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- Lean B2B
More About This Title Find Your Market
- English
English
A short, practical guide showing you how to find the right market for your product or innovation
The market a startup chooses to pursue has a significant influence on its odds of finding success.
Pick a strong market with customers that value the unique benefits of your product or innovation, and hypergrowth might follow. Pick the wrong market, and everything will feel like a slug...
You'll have to fight for every call. Every meeting. Every demo. Every client. Your team won't be excited. And you'll have a hard time staying motivated...
In spite of the importance of picking the right market, entrepreneurs spend little to no time thinking through their market strategy.
Unsurprisingly, 73% of startups enter the wrong market, first.
That's time they waste, runway they lose, and opportunities that are suddenly off the table.
Deciding which customers to target should never be an afterthought.
Learn to identify the right market for your innovation, every time
Find Your Market will show you how to:
Flesh out the core value of your product or innovation
Identify promising market opportunities derived from the unique strengths of your technology
Strategically evaluate the most promising market opportunities
Gain conclusive evidence that a market is worth committing to
Mold your positioning and go-to-market strategies to get the growth engines going
Evaluate the market or customer fit on an on-going basis
Identify expansion market opportunities to keep the growth going
It's everything you need to make great market selection decisions.
Find Your Market was written for:
Deep Tech or Frontier Entrepreneurs: Founding teams with unique technologies, ideas, or inventions that can be valuable to dozens of different types of users or organizations. The upside of each market opportunity may vary greatly.
Solution-First Startups: Founders that may have already built a full product, or large parts of a product, and that are now looking for greater traction or early customers.
Technology-push firms: Technology-push organizations like Technology Transfer Offices (TTOs) or Research Commercialization Offices tasked with the direct or indirect commercialization of inventions and research findings.
The market a startup chooses to pursue has a significant influence on its odds of finding success.
Pick a strong market with customers that value the unique benefits of your product or innovation, and hypergrowth might follow. Pick the wrong market, and everything will feel like a slug...
You'll have to fight for every call. Every meeting. Every demo. Every client. Your team won't be excited. And you'll have a hard time staying motivated...
In spite of the importance of picking the right market, entrepreneurs spend little to no time thinking through their market strategy.
Unsurprisingly, 73% of startups enter the wrong market, first.
That's time they waste, runway they lose, and opportunities that are suddenly off the table.
Deciding which customers to target should never be an afterthought.
Learn to identify the right market for your innovation, every time
Find Your Market will show you how to:
Flesh out the core value of your product or innovation
Identify promising market opportunities derived from the unique strengths of your technology
Strategically evaluate the most promising market opportunities
Gain conclusive evidence that a market is worth committing to
Mold your positioning and go-to-market strategies to get the growth engines going
Evaluate the market or customer fit on an on-going basis
Identify expansion market opportunities to keep the growth going
It's everything you need to make great market selection decisions.
Find Your Market was written for:
Deep Tech or Frontier Entrepreneurs: Founding teams with unique technologies, ideas, or inventions that can be valuable to dozens of different types of users or organizations. The upside of each market opportunity may vary greatly.
Solution-First Startups: Founders that may have already built a full product, or large parts of a product, and that are now looking for greater traction or early customers.
Technology-push firms: Technology-push organizations like Technology Transfer Offices (TTOs) or Research Commercialization Offices tasked with the direct or indirect commercialization of inventions and research findings.
- English
English
Étienne Garbugli is the lead instructor, and CEO of Lean B2B.
He's a three-time startup founder (Highlights, Flagback, and HireVoice), a five-time entrepreneur, and a customer research expert.
In 2014, he published the first edition of Lean B2B: Build Products Businesses Want. The Lean B2B Methodology has helped thousands of entrepreneurs and innovators around the world build successful businesses.
Étienne is also the author of Solving Product, Find Your Market, and The SaaS Email Marketing Playbook.
He's a three-time startup founder (Highlights, Flagback, and HireVoice), a five-time entrepreneur, and a customer research expert.
In 2014, he published the first edition of Lean B2B: Build Products Businesses Want. The Lean B2B Methodology has helped thousands of entrepreneurs and innovators around the world build successful businesses.
Étienne is also the author of Solving Product, Find Your Market, and The SaaS Email Marketing Playbook.
- English
English
How to Use This Book vi
I Introduction
1 Why this Book 3
Technology. Problems. 4
The Challenge With Customer Development 5
The Market of Find Your Market 6
II Getting Started
2 The Starting Point 11
When Plans Meet Reality 12
Launches Are Rarely 1 or 0 14
Taking Stock of Your User Base 15
3 Mining for Gold 16
Analyzing the Outcomes 17
Recruiting for User Interviews 20
Conducting Interviews 21
Case Study :: How Informavores Doubled its Growth
Rate by Zooming in on a 20% Use Case 4 Can It Be a Market? Extrapolating Markets 28
Is There a Market in The Gap?
