ProductLed Podcast

How Startups can achieve Product-Market Fit

Oct 10, 2023

Sara Stojanovski, an expert in leading engineering and design teams, shares insights on finding product-market fit, including conducting customer interviews, prioritizing assumptions, and leveraging frameworks like the Product-Market Fit cycle.

39:39

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Episode guests

Sara Stojanovski

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Quick takeaways

The importance of conducting customer interviews to validate assumptions and understand customer needs in achieving product-market fit.

The value of continuously learning, adapting, and testing assumptions through techniques like assumption mapping and the product-market fit cycle.

Deep dives

Key Points on Career Progression

Sada Stoyanowski discusses her career progression in product management, transitioning from marketing to digital product management, and eventually becoming a product manager. She highlights the importance of adaptability and the ability to balance different fields of business, UX, and technology. Sada emphasizes that anyone with a curiosity for solving customer problems, a willingness to learn, and the ability to collaborate can excel in product management.

Introduction

5min

Adapting product management approaches to different stages of the startup journey

7min

Validating Assumptions and Testing Methods

22min

Transitioning to an Outcome-Based Approach

2min

Planning, Recommendations, and a Thank You

3min

Product-market fit is the compass that steers startups toward success, minimizing risk, fueling sustainable growth, and aligning offerings with customer needs. In this week's installment of the Growth Trends series hosted by Maja Voje, we focus on finding the “holy grail” of SaaS – your product-market fit.

Our guest, Sara Stojanovski, brings rich expertise in leading engineering and design teams, having successfully launched over 30 digital products and ventures. Throughout this episode, Sara shares her insights on crucial aspects of finding PMF such as conducting customer interviews, effectively prioritizing assumptions, and leveraging frameworks like the Product-Market Fit cycle.

Key Takeaways:

[00:10] Introduction of Sara Stojanovski

[00:55] Sarah's transition to growth-stage product management

[03:30] A challenging product-market fit journey in the heavy machinery industry

[04:50] Startup journey common barriers and misconceptions

[06:00] Prioritizing and mapping assumptions

[07:00] Customer interviews in validating assumptions

[08:30] The value of problem interviews and solution interviews

[11:55] Strategies to overcome startup challenges

[12:35] The process of assumption mapping and experimentation

[16:25] Customer interviews

[18:10] How to ask the right questions in customer interviews

[19:10] The value of face-to-face customer interviews

[20:40] Connecting with customers in person

[21:15] Framework for Product Market Fit cycle

[23:10] Testing and measuring customer's resonance

[23:50] Product-market fit is an ongoing, iterative process

[25:05] Example applying cycle framework principles

[26:45] User story mapping and usability testing play vital roles

[27:40] Data analysis informs product decisions

[29:05] Rapid product experiments for validation

[31:25] Outcome-based work shifts focus from outputs

[34:30] Objectives and key results (OKR) approach

[38:10] Suggests resources for further reading

About Sara Stojanovski:

Sara is a Senior Product Manager at Glofox, specializing in customer research, product discovery, and product management. She has extensive experience helping startups achieve product-market fit and is known for her practical workshops and frameworks. With a team leadership and communication background, Sara has a proven track record of driving growth and commercialization in various industries, including healthcare and insurance.

Links:

Sara Stojanovski | LinkedIn