Handling Negative Customer Feedback (Greg)

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  * 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)

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  * 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)

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  * "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)

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  * 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)

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  * 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.)