"Your customers pay you more than you spend to acquire new customers."

"The 40% rule"

"A simple yet effective way to measure Product/Market fit (Value proposition) is PMF survey, popularized by Sean Ellis who led the early growth at Dropbox, Eventbrite, LogMeIn and Lookout."

"How would you feel if you could no longer use the product?"

"The top reasons startups fail to achieve Product/Market fit: They don’t validate the market need in the first place They don’t talk to customers They focus solely on Product, not testing Channels early and often They mistake “shipping features” for “making progress”"

"“PMF” framework: 5 steps to Product/Market fit"

"Step 1: Business Modeling"

"Step 2: Market Validation"

"A “market-first” approach is crucially important to maximize your chances of success, avoiding the common mistakes startups make."

"Do they really care about the problem you’re trying to solve? Can you actually reach potential customers cost-effectively? Are they genuinely willing to pay for your product?"

"Too many startups skip this step and start building a product prematurely just to realize that there is “no market need” (the 1 reason why startups fail)."

"Step 3: Customer Interviews"

"Step 4: Product Development & Customer Acquisition"

"Step 5: Product Analytics"

"Think of your product as a leaky bucket. The AARRR framework reveals the holes worth plugging, where people are dropping off during the journey to become your loyal customers."

"Retention"

"Generally speaking, a 40–20–10 retention (D1: 40%, D7: 20% and D30: 10%) is considered good."

"To prove you’re getting good traction, set your goal at 5–7% a week or 15–20% a month."

"Back to Step 3: Customer Interviews"

"Back to Step 4: Product Development & Customer Acquisition"

"Back to Step 5: Product Analytics"

"Repeat Step 3–5 until you hit the 40% threshold"