I have been a teacher for seven years. I worked for the federal government of my country as a teacher and I, now, often teach the english language to kids and teenagers and adults here in Russia. But, I must say, you are a very great educator! The way you perfectly fit the 'pizza story' into the whole market fit narrative is overwhelmingly wholesome!!. You are exactly the right kind of guy to make a platform like stan. TBH I am learning a lot from you.
Thanks for another great video. Can you say how often did you iterated? It seems like keep reaching out to your users might irritate some. Also, how early have you started doing this?
What an amazing skill you have. Not only can you make a perfect video describing exactly what I was looking for but you're making a pizza while doing it. When you IPO i'll invest.
Great video! The best analogy I’ve heard is imagine you’re playing darts and bullseye is PMF. You have 18 months to hit bullseye. The best startups configure themselves to throw as many darts as possible, each one getting closer than the last. The worst startups spend too long trying to create the perfect dart and only throw a few before they die. Speed to iteration is the number 1 thing you should optimise for pre PMF. From a product perspective try to focus on two metrics: Activation & Retention. A lot of start-ups skip the former but it’s arguably the most important of the two initially… there is no party if people leave after 5mins. So get obsessive about learning what your Activation metric is and when you crack it configure the whole on-boarding experience toward it. I’m yolo moving from London to the US (state TBD) and looking for my next Chief of Staff / Strategy / Product role at an early stage startup I believe in. HMU in the comments if you know of any opportunities. LinkedIn sucks. 🙏🏽
@@nonefvnfvnjnjnjevjenjvonej3384 when your user gets or builds their first meaningful bit of value from your product. E.g. for RUclips when you watched your first interesting video… it made you come back for more.
I thought the whole pizza thing is gonna be a gimick but omg I couldn't be any more wrong! This was a fantastic video that actually demonstrates Product-market -Fit!
Idk how I found your channel but I’m really glad I did! I’m in the early stages of forming a startup and was thinking about documenting the journey as well. Btw, curious to know how you built the MVP version of the product without a technical cofounder and which features were part of it?
Im curious how long does each test last? Do you ask all your users every week by sending them an email to the form? How long does it take to address their concerns?
what do you do when literally no one from your first 100 users even replies or engages back with you to provide feedback ? we have 100% users who dont care ahah - funny but damn dont know
Hey Jay, content is amazing as always. I’ve got a question, could you make a video on how you got your business up and running. Especially from the start of your idea to then hiring people as you go. Cause I have the problem where I feel like I need to know everything but end up not sticking with learning one thing extremely well.
Ahhh - so like a "Everything You Need to Know to Start Your Own Business" kind of video? Or let me know what exactly you mean and I'll make it! Also - thanks for the kind words Akira!
@@jayhoovy Yeah for sure! Anyways pretty much me and probably other aspring entrepreneurs have an idea but don't know what steps to take to really get the ball moving. How do we hire quality talent, develop a MVP, find co-founders that we can bond with, etc. Any experiences you had when you had when Stan was a business idea and how it grew would be hugely beneficial to people like me who don't know how to get the business "snowball" to move. Thanks!!
You definitely needed to roll out that dough thinner. Also, appreciate the breakdown, Rahul's presentation is great, and he builds on the work of Sean Ellis, if you want to get more advanced it's great to be able to layer in user behaviour where you see the retention curve and customer value. It's worth adding that hard data to the survey results so you can validate the survey results with their actions.
Definitely tough if you’re early and don’t have much customer traction - you can incentivize in that case with a gift card / some other sort of more personalized value!
Love the video! May I understand how often we should conduct these surveys too? Especially when it's sent back to the ones who have filled it up before. Thank you!
Y combinator defines it fairly well (in the context of a startup) as achieving a virality coefficient of 1.1, meaning on average for each user you get they will tell 1.1 other people who will actually use it. Obviously, the numbers don't make much sense if not thought about in averages. If your able to achieve this, then your users will grow exponentially over time. Y combinator has videos on the relevant KPI's (key performance metrics) to keep track of in order to know if you have hit product market fit.
Hey Jay, great video explanation of how to iterate on customer feedback to get closer to PMF. What tools do you use to run this survey among your users? Did you incentivize your users to complete this survey? If yes, how?
don't need anything more than a typeform/google forms! and ideally you should have strong enough customer connection that they'll willingly fill out - but yes, can always incentivize
How did you get the demographics of the customers? Were your customers selected ( people you knew ) or random? Because I don't see how you can get information about their demographics unless you make them fill out another survey or put personal information into your app.
