Lenny's Podcast · Apr 11A framework for finding product-market fit | Todd Jackson (First Round Capital)
Its 2014 'AI legal assistant' pitch went nowhere because nobody searched for it. After a prospect asked 'Are you a CLM?', it repositioned into that existing category and beat 10 to 12 established vendors with a demo built on a train.
Tips
- Use the four Ps to decide what to pivot when stuck▶ 32:03Lattice kept the persona (HR heads) but changed problem and promise from OKRs to performance management, selling its first 5 to 10 customers with Figma mock-ups. Vanta changed all four. Plaid kept its product and changed the other three.
- Position inside an existing category instead of inventing a new one▶ 48:06They won a contract against 10 to 12 established vendors with a demo built on the train ride, and the repositioning got them through 10 to 30 customers.
