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FAQ

Page history last edited by Sean Murphy 10 years, 5 months ago

Q: How To Get Prospects To Look At Your MVP?

What advice would you give to someone looking to take their MVP to the next level with no budget?  Where are the best places to start to attract feedback, media and some initial post-sweat capital?  Is there a definitive website where spare-bedroom technical founders go when they are ready to show the world what they've built?

A: (from Cooper Marcus) Excellent list here http://www.gettingmoreawesome.com/2009/08/25/get-your-first-beta-users-the-best-web-app-directories-to-submit-to/  Rishi (post author) says it'll take 6-8 hours to submit to all, but a commenter said it took 2 hours.

 

Handling Negative Customer Feedback (Greg)

 

  • QBIn - Great site for getting feedback (Maurice)
  • No company has ever been destroyed by one furious customer (Cindy A)
  • You may only have 1000 customers at some time and that may be sub-optimal.  You may consider even pivoting to get to 100k customers

 

When is it a pivot vs. a new product? (Maurice)

 

  • Changing product you're likely changing to find an opportunity (Hiten S.)
  • Fundamentally changes your business model and not your product
  • Kissmetrics has had 2 pivots - changed to target different customer types (Hiten S.)
  • "Note to all, never target everyone" Cindy A.
  • There are a number of different kinds of pivots... you're grounded in what you did
  • "Pivot is the adjustments you make along the way to find the optimal solution" (Lydia S.)

 

How do you decide when to pivot? (BJ)

 

  • "I don't think there's a specific formula" (Hiten S.)
  • Kissmetrics did not want to build a sales force or give their product away and that served as their key guidance as they moved forward
  • "If working harder isn't going to get you there, you may need to pivot" (Cindy A.)
  • "Scalability and ability to charge otherwise you find yourself in a .org kind of situation" (Tommy P.)
  • "Pivoting without customer feedback is flip-flopping" (Tommy P.)
  • "If you have your metrics and can't get to at least 40% satisfaction, you may need to pivot" (Hiten S.)
  • "It almost doesn't matter what you do, if you can achieve that PMF and scale it, you likely have a business" (Ranvir S.)
  • "Having revenue on the table early seems to make it easier to measure your progress and traction" (Ranvir S.)
  • "Whether you charge or not may have little to do with PMF, if you are getting indicators that people are willing to pay" (Hiten S.)
  • "Value of not charging is you get more feedback and can learn more about these customers" (Hiten S.)
  • "There are lots of ways to make cost of acquiring go down and revenue go up - those are levers, however, PMF is a much harder challenge" (Hiten S.)

 

How do you know your customer acquisition cost? (Tommy P)

 

  • Can test by changing pricing dynamically
  • Or take a credit card and not charge it
  • Show different price points but charge the lowest price point

 

How do you figure out what feedback to pay attention to? (Tommy P)

 

  • Free users aren't always the best ones to listen to (Tommy P.)
  • "Free is a path to pay" - (Hiten S.)
  • Figuring out what should be free is really hard
  • "If you can get your free user's costs down to pennies, that's a great place to be" (Hiten S.)
  • "Only your early people would have faith to pay for an early product" (Cindy A.)
  • "Some early majority will need free to get in the door" (Cindy A.)

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