Going All In 31
III New Markets
5 What a Great Market Looks Like 35
Why Veeva Systems Won 36
What a Market Really Is 38
Finding the Right Fit (And the Right Size) 40
6 What Your Product Enables 44
A Breakdown 45
Where it Starts 46
Job Assumptions 48
Value Assumptions 50
Case Study :: Locking in on the Core Value of Superpowered 52
Putting it All Together 54
7 Value/Market Assumptions 56
Finding Markets 57
Case Study :: How Psykler Brainstormed Market Opportunities 59
8 Prioritizing Market Assumptions 62
Critical Prioritization Factors 63
Situational Prioritization Factors 68
Case Study :: Why Algolia Prioritized Recognizable Brands 72
Shortlisting Markets 74
9 Exploring Markets 77
Who to Reach out to 78
Recruiting Prospects for Interviews 80
Conducting Interviews 81
Analyzing the Results 83
Case Study :: How Psykler Locked in on its MVS 85
10 Finding the Buyers 88
The Problem Owner 89
The Budget Owner 90
Conducting Interviews 91
Analyzing the Data 92
Case Study :: How Alex Berman Finds the Buyer in Large
Organizations 94
11 Analyzing Your Findings 96
Finding the Sweet Spot(s) 97
Analyzing Your Markets 98
(Re)Prioritizing Markets & Sub-Segments 101
Case Study :: How TensorGraph Invalidated its Market 103
IV Validating Your Findings
12 Validating Markets 109
Preselling Your Solution 110
Testing Market Dynamics 113
Analyzing the Results 117
Case Study :: How Unitychain Validated Social Use Cases 118
13 Selecting Your Core Market 121
Selecting a Core Market 122
Why You Need More Than One Market 122
Cataloging Extra Markets 123
Why Committing is Hard 124
Case Study :: How the Market Found UiPath Six Years In 126
V Speed
14 Committing to Your Market 131
Committing Internally 132
Committing Externally 133
Case Study :: How Wistia Discovered How it Could
Reach its Customers 134
Deepening Your Understanding of the Market Aligning Touch Points 138
Aligning References 140
Getting Embedded in the Market 135
141
Case Study :: How Flutura Embedded Itself in the Oil &
Gas Market 142
Becoming a Key Contributor 144
15 Proactively Growing Your Customer Base 146
Proactive Growth Strategies 147
Creating an Echo Chamber 149
Case Study :: How ConvertKit Created Echo Chambers
Through Micro Niche Targeting 152
VI Conclusion
16 Conclusion 157
There’s *Almost* Always a Positioning 158
Parting Words 159
VII Troubleshooting
17 How to Know if You’re Spinning Your Wheels 1. Trying to Scale a Non-Market 2. Trying to Sell a Product That Lacks Differentiation 163
164
165
3. Key Strengths Neglected 166
Case Study :: How Vimeo Shifted From Being a YouTube
Alternative to a $5B B2B Company 4. Multiple Good Markets 169
5. No Ideal Market 170
6. The Market Just Can’t Meet Your Goals 168
171
Case Study :: How Building Three Different Products
Helped Jive Find the *Right* Market Fit 7. Your Market Expansion Doesn’t Add Many Distinct Customers 172
174
Next Steps 176
Acknowledgments 177
Notes 179
About the Author 186
Also by Étienne Garbugli 187
I Introduction
1 Why this Book 3
Technology. Problems. 4
The Challenge With Customer Development 5
The Market of Find Your Market 6
II Getting Started
2 The Starting Point 11
When Plans Meet Reality 12
Launches Are Rarely 1 or 0 14
Taking Stock of Your User Base 15
3 Mining for Gold 16
Analyzing the Outcomes 17
Recruiting for User Interviews 20
Conducting Interviews 21
Case Study :: How Informavores Doubled its Growth
Rate by Zooming in on a 20% Use Case 4 Can It Be a Market? Extrapolating Markets 28
Is There a Market in The Gap?
