12:23 "Now stop watching and go build something" LoL, when most other channels ask to watch yet another this or that video, you encourage entrepreneurs to stop watching and start building. That commands respect and deep desire to smash those "like" and "subscribe" buttons.
The best product market fit explanaitory video I've seen. I thought I was here for a few minutes, but I was so engaged with it I watched the entire thing. Thank you for sharing this!
Hey, Helini Thank You so much for being here. I think now I have a YT mentor. My start-up is a new idea that has the potential for global growth in the service sector and we will provide different kinds of products for 2 customer segments. Do you have any tips for businesses with multiple features?
I don't know exactly what you're building so this is more generic advice. If at all possible build only for one segment. Focus like crazy and win that segment, then you can expand it later.
Dear God, I just have to say thank you algorithm to share me this channel! Amazing content! I’m building my App company, your content is helping me a lot!
Hi Heini! Just recently found your channel and been consuming these videos. Very helpful! In this video at 4:55, your third bullet point says "get the mvp in front of customers as quickly as possible". How did you figure out which market segment you wanted to launch/market Vivino to? Did you test the mvp with various customer segments at the same time and assess which segments found the most value in it? And then allocate resources to marketing to that specific segment? Maybe you could make a future video to help founders learn how to identify the right beachhead market segment when there are many possible market segments to focus on! Especially for medtech hardware companies like my own;)
Thanks, this a big question. The short answer is to find the people that need your product the most. Not the biggest group, not the smallest group, but the group that needs your product the most. They are the ones that are most hungry for this and will be willing to live with the problems that a young product has. Their pain is so big that they will accept a lot of imperfection.
Good video. So. I have a question: what do you suggest when you say: “be careful when you are acquiring users quickly because it can affect your active user metric”. How can we solve this? This is happening to us. We acquired like 400 users in a week and the active users go up… but then down. How can we start analyzing this to not be confused?
I think you just need to be aware of it. Let's say you get 1000 users from a press piece, just be aware that your relative MAU may go down and that is ok. Don't change the product because you think something was wrong with the product, in reality it was some bad users that came in.
love your vids...been developing an mvp for 3 years....prob back to front...now i need to find a mvm ...minimul viable market...sometimes the five steps can come in any order ? what do you think ?
May I ask a question? On the release cycle: You are talking about releasing new features for the one product you have. Does make sense to release alternative versions of the main product or complementary independent services too? (My product is not an app, but a solid physical object). Fantastic video! Thanks a lot!
Hi Heini, Davide here! Thanks for sharing your knowledge with us. I can imagine that at the very beginning of your journey with Vivino you had ratings based on really few reviews/people. How did you gain retention/trust in this situation? I mean, as user I would not "trust" your ratings if these were mostly based on let's say only 2 people. In other words: how did you manage at that time to populate your database with reviews and hence ratings so that you were confident enough to put your MVP out there? This seems to me a classic "chicken and egg problem". People first and ratings after, or ratings first and people after? Further I was wondering where you launched your MPV: in Denmark or directly world wide? In English or Danish? Thanks.
I think the trust part is hard, you can't really rush that, you build it over time. What you can do is do things manually while you're still building stuff. For example we really didn't know many wines in the beginning and therefore the "machine" couldn't match many wines. Instead we matched them manually. Had a team that just did it by hand. So try and give your users whatever value you can, even it if includes manual work. We launched globally and with our product I think it was the right decision at the time. Really depends on the product.
I would assume you either have the problem yourself or know somebody who has the problem you're trying to solve. Just show it to them, it doesn't have to be hundreds of people it could be 10
I don‘t use Vivino to tell me if I like a particular wine. I haven‘t done so since I started using the app (9 years ago). I just use it to take a note for myself (usually just to remember if I should buy that wine again). Is Vivino actually solving a much easier problem than telling me if a wine is good/bad? Would you agree that problem/ solution thinking is overrated vs. simple usage statistics?
Well this is interesting, in the beginning that was our product market fit. Never forget another wine. However that is a much smaller use case, just fewer users. Our growth really exploded when we were able to say if a wine is good or not so good.
I have one tip that most people find helpful - Estimate tasks in story points... Where 1 story point = 1 day expected time. For some reason, we don't do that much in the tech community. But it helps a lot.
