable to early-stage startups and established companies looking to expand their product lines.
Join the next cohort starting the week of March 20. Apply to Reforge today to accelerate your product career and learn how to find product/market fit with the Deliberate Startup methodology.