Product Strategy
Ingredient 2: The market is underserved
Existing solutions need to be doing a subpar job of solving the problem. The founder of CRED, Kunal Shah, has a great framework for evaluating potential new solutions, called Delta-4:
Your solution needs t... See more
Existing solutions need to be doing a subpar job of solving the problem. The founder of CRED, Kunal Shah, has a great framework for evaluating potential new solutions, called Delta-4:
- What would a customer rate the existing solution on a scale of 1 to 10?
- What would they rate your solution?
Your solution needs t... See more
Lenny Rachitsky • How the most successful B2B startups came up with their original idea
Sarah Wong added 1mo
2. How much pain are you solving?
On a scale of 1 to 10, how painful is the status quo? Is it a 9-10, or is it 4-5? It’ll be hard to get people to pay a lot of money, or to switch from a good-enough product, if there isn’t a lot of pain.
On a scale of 1 to 10, how painful is the status quo? Is it a 9-10, or is it 4-5? It’ll be hard to get people to pay a lot of money, or to switch from a good-enough product, if there isn’t a lot of pain.
Lenny Rachitsky • Your startup idea probably isn’t venture-scale
Sarah Wong added 1mo
Qualities of great strategy
- Problem-oriented : Clearly identifies the problem
- Insight-driven : Rooted in insights, both quantitative and qualitative
- Actionable : Outlines concrete actions/investments that will solve this problem
- Focused : Has a small number of high-leverage bets
- Cohesive : Create a clear path from the problem to the solution
Lenny Rachitsky • Getting better at product strategy
Sarah Wong added 6mo
Sarah Wong added 6mo
A wedge seems most essential when you’re going after a market that is (1) entrenched or (2) crowded. When it’s hard to break in head-on.
Sarah Wong added 6mo
In terms of feeling market-message fit, there’s a few ways you can test it. One, based on launch press coverage, e.g. who wants to talk about it. You send an email using cold outbound and look at response rates.
Lenny Rachitsky • A guide for finding product-market fit in B2B
Sarah Wong added 1mo
a talented leader identifies the one or two critical issues in the situation—the pivot points that can multiply the effectiveness of effort—and then focuses and concentrates action and resources on them.”
Lenny Rachitsky • Getting better at product strategy
Sarah Wong added 6mo
“The wedge metaphor to me is most useful in making sure you’re not a blunt instrument trying to chop into a market by being everything for everyone, but instead the sharp blade with extraordinary focus on a specific persona/use case to start.”
Lenny Rachitsky • Picking a Wedge - By Lenny Rachitsky - Lenny's Newsletter
Sarah Wong added 6mo
Start noticing a shift from push to pull, and organic growth
Lenny Rachitsky • A guide for finding product-market fit in B2B
Sarah Wong added 1mo
PMF
“A good strategy is, in the end, a hypothesis about what will work.”
— Michael Porter
Lenny Rachitsky • Getting better at product strategy
Sarah Wong added 6mo