Hii sir, Your vidoe was so informative for me because only through yt videos and Google research, I can learn more and more about entrepreneurship. I have a startup idea which is to provide maid service to the houses . I couldn't start this idea until i complete my high schools. So there are few more companies like my idea who provide maids but I never copied my idea from them infact I got to know about all the companies after i searched on Google. I got demotivated because before I start an idea someone else did it . Can you please guide me that CAN I SURVIVE IN THIS COMPETITION IF I START THE IDEA I HAVE AFTER FEW YEARS??? THANK YOU❤🙏
Hello! Been watching your videos and have learnt just so much! I was wondering if you had an email for this channel, to possibly help answer some questions regarding start up equity finance and it’s structures? I’m a founder in the middle of finishing building my MVP and am looking for some experienced advisory, even if it’s an occasional email!! Keep up the amazing work though! ✌️
Hi, I hope my question is answer, because am watching this very late😭😭 But my question is, i have competitors already in my product, and there are doing well, do i still need to go out there and ask questions on the product
@@RawStartup sorry let me try and simplify it. In this video u say something about, when starting out, and the problem your solving it's not inline with what you do, we should go out and ask the audience that inline with the product. Now am saying they is a software already in the space solving this same problem, and doing very well interms of retention and usage and have little or no competition, and wanted going after this also, but make mind better. Am I go to go??? Anticipating for your response... Thanks
“There’s no point in making a product that people use once and throw away”… condoms; “am I a joke to you???” 😅 sorry was just a funny thought when I heard you say that line haha
Let's say that you're just a guy with a garage like steve jobs or bill gates, and you wanted to make that wine app, but you don't have money to hire a programmer to make it, how do you make the app?
Either find a little money, maybe a few hundred dollars to build something, even just a UI or a simple prototype. Find a way, resourcefulness is one of the most important things when it comes to being a founder, find a way...
Your videos have been amazingly helpful to me. Would you be willing to help more founders on Clubhouse? I run a club for First Time Founders on Clubhouse and it'd be really amazing to have you in one of our rooms and answer questions founders have. Looking forward to hear from you :)
![NEVER Say This To An Investor [9 Things]](http://i.ytimg.com/vi/9yZsTCoEzZk/mqdefault.jpg)
You can't build every idea but you can listen to every idea. Criminally Underrated
That is true, if you have the time at least.
Learned more about PMF in 15 minutes than in 2,5 months of entrepreneurship classes in university! Thanks, lifesaver for my exam tomorrow!
Wow, thanks, glad it was helpful! Good luck with exam!
I've probably watched/read 100's of content on this subject and this one easily lands in the top 3. Awesome work!
12:23 "Now stop watching and go build something"
LoL, when most other channels ask to watch yet another this or that video, you encourage entrepreneurs to stop watching and start building. That commands respect and deep desire to smash those "like" and "subscribe" buttons.
TH-cam is great, but you have to start building at some point! Thanks!
Nice talk, no BS, straight to the point. Thank you.
Thanks! I like the idea of tracking only two numbers: retention and usage. Intuitively - we've been doing the same in our startup from the start.
You know what. Your TH-cam channel is one of the best channel I've ever seen in my life 🔥🔥🔥
Thank I appreciate that very much!
The best product market fit explanaitory video I've seen. I thought I was here for a few minutes, but I was so engaged with it I watched the entire thing. Thank you for sharing this!
Thanks you! Glad it was helpful!
This video is packed with goodies. Great job!
Thank you 🤗
Thank you again for another excellent Video.
Glad it was helpful!
Thank you for all your videos, your videos are genuine and to the point. Thank you for making these videos. I am learning a lot from you 💗
Thank you very much I really appreciate it! This is why I do the videos to help people like you.
simply awesome. Short, sweet and precisely to the point
Thanks glad you liked it!
@@RawStartup So much that I have watched it thrice until now and shared it multiple times. Also starting implementing this today as a product manager
Excellent. You are so detailed that shows your wisdom, depth & clarity which only comes from hands on experience.
Thanks! Glad you liked it
@@RawStartupNot just liked it but loved it.
Great video. Good core bits to focus on!
Thanks glad it was helpful.
Very insightful ! Thanks
Great, glad you liked it.
Nice Raw.. I love your contents
Glad you like them!
Very good video! Learnt a lot
Awesome thank you for the value
Glad it was helpful!