D'aww - thank you so much for the kind words Marie! The hope is that you take all of my learnings from my journey, and they make you even more successful in yours!
Great Video! I’m curious if you’d be open to talking about how you get paid as a founder before hitting profitability? It’d be interesting to hear the dynamics of how you determine a salary while balancing other aspects of the businesses needs.
I just paid myself a living wage of $70k! But as the company gets more successful I plan to pay myself a bit more - I personally am super happy living with pretty little - I'm lucky to have a roof to sleep under + food on the table - and other than that + loved ones, I'm content. :) I'd say general rule - pay yourself at minimum enough to not have stress deteriorate your actual ability to work on the startup! From there, kind of up to you!
Hi Jay, I have one question w.r.t. asking users of how do they feel if they stop using our product. Can we ask this question (i.e. would the answers would be valid) to clients to whom we recently pitched our product to?
@@jayhoovy after pitching the product people praise it a lot but are not forward to using it, then in this case the existing users are low too then how to check for PMF
This was great! I've been using the Superhuman Engine for PMF too, pretty powerful framework. Dude your channel is great, I've really been enjoying hearing your challenges and learnings.
@@jayhoovy My friend, more of a meta-challenge/learning: how do you navigate stress and burnout as a founder? I recall in your board meeting with Forerunner in one of your recent vlogs that you mentioned you were feeling burnt out. Wondering if you have any tips/tricks/frameworks to ease burnout while on this crazy journey.
@@jayhoovy for sure! you made it really easy to digest by quantifying it. Although one needs to be really careful about these results… if you send this survey to the wrong user segment you are f* Quick question… why was your first reaction to the results to double down on the features wanted by the 10%? After seeing the results my brain 🧠 immediately asked how can I make the 40% move to those 10%. Just wondering about the thought process 💭
I have been a teacher for seven years. I worked for the federal government of my country as a teacher and I, now, often teach the english language to kids and teenagers and adults here in Russia. But, I must say, you are a very great educator! The way you perfectly fit the 'pizza story' into the whole market fit narrative is overwhelmingly wholesome!!. You are exactly the right kind of guy to make a platform like stan. TBH I am learning a lot from you.
Ok calm down, Stan. Keep your pants on.
Loved being taught something while watching a pizza being made!
Thanks for another great video. Can you say how often did you iterated? It seems like keep reaching out to your users might irritate some.
Also, how early have you started doing this?
That has to be the worst pizza I have ever seen 😂
can confirm the pizza was scrubby (but tasted solid!) haha!
These videos keep on getting more and more creative
here to entertain sir - hope you enjoyed!
What an amazing skill you have. Not only can you make a perfect video describing exactly what I was looking for but you're making a pizza while doing it. When you IPO i'll invest.
HA - my pizzamaking skills are still very subpar, but I appreciate your support Walker!
@@jayhoovyI was thinking something like that... Good idea for content
this was blissful. This is the content that makes me watch youtube.
Awww thank you so much Tenzin ❤️ What a sweet comment - I really appreciate it!
Great video!
The best analogy I’ve heard is imagine you’re playing darts and bullseye is PMF. You have 18 months to hit bullseye. The best startups configure themselves to throw as many darts as possible, each one getting closer than the last. The worst startups spend too long trying to create the perfect dart and only throw a few before they die.
Speed to iteration is the number 1 thing you should optimise for pre PMF. From a product perspective try to focus on two metrics: Activation & Retention. A lot of start-ups skip the former but it’s arguably the most important of the two initially… there is no party if people leave after 5mins. So get obsessive about learning what your Activation metric is and when you crack it configure the whole on-boarding experience toward it.
I’m yolo moving from London to the US (state TBD) and looking for my next Chief of Staff / Strategy / Product role at an early stage startup I believe in. HMU in the comments if you know of any opportunities. LinkedIn sucks. 🙏🏽
@@nonefvnfvnjnjnjevjenjvonej3384 when your user gets or builds their first meaningful bit of value from your product. E.g. for RUclips when you watched your first interesting video… it made you come back for more.
can you drop your social handle?
I thought the whole pizza thing is gonna be a gimick but omg I couldn't be any more wrong! This was a fantastic video that actually demonstrates Product-market -Fit!
Hahahah it was me desperately trying to make a nerdy biz topic more fun
This has been the best explanation I have seen without getting too technical
Idk how I found your channel but I’m really glad I did! I’m in the early stages of forming a startup and was thinking about documenting the journey as well.
Btw, curious to know how you built the MVP version of the product without a technical cofounder and which features were part of it?
I was a CS undegrad so I have very mediocre coding skills - but you can easily find a cheaper agency on a site like Upwork to build an MVP for ya!
