How to Measure Product Market Fit

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So I wanted to revisit a few of the terms that you have woven into the conversation thus far. Could you pick apart each one of those and if you think about the term product market fit what precisely do you mean by it? What does it mean to you because it's one of those squishy terms and can we do the same thing for go to market fit etc. Yes for sure this is the model that comes from a number of different places right some experience and some other books like survival and scaling up and partly empowered and founders at work and the start up and so forth.

Our guest today is Artem Kroupenev, VP of Strategy at Augury.

Augury is a leader in a category they helped to define known as “machine health.” The company sells products that combine hardware, AI, and SaaS within industrial manufacturing.

Artem joined the team at the very beginning of its journey and helped shape strategies for how the team measured product-market fit, go-to-market, and eventually, a strategy for designing a brand new market category they could compete in.

In our conversation today, we dive deep into measurable product-market fit and category-creation strategies. Artem shares particular wisdom on:

Augury’s storyboard-based approach to product vision
How to sell to a limited pool of customers
The REV (revenue, engagement and value) model from measuring product-market fit
When founders should start exploring creating a new category to operate in

You can follow Artem on Twitter at @artemkroupenev You can email us questions directly at review@firstround.com or follow us on Twitter @firstround and @brettberson.