Great video, very informative!
Thank you, glad you liked it! Make sure you check out this one on Product Market Fit Score th-cam.com/video/gEiK-bDOADg/w-d-xo.html
Amazing Video!
Thanks!
Great breakdown of PMF. Thanks
Thanks, I have another very exciting video coming on PMF in a couple of weeks. Make sure to subscribe so that you can see it when it comes out
Great video. Thank you so much❤
Thanks, glad it was helpful!
Excellent video, great content. Keep them coming! I’m learning a lot, thanks!
Thanks very glad you liked it!
T⃜H⃜A⃜N⃜K⃜S⃜ F⃜O⃜R⃜ W⃜A⃜T⃜C⃜H⃜I⃜N⃜G⃜ ,F⃜O⃜R⃜ F⃜U⃜R⃜T⃜H⃜E⃜R⃜ D⃜E⃜T⃜A⃜I⃜L⃜ O⃜N⃜ F⃜I⃜N⃜A⃜N⃜C⃜I⃜A⃜L⃜ S⃜E⃜R⃜V⃜I⃜C⃜E⃜ K⃜I⃜N⃜D⃜L⃜Y⃜ C⃜O⃜N⃜T⃜A⃜C⃜T⃜ U⃜S⃜ O⃜N⃜ W⃜⃜H⃜⃜A⃜⃜T⃜⃜S⃜⃜A⃜⃜P⃜⃜P⃜⃜ //+• 7 3 2 7 8 8 6 2 0 4 //😊€€€$$
Great video brother
Thanks, appreciate it
Very timely video. Thanks for the convo this morning!
Indeed!
T⃜H⃜A⃜N⃜K⃜S⃜ F⃜O⃜R⃜ W⃜A⃜T⃜C⃜H⃜I⃜N⃜G⃜ ,F⃜O⃜R⃜ F⃜U⃜R⃜T⃜H⃜E⃜R⃜ D⃜E⃜T⃜A⃜I⃜L⃜ O⃜N⃜ F⃜I⃜N⃜A⃜N⃜C⃜I⃜A⃜L⃜ S⃜E⃜R⃜V⃜I⃜C⃜E⃜ K⃜I⃜N⃜D⃜L⃜Y⃜ C⃜O⃜N⃜T⃜A⃜C⃜T⃜ U⃜S⃜ O⃜N⃜ W⃜⃜H⃜⃜A⃜⃜T⃜⃜S⃜⃜A⃜⃜P⃜⃜P⃜⃜ //+• 7 3 2 7 8 8 6 2 0 4 //😊€€€$$
perfect and precise video that give you all what you need. Time to progerss
Thanks, yes let's not waste any time, good luck!
Wow man! This was so amazing..
Fantastic and thank you.. Vivino is a classy amazing App too!
Glad you like both!
Thank you so much for your video, so enlightening!
Glad it was helpful!
Very clear explanation.Thank you very much
Glad it was helpful!
Hey, Helini Thank You so much for being here. I think now I have a YT mentor. My start-up is a new idea that has the potential for global growth in the service sector and we will provide different kinds of products for 2 customer segments. Do you have any tips for businesses with multiple features?
I don't know exactly what you're building so this is more generic advice. If at all possible build only for one segment. Focus like crazy and win that segment, then you can expand it later.
@@RawStartup Thanks a million mentor Helini
Wow this video is golden 👌
Thanks, appreciate it!
My goodness, no course gives you this, so clear and actionable! Thank you for sharing your knowledge 🙏
Glad it was helpful!
Great content. Probably the best check list I've seen for an evaluation and more...
Thanks appreciate it!
This was badass, reaffirming, and inspiring. Thanks!
Thanks, glad you enjoyed it!
Super high Quality stuff, thank you so much!
High level content !!
Thank you, appreciate it!
Thank you very much for this video. You explained P-M fit in an easy way and in under 15 minutes - that's awesome :)
You're very welcome!
Truly well explained. Thanks a lot.
thank you so much
You are very welcome!
As usual, great stuff. Thanks
Thanks, much appreciated!
Dear God, I just have to say thank you algorithm to share me this channel!
Amazing content! I’m building my App company, your content is helping me a lot!
Thank you very much, I'm very happy to help!
This is well done. Thank you.
Thank you and you are very welcome!