It is reaaally good video
I am also building a startup and I think we should document the process as well.
@@jayhoovyyou recommend an agency over a freelancer? Why
Im curious how long does each test last? Do you ask all your users every week by sending them an email to the form? How long does it take to address their concerns?
Can you make a video on how to pitch to investors
Yes! Have one of these planned :) make sure to subscribe so you don’t miss out!!
Right
This video is so fun! Best PMF tutorial online that also teaches us how to make pizza. Will Stan branch out into the pizza business next?
what do you do when literally no one from your first 100 users even replies or engages back with you to provide feedback ? we have 100% users who dont care ahah - funny but damn dont know
How many people is ideal per survey? How many businesses if B2B? Anyone, thanks.
Awesome video, thank you! How many users did you interview and what percentage answered?
1:07 target market, my product/
2:59 how to find a product market fit, once you have a target market, and product
... the moral of the story: making ton of pizzas! 🍕 Dope ending))
Hey Jay, content is amazing as always. I’ve got a question, could you make a video on how you got your business up and running. Especially from the start of your idea to then hiring people as you go. Cause I have the problem where I feel like I need to know everything but end up not sticking with learning one thing extremely well.
Ahhh - so like a "Everything You Need to Know to Start Your Own Business" kind of video? Or let me know what exactly you mean and I'll make it!
Also - thanks for the kind words Akira!
@@jayhoovy Yeah for sure! Anyways pretty much me and probably other aspring entrepreneurs have an idea but don't know what steps to take to really get the ball moving. How do we hire quality talent, develop a MVP, find co-founders that we can bond with, etc. Any experiences you had when you had when Stan was a business idea and how it grew would be hugely beneficial to people like me who don't know how to get the business "snowball" to move. Thanks!!
You definitely needed to roll out that dough thinner. Also, appreciate the breakdown, Rahul's presentation is great, and he builds on the work of Sean Ellis, if you want to get more advanced it's great to be able to layer in user behaviour where you see the retention curve and customer value. It's worth adding that hard data to the survey results so you can validate the survey results with their actions.
Hahahaha next pizza video will be better 🤦🏻 👨🏻🍳
awesome video! also the first iteration of the pizza looked pretty dope! which pizza oven is it?
Thanks Luba! Hope ur recovering from VidCon. It’s an Ooni!
What camera are you shooting on ? Looks great!
Great vid! How did you get a significant number of survey responses? Sometimes I feel like that can be the hardest part.
Definitely tough if you’re early and don’t have much customer traction - you can incentivize in that case with a gift card / some other sort of more personalized value!
Love the video! May I understand how often we should conduct these surveys too? Especially when it's sent back to the ones who have filled it up before. Thank you!
i'm actually doing this now for an app im building.
literally took my pen and notebook for this.
simple metaphors prove your genius
Great advice Jay. Pls where can I get the Superhuman Engine for PMF.
This is the full article you can reference! review.firstround.com/how-superhuman-built-an-engine-to-find-product-market-fit
genius. I'm only commenting so I can get more of your video on my feed haha
I am very happy for your PMF but please chill with the olive oil!!!!
Hahahahahah will do 🫒 🫡
Digging the pizza-product fit while you explain product-market fit. Entertaining and educational.
Y combinator defines it fairly well (in the context of a startup) as achieving a virality coefficient of 1.1, meaning on average for each user you get they will tell 1.1 other people who will actually use it. Obviously, the numbers don't make much sense if not thought about in averages. If your able to achieve this, then your users will grow exponentially over time. Y combinator has videos on the relevant KPI's (key performance metrics) to keep track of in order to know if you have hit product market fit.
This is great! Lmao
please buy a pizza cutter
Felt like I've just watched Kill Bill 2's final scene where Bill was preparing sandwich for his daughter, while giving some kind of lecture. Lol
This was actually a great frikin video
who knew!!! haha - thanks Hannan! 🍕
You gonna be big soon leaving this so its known I saw you early
Let’s both come back to this when I get big one day! Cheers and thanks for being an early supporter!
great video
The flour on the macbook at the right corner of screen is triggering
Same tbh 🍞 🍕
great video!
I love your vids!! How long did it take you to develop your MVP (I assume it was by yourself)?
1 month! Unless you're building something super deeply technical, try to hold yourself to shipping as soon as possible!
@@jayhoovy Holy!! Thats crazy. Thank you!
You are brilliant, don't give up!
