A Product Market Fit Show | Startup Podcast for Founders
00:36:14 · Pablo Srugo, Jeremy Liew
[00:36:14] S1: Maybe just as a final question, obviously you've seen the growth of Snap and you've seen many other consumer apps. From the perspective of let's say there's a founder of a consumer app, they're getting some growth and they want to get a sense of do they have real product market fit, as you think through that question, what are some of the top things that you look for? [00:36:33] S0: I would say it's those four questions that I led with the beginning, could this become part of pop culture, and a subset of that is, what's demographics of the power users if they're still young and female. That's definitely a good indicator. If you think about a lot of it's not just Snap, Instagram, Facebook, MySpace, they all started with young female users. Pinterest, maybe older female users, I think Reddit's really the only big social media example that started with a primarily male audience, which doesn't mean – I'm not suggesting that – obviously Reddit exists, it can happen, but if you look at the preponderance of the data – [00:37:06] S1: The pattern, yeah.
00:37:06 · Pablo Srugo, Jeremy Liew
[00:37:06] S1: The pattern, yeah. [00:37:07] S0: There is a pattern that says young female users is very positive for that, so could it become part of pop culture? Is it building new habits? Is there a scalable repeatable way to grow? By the way, that doesn't have to be real world virality. That's the best form, but it doesn't have to be that. You can do manufactured virality, you can do invitations many people do. You can do paid marketing. Is it scalable and repeatable? Then finally, does the founder have a unique insight that explains it all? Both parts of that are important. Is it an insight? Is this something that really explains what's going on and is it unique? To say, oh, well this is working because everybody has a milk float now, that's not a unique insight, but what Evan came up with was a unique insight. [00:37:47] S1: We'll stop it there. Thank you very much for taking the time. That was some great anecdotes and I think will really help founders understand how Snapchat happened, but I think more generally what it takes to build one of these NF1 companies. [00:38:03] S0: Terrific. Good. Glad to be able to help.
00:38:03 · Jeremy Liew, Pablo Srugo
[00:38:03] S0: Terrific. Good. Glad to be able to help. [00:38:06] S1: If you listened to this episode and the show and you like it, I have a huge favor to ask for you. It's actually a really small favor but it has huge impact. Whichever app you're listening to this episode on, take it out, go to Product Market Fit show and leave a review, please. It's going to help. It's not just going to help me to be clear, it's going to help other founders discover this show because the algorithms, whether it's Spotify, whether it's Apple, whether it's any other podcast player, one of the big things they look at is frequency of reviews. It's quantity of reviews. The reality is, if all of you listening right now left reviews, we would have thousands of reviews. Please take literally a minute, even if you're just writing "great podcast or I love this podcast," whatever it is, just write a few words. Obviously the longer the better, the more detailed the better, but write anything, leave five stars, and you'll be helping me but most importantly, many other founders just like you, discover the show. Thank you.