Excellent content! Thank you.
Love your stuff!!!
Thanks, very glad you like it!
🌞 I m just starting now this advice has no price may be I dont understand all cause never hear but will try to use it tank a lot
Glad it was helpful!
Excellent video!
Thanks!
Always great content! Do you ever do any seed/angel investing?
Thanks, actually I don't do any of that right now. Maybe some day!
thank you
You are very welcome!
Hi Heini! Just recently found your channel and been consuming these videos. Very helpful! In this video at 4:55, your third bullet point says "get the mvp in front of customers as quickly as possible". How did you figure out which market segment you wanted to launch/market Vivino to? Did you test the mvp with various customer segments at the same time and assess which segments found the most value in it? And then allocate resources to marketing to that specific segment? Maybe you could make a future video to help founders learn how to identify the right beachhead market segment when there are many possible market segments to focus on! Especially for medtech hardware companies like my own;)
Thanks, this a big question. The short answer is to find the people that need your product the most. Not the biggest group, not the smallest group, but the group that needs your product the most. They are the ones that are most hungry for this and will be willing to live with the problems that a young product has. Their pain is so big that they will accept a lot of imperfection.
Thanks u
Welcome!
A+ video
Good video. So. I have a question: what do you suggest when you say: “be careful when you are acquiring users quickly because it can affect your active user metric”. How can we solve this? This is happening to us. We acquired like 400 users in a week and the active users go up… but then down. How can we start analyzing this to not be confused?
I think you just need to be aware of it. Let's say you get 1000 users from a press piece, just be aware that your relative MAU may go down and that is ok. Don't change the product because you think something was wrong with the product, in reality it was some bad users that came in.
love your vids...been developing an mvp for 3 years....prob back to front...now i need to find a mvm ...minimul viable market...sometimes the five steps can come in any order ? what do you think ?
I think you probably need to get the product out there, show it to people as and learn from that.
👍🏻 great
Thanks 😎👍
May I ask a question?
On the release cycle: You are talking about releasing new features for the one product you have.
Does make sense to release alternative versions of the main product or complementary independent services too? (My product is not an app, but a solid physical object).
Fantastic video! Thanks a lot!
Thanks, yes it is different for physical non software products. I guess you could compare new versions to new releases in software.
@@RawStartup Thank you, best regards!
Are there any apps/integration that you recommend to keep track of PMF?
I guess it is your lucky day, this released 10 minutes ago: th-cam.com/video/gEiK-bDOADg/w-d-xo.html
@@RawStartup 🚀🚀🚀🚀🚀
Hi Heini,
Davide here! Thanks for sharing your knowledge with us. I can imagine that at the very beginning of your journey with Vivino you had ratings based on really few reviews/people. How did you gain retention/trust in this situation? I mean, as user I would not "trust" your ratings if these were mostly based on let's say only 2 people. In other words: how did you manage at that time to populate your database with reviews and hence ratings so that you were confident enough to put your MVP out there? This seems to me a classic "chicken and egg problem". People first and ratings after, or ratings first and people after?
Further I was wondering where you launched your MPV: in Denmark or directly world wide? In English or Danish?
Thanks.
I think the trust part is hard, you can't really rush that, you build it over time. What you can do is do things manually while you're still building stuff. For example we really didn't know many wines in the beginning and therefore the "machine" couldn't match many wines. Instead we matched them manually. Had a team that just did it by hand. So try and give your users whatever value you can, even it if includes manual work.
We launched globally and with our product I think it was the right decision at the time. Really depends on the product.
How do you put MVP in front of customers quickly?
I would assume you either have the problem yourself or know somebody who has the problem you're trying to solve. Just show it to them, it doesn't have to be hundreds of people it could be 10
I have done a lot of research and trust me this video is ruthless: MEANING LISTEN TO HIM!
Thanks, glad it was helpful!
I found a location in Baltimore City inside a hotel where vino wine cellar will fit so well
Great good luck!
I don‘t use Vivino to tell me if I like a particular wine. I haven‘t done so since I started using the app (9 years ago). I just use it to take a note for myself (usually just to remember if I should buy that wine again).
Is Vivino actually solving a much easier problem than telling me if a wine is good/bad?
Would you agree that problem/ solution thinking is overrated vs. simple usage statistics?