Wholesome! Can't wait for Stan to get to that >40%
How long into the startup journey should one get to test for product market fit
P R O M O S M 🌟
How did you get the lighting so nice?
the sun :3
Hey Jay, great video explanation of how to iterate on customer feedback to get closer to PMF. What tools do you use to run this survey among your users? Did you incentivize your users to complete this survey? If yes, how?
don't need anything more than a typeform/google forms! and ideally you should have strong enough customer connection that they'll willingly fill out - but yes, can always incentivize
How did you get the demographics of the customers? Were your customers selected ( people you knew ) or random? Because I don't see how you can get information about their demographics unless you make them fill out another survey or put personal information into your app.
We just asked them those questions in the survey they filled out!
Hi Jay! Good to find you again after you left me a comment on my page you’re inspirational.
Glad to hear Mary! Cheers!!
I've been really loving your videos - thanks for documenting your journey
D'aww - thank you so much for the kind words Marie! The hope is that you take all of my learnings from my journey, and they make you even more successful in yours!
Hey, cool video! How many people have to fill out the survey to take accurate insights?
I would try to get at least 30 responses to make sure you have meaningful enough data!
Man I literally followed your videos first … then got stan… and then only realised it’s yours 😂
HAHAHA love to hear it Robert! Please reach out anytime we can be helpful - and welcome to the #StanFam!
Thanks for the amazing content and making it fun and simple to understand
Great Video! I’m curious if you’d be open to talking about how you get paid as a founder before hitting profitability? It’d be interesting to hear the dynamics of how you determine a salary while balancing other aspects of the businesses needs.
I just paid myself a living wage of $70k! But as the company gets more successful I plan to pay myself a bit more - I personally am super happy living with pretty little - I'm lucky to have a roof to sleep under + food on the table - and other than that + loved ones, I'm content. :)
I'd say general rule - pay yourself at minimum enough to not have stress deteriorate your actual ability to work on the startup! From there, kind of up to you!
It is reaaly good video 🎉🎉🎉
Great video, John! The fit is not easy to achieve but once we hit it, it feels so seamless...
So true Anna! Thanks for the kind words as always - your comments and support make my day!
Do you have a newsletter / blog where you write about your learnings? This was a great breakdown of PMF!
Yes I do! I’m about to pub a new one Monday: thecreatorentrepreneur.substack.com
@@jayhoovy Subbed. Good luck growing your channels!
Hi Jay, I have one question w.r.t. asking users of how do they feel if they stop using our product. Can we ask this question (i.e. would the answers would be valid) to clients to whom we recently pitched our product to?
Yes! But it will be less effective and true signal vs someone actually using it!
@@jayhoovy after pitching the product people praise it a lot but are not forward to using it, then in this case the existing users are low too then how to check for PMF
@@jayhoovy I want to check if PMF is the reason of why users are coming in board
This was great! I've been using the Superhuman Engine for PMF too, pretty powerful framework. Dude your channel is great, I've really been enjoying hearing your challenges and learnings.
Appreciate the kind words Harsh! Any specific learnings or challenges you'd want me to cover? Hoping it helps in your own entrepreneurial journey!
@@jayhoovy My friend, more of a meta-challenge/learning: how do you navigate stress and burnout as a founder? I recall in your board meeting with Forerunner in one of your recent vlogs that you mentioned you were feeling burnt out. Wondering if you have any tips/tricks/frameworks to ease burnout while on this crazy journey.
Watching the video I would've guessed that you had at least a million subs. Great work man you deserve more attention
We're on our way there! Thank you for being along for the journey!
This is brilliant
W
W
love the video! , keep it up Jay!
Appreciate the kind words Akbar! Cheers!
Doing an amazing job. Keep it up.
You're part of the reason I'm keeping going Charles! Thanks so much for the kind words!
Best explanation of PMF ive seen
@@jayhoovy for sure! you made it really easy to digest by quantifying it. Although one needs to be really careful about these results… if you send this survey to the wrong user segment you are f*
Quick question… why was your first reaction to the results to double down on the features wanted by the 10%? After seeing the results my brain 🧠 immediately asked how can I make the 40% move to those 10%.
Just wondering about the thought process 💭
Thanks for not putting pineapple on pizza, Jay. That means a lot to us Italians. Another proof this guy understands what PMF truly is.
Thought about doing it just to troll ya haha! Ciao Francesco!
Banger vid
Banger sub - thank you sir
@@jayhoovy i aspire to be you some day
Hey Jay, Love your videos! ... will be great if you can find a way to collab with @ColinandSamir, it will be a good thing for Stan.
Hey jay love your content, would love to connect on twitter (if you have one :D)
I do! @Jayhoovy! But I don't check it very often