Lenny's Podcast · Apr 11A framework for finding product-market fit | Todd Jackson (First Round Capital)
Had demand and satisfaction but never the efficiency, so the business did not work at scale.
Tips
Company · Business software
WeWork
A flexible office space provider.
What was said about WeWork
Product strategy and PMF2
- Define product-market fit as demand, satisfaction and efficiency, not just customer love▶ 17:29WeWork and Casper got demand and satisfaction but never efficiency, so the business did not work at scale.Lenny's Podcast · A framework for finding product-market fit | Todd Jackson (First Round Capital)
- Understand why people love your product and double down on that core▶ 56:06Pattern JZ saw across Dropbox, Airbnb, WeWork and Webflow (where the designer and CMS are the core).Lenny's Podcast · Building minimum lovable products, stories from WeWork & Airbnb, and thriving as a PM | Jiaona Zhang
Teams and execution1
Lenny's Podcast · Apr 11Lenny's Podcast · Jul 2Building minimum lovable products, stories from WeWork & Airbnb, and thriving as a PM | Jiaona Zhang
Its edge was inventory and operations, not tech, yet the tech team was hired beyond what the product needed, and layoffs followed. Zhang learned to gate hiring on milestones and results.
Tips
- Understand why people love your product and double down on that core▶ 56:06Pattern JZ saw across Dropbox, Airbnb, WeWork and Webflow (where the designer and CMS are the core).
- Avoid over-hiring by gating headcount on milestones and results▶ 37:42Laying off half a team you hired is a terrible feeling, so JZ is conscious of it at every company.
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