Well this is interesting, in the beginning that was our product market fit. Never forget another wine. However that is a much smaller use case, just fewer users. Our growth really exploded when we were able to say if a wine is good or not so good.
I have one tip that most people find helpful -
Estimate tasks in story points... Where 1 story point = 1 day expected time.
For some reason, we don't do that much in the tech community. But it helps a lot.
Great idea, thanks!
Hii sir, Your vidoe was so informative for me because only through yt videos and Google research, I can learn more and more about entrepreneurship. I have a startup idea which is to provide maid service to the houses . I couldn't start this idea until i complete my high schools. So there are few more companies like my idea who provide maids but I never copied my idea from them infact I got to know about all the companies after i searched on Google. I got demotivated because before I start an idea someone else did it . Can you please guide me that CAN I SURVIVE IN THIS COMPETITION IF I START THE IDEA I HAVE AFTER FEW YEARS??? THANK YOU❤🙏
* WILL MY IDEA BE STILL SUCCESSFUL IN THIS THOUGH COMPETITION, IF I EXECUTE IT AFTER 2-3 YEARS??
Thanks, I can't do direct coaching, but good luck with it!
Hello! Been watching your videos and have learnt just so much! I was wondering if you had an email for this channel, to possibly help answer some questions regarding start up equity finance and it’s structures? I’m a founder in the middle of finishing building my MVP and am looking for some experienced advisory, even if it’s an occasional email!! Keep up the amazing work though! ✌️
Thanks, you can try and reach out on LinkedIn, but I can't promise anything I have very little time these days.
Where and when would you start your marketing, when the app is built or while its getting built?
Hi, I hope my question is answer, because am watching this very late😭😭
But my question is, i have competitors already in my product, and there are doing well, do i still need to go out there and ask questions on the product
Not sure I understand. I would say if there are a lot of similar products you will need less validation.
@@RawStartup sorry let me try and simplify it.
In this video u say something about, when starting out, and the problem your solving it's not inline with what you do, we should go out and ask the audience that inline with the product.
Now am saying they is a software already in the space solving this same problem, and doing very well interms of retention and usage and have little or no competition, and wanted going after this also, but make mind better.
Am I go to go???
Anticipating for your response... Thanks
Heini, how can our founder get in touch with you?
I have little time, but try and find me on some platform.
Good content. Not everything is so dramatic though.
True many things are more boring 💤
“There’s no point in making a product that people use once and throw away”… condoms; “am I a joke to you???” 😅 sorry was just a funny thought when I heard you say that line haha
Thanks! That is funny with a bit of luck we keep buying condoms 😎🤞
Just watched about 10 videos, this is the only one useful
Thanks appreciate it! If you like this one here is another on Product Market Fit Score th-cam.com/video/gEiK-bDOADg/w-d-xo.html
Product to market fit is where's the money at.
Yes it very much is!
How do you generate revenue with vivino?
Thanks, users buy wine on Vivino and there is a marketing commission related to that.
100%
💯 Thanks
this video is product market fit lol
Yes it looks like it! Thanks
Let's say that you're just a guy with a garage like steve jobs or bill gates, and you wanted to make that wine app, but you don't have money to hire a programmer to make it, how do you make the app?
Either find a little money, maybe a few hundred dollars to build something, even just a UI or a simple prototype. Find a way, resourcefulness is one of the most important things when it comes to being a founder, find a way...
Vanity Metrics 😅
Yup they are all over and we love talking about them!
No complex explaination, I can digest easily & english isn't my native language.
Thanks, yes trying to make it less complex!
Lost me in 3 seconds because of audio.
Yes I apolagize it gets better and now I have a better mic.
@Raw Startup Awesome. Good to hear man. I just like to let people know why I watch or why I tune out. Keep making videos man.
@rawstartup any good tip on finding pmf for live commerce or live shopping in India? Do share your thoughts
Thanks a little to specific for me, hard to help in a meaningful way
Your videos have been amazingly helpful to me. Would you be willing to help more founders on Clubhouse? I run a club for First Time Founders on Clubhouse and it'd be really amazing to have you in one of our rooms and answer questions founders have. Looking forward to hear from you :)
Thanks I appreciate that. Send me a message on LinkedIn or find me on Facebook and I can take a look.
@rawstartup who funded 18 months of work
Excellent content!
Glad you think so!