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A Summary of

The Product / Market Fit Scorecard: Stop Wondering, Start Measuring

by
Mason Adair
Medium
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Objectively assess whether a product has reached market/product fit

Scaling is a choice, growth isn’t

  • What is the right time to invest in scaling measures?
  • If the opportunity presents itself
  • You won’t know exactly when product/market fit will happen
  • When it does, must know it’s happening to make well-time scaled investments

Timing is critical

  • If you achieve product/market fit you need to scale
  • But scaling prematurely will kill efficiency
  • Have realistic expectations of timing
  • While waiting actively measure indicators

What should you monitor?

  • 6 themes to indicate product/market fit
    • Acquisition
    • Revenue and Customers
    • Retention and Reinvestment
    • Referrals
    • Separation Anxiety
    • Intuition
  • Develop KPIs that monitor each of these themes

Product/market fit scorecard

  • Build a scorecard split into 6 themes
  • Split each theme into ‘objective’ and ‘subjective’ clusters
  • Use surveys to gauge ‘subjective’ cluster

Blending measurement and intuition

  • Scorecards create team discussion and information gathering
  • Create ‘caveat’ column for team
  • Tailor your scorecard to your context

Using scorecard in practice

  • Make sure team knows and discuss fit in context of OKRs
  • Involve stakeholders in scorecards
  • Set up a real-time dashboard to track your scorecard
  • Review fit status with stakeholders
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