Going All In 31
III New Markets
5 What a Great Market Looks Like 35
Why Veeva Systems Won 36
What a Market Really Is 38
Finding the Right Fit (And the Right Size) 40
6 What Your Product Enables 44
A Breakdown 45
Where it Starts 46
Job Assumptions 48
Value Assumptions 50
Case Study :: Locking in on the Core Value of Superpowered 52
Putting it All Together 54
7 Value/Market Assumptions 56
Finding Markets 57
Case Study :: How Psykler Brainstormed Market Opportunities 59
8 Prioritizing Market Assumptions 62
Critical Prioritization Factors 63
Situational Prioritization Factors 68
Case Study :: Why Algolia Prioritized Recognizable Brands 72
Shortlisting Markets 74
9 Exploring Markets 77
Who to Reach out to 78
Recruiting Prospects for Interviews 80
Conducting Interviews 81
Analyzing the Results 83
Case Study :: How Psykler Locked in on its MVS 85
10 Finding the Buyers 88
The Problem Owner 89
The Budget Owner 90
Conducting Interviews 91
Analyzing the Data 92
Case Study :: How Alex Berman Finds the Buyer in Large
Organizations 94
11 Analyzing Your Findings 96
Finding the Sweet Spot(s) 97
Analyzing Your Markets 98
(Re)Prioritizing Markets & Sub-Segments 101
Case Study :: How TensorGraph Invalidated its Market 103
IV Validating Your Findings
12 Validating Markets 109
Preselling Your Solution 110
Testing Market Dynamics 113
Analyzing the Results 117
Case Study :: How Unitychain Validated Social Use Cases 118
13 Selecting Your Core Market 121
Selecting a Core Market 122
Why You Need More Than One Market 122
Cataloging Extra Markets 123
Why Committing is Hard 124
Case Study :: How the Market Found UiPath Six Years In 126
V Speed
14 Committing to Your Market 131
Committing Internally 132
Committing Externally 133
Case Study :: How Wistia Discovered How it Could
Reach its Customers 134
Deepening Your Understanding of the Market Aligning Touch Points 138
Aligning References 140
Getting Embedded in the Market 135
141
Case Study :: How Flutura Embedded Itself in the Oil &
Gas Market 142
Becoming a Key Contributor 144
15 Proactively Growing Your Customer Base 146
Proactive Growth Strategies 147
Creating an Echo Chamber 149
Case Study :: How ConvertKit Created Echo Chambers
Through Micro Niche Targeting 152
VI Conclusion
16 Conclusion 157
There’s *Almost* Always a Positioning 158
Parting Words 159
VII Troubleshooting
17 How to Know if You’re Spinning Your Wheels 1. Trying to Scale a Non-Market 2. Trying to Sell a Product That Lacks Differentiation 163
164
165
3. Key Strengths Neglected 166
Case Study :: How Vimeo Shifted From Being a YouTube
Alternative to a $5B B2B Company 4. Multiple Good Markets 169
5. No Ideal Market 170
6. The Market Just Can’t Meet Your Goals 168
171
Case Study :: How Building Three Different Products
Helped Jive Find the *Right* Market Fit 7. Your Market Expansion Doesn’t Add Many Distinct Customers 172
174
Next Steps 176
Acknowledgments 177
Notes 179
About the Author 186
Also by Étienne Garbugli 187
- English
English
“Find Your Market, 3 simple words that most entrepreneurs will never achieve. Why? Because it’s fu**ing hard! Reading this book will change the way you build your business.”
Sébastien Bibeau
Co-Founder & Chief of Innovation of Ton Équipier
“Find Your Market provides many valuable case studies for startups and more established companies concerned with either finding the first market for their product or additional markets for expansion.”
Sean K. Murphy
Founder & Principal of SKMurphy
“Find Your Market resonates with my journey as a technical founder. We had a powerful, novel technology with many possible applications, and we needed to find the right market for it. This book addresses this scenario. It gives tactical and strategic advice for founders starting with an innovation that wants to find their market. I highly recommend this book!”
Prasad Chalasani
Co-Founder & CEO of XaiPient
“A great book with step by step guidelines to finding your market, wether you have clients and need to grow or are starting to look for product market fit! Love the part on how to make market assumptions and how to prioritize them. It’s very helpful! A very good book to read and continue to work with Lean B2B.“
Paola Serna
Co-Founder, DATUP
Sébastien Bibeau
Co-Founder & Chief of Innovation of Ton Équipier
“Find Your Market provides many valuable case studies for startups and more established companies concerned with either finding the first market for their product or additional markets for expansion.”
Sean K. Murphy
Founder & Principal of SKMurphy
“Find Your Market resonates with my journey as a technical founder. We had a powerful, novel technology with many possible applications, and we needed to find the right market for it. This book addresses this scenario. It gives tactical and strategic advice for founders starting with an innovation that wants to find their market. I highly recommend this book!”
Prasad Chalasani
Co-Founder & CEO of XaiPient
“A great book with step by step guidelines to finding your market, wether you have clients and need to grow or are starting to look for product market fit! Love the part on how to make market assumptions and how to prioritize them. It’s very helpful! A very good book to read and continue to work with Lean B2B.“
Paola Serna
Co-Founder, DATUP
