The Journey to Product Market Fit

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

I was very clear that artificial intelligence in combination with very clear data set and signals from those machines is the way to really build something that can provide a lot of value. To get the initial data set was very difficult, it just did not exist. And so we have essentially built a product that transitioned from a manual human based diagnostic tool and capability to something that is enabled and enhanced by AI.

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.