Lessons of a Harvard StartUp Part 3: Product, Team, and Market should ALL FIT.
Just left SF after pitching at Tech Crunch Disrupt and, aside from placing in the top 5, the most exciting thing for me was learning from my peers at TC Disrupt. Deon from Forethought AI, Neesha from Tech Crunch, and a ton of other people who helped us refine our pitch and grow as presenters. We. Learned. So. Much. However, I feel that the most important lessons I learned while in the Valley were:
- The product is important, but the market is more important, and timing is even more important than that. I feel that as a member of the fintech space where regulation and sexy products is the norm, focusing on product tends to be at the forefront of my mind. Watching and hearing stories from other founders, I came to the realization that market and timing are important as well. Jess Lee said it best, the market has be big and timing right for anything to work.
- Keep your customers close but keep your team closer. Reacting to customer feedback in real time can be hard alone, and without a dedicated and loving team, no startup even makes it to product-market fit.
- Product-market fit, even if the product is the same for different target audiences, is an ever-evolving idea. There is never a day where a product or a company is “done”. Companies as big as Google or as small at StrattyX are all working on product-market fit constantly. Though every company has its core, for Google it’s ads and for StrattyX its automation, the idea of working to adjust your business, being creative, and working to understand users is the same.
- Founders have to learn how to tell stories so people understand their vision. Invention without commercialization is just a school project or a really cool idea.
Thank you to everyone who has been using our product. We work every day to make product market fit a thing, and want to keep iterating for our users :). That being said, the public beta is out on IOS with Android out in the next 5 days. Please download and provide feedback at www.strattyx.com!
Also made a youtube vlog thing to go with this you can watch here: https://youtu.be/m3F1AmVt-G8
Co-founder and CEO of StrattyX