The Case for Sharing Your Work in Public: A Path to Product/Market Fit

Kazuki

Hatched by Kazuki

Jul 29, 2023

5 min read

0

The Case for Sharing Your Work in Public: A Path to Product/Market Fit

In today's digital age, it has become easier than ever to share our thoughts, ideas, and creations with the world. The question is, should we? Some studies suggest that keeping our intentions private can actually increase our likelihood of accomplishing our goals. The reasoning behind this is that when we share our goals with others, we receive premature praise, which gives us a sense of satisfaction without actually doing the work. However, other studies show that sharing our progress can be incredibly beneficial.

For example, sharing your weight loss progress on Twitter can be a great way to stay motivated. When you publicly declare your goals and share your progress, you hold yourself accountable to a larger audience. This can provide the extra push you need to keep going, even when things get tough. As Austin Kleon, author of "Show Your Work," suggests, we should become documentarians of our own work. By sharing what we do, we are able to reflect on our progress and plan our next steps.

Moreover, sharing our work in public allows us to take a more iterative approach. By putting our work out there, we can gather feedback from others and make necessary adjustments. This ensures that what we're working on truly answers the needs we have identified. Great ideas often stem from a network of information within a transparent community. When we share our ideas, we increase the likelihood of connecting the dots between our own ideas and those of others. This can lead to valuable insights and new perspectives that can further enhance our work.

Additionally, sharing our work in public is an excellent way to connect with like-minded individuals. By putting our work out there, we attract people who are interested in the same space. This can result in finding mentors, collaborators, or even potential business partnerships. Working on an idea in a vacuum can stifle the creative process, but sharing it with others opens up a world of possibilities.

Now, you might be thinking that sharing your work in public sounds intimidating or uncomfortable. And you're not alone in feeling that way. Many people initially find it challenging to share their work regularly. However, once you get into the habit, it becomes easier over time. Just like any skill, practice makes perfect. It's important to find the people who care about what you're doing and connect with them. This can be done by joining online groups or attending offline meetups related to your field of interest. Building a supportive community around your work can make the process much more enjoyable.

That being said, it's crucial to remember that sharing your work in public should not become a distraction from actually doing the work. It should be done in a way that fits within your workflow and enhances your productivity and creativity. Done properly, sharing your work can be a powerful tool for growth and improvement.

Now, let's shift our focus to achieving Product/Market fit, a goal that every startup strives for. The PMF (Product/Market fit) framework provides a clear roadmap to determine whether you have achieved this fit or not. According to the framework, if 40% or more of your customers say they would be very disappointed without your product, you have successfully achieved Product/Market fit. This indicates that your value proposition resonates with your target market.

However, many startups fail to achieve Product/Market fit due to various reasons. One common mistake is failing to validate the market need in the first place. It's crucial to talk to customers and understand their pain points before diving into product development. Another pitfall is solely focusing on the product itself and neglecting to test different distribution channels early and often. Shipping features without making real progress can also hinder the path to Product/Market fit.

To avoid these pitfalls, it's essential to adopt a learning mindset. The goal should be to learn from your customers, not just to sell to them. When conducting customer interviews, it's important to listen more than you talk. Ask "why" to understand the real motivations behind their actions. Seek facts, not just opinions, and avoid mentioning solutions too early in the conversation.

To gauge your customer's behavior and measure your progress towards Product/Market fit, the Pirate Metrics (AARRR) framework can be incredibly useful. This framework, created by 500 Startups' Dave McClure, breaks down the customer journey into five key stages: Acquisition, Activation, Retention, Revenue, and Referral. Retention is particularly important, with a 40-20-10 retention rate (D1: 40%, D7: 20%, and D30: 10%) considered good. However, it's important to note that what constitutes "good" depends on your specific product category.

Another metric to consider is stickiness, which measures user engagement. It is calculated by dividing the number of Daily Active Users (DAU) by the number of Monthly Active Users (MAU). A ratio of 10-20% is typically considered good, with over 20% being excellent and 50%+ being world-class. Additionally, a good growth rate during the early stages of a startup, such as during Y Combinator, is around 5-7% per week. If you can achieve a growth rate of 10% per week, you are doing exceptionally well.

In conclusion, sharing your work in public and achieving Product/Market fit are two vital components of success in today's fast-paced world. By sharing your work, you can gain valuable feedback, make connections, and enhance your creative process. Meanwhile, focusing on Product/Market fit ensures that your value proposition resonates with your target market. Remember to find a balance between sharing and doing the actual work, as both are essential for growth.

Actionable Advice:

  • 1. Start sharing your work in public, even if it feels uncomfortable at first. The more you do it, the easier it will become.
  • 2. Seek out communities and groups of individuals who are interested in your field. Connect with them, learn from them, and build a supportive network.
  • 3. Prioritize customer validation and feedback when working towards Product/Market fit. Listen more than you talk, ask "why," and focus on learning rather than selling.

By incorporating these practices into your workflow, you can unlock new opportunities for growth, creativity, and success.

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