Don't Make The Mistake of Forgetting What Phase of Growth You're In - (Ep. 0034) from The Nomics Update

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Clay Collins

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Don't Make The Mistake of Forgetting What Phase of Growth You're In - (Ep. 0034)

10 minutes Posted Jan 23, 2019 at 3:04 pm.

] experience I've had around product feedback, is that it is almost always the case that when there is a true market need, that when the market hungry for something, that the feedback you get is kind of hard to read.

] for what their needs were, what their hopes and fears were with regards to a specific market, and got back hundreds of responses to a survey where I was soliciting feedback, hoping we could build something that would get product market fit. And I really had to kind of get a beer and just kind of sit back on an easy chair and process everything that came in, because it was overwhelming. [00:01:30] There was so much need in this market that a lot of the asks included stores that were kind of sad, or they were from people that were just feeling completely overwhelmed. The responses were from people that just expressed so much need, and in a lot of cases were asking for things to be built that were just impossible to be built, and [00:02:00] it was a lot to process.

] the feedback you get when you're asking for such feedback is people asking for something to be built that is just like, "Hey, can you build this thing that someone else has built, or something like this, but better?" Or they'll just speak to some outcome they're looking for, like they want to make more money, or they want six pack abs, or kind of the product ... The consumer product categories tend to be ... I put them into three buckets. Getting [00:03:00] paid, getting laid, and not dying, right?

] or these categories are jokes. But that's around health, fitness, longevity. Things like that. And people just ... they just know the outcomes that they want. They will hardly ever speak to specific features. They will hardly ever just give you something on a silver platter that you can just take in and then directly turn into features. [00:04:00] That's pretty rare.

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Hey, it's me. Hope you're having a fantastic day, wherever you are. Or night, depending upon what part of the world you're in. So I wanted to share some thoughts about the product journey, buildings product, et cetera. I've had a lot of different kinds of experiences getting product feedback, it's really been all over the map. But the one consistent thing, the one consistent [

I remember, back in the day, I was considering making a product, and I sent out a survey asking people [

And I think in general, as product creators, we often think we want this feedback from the market, and then we get it, and it's kind of hard to deal with. The truth is that most people don't know what they want to see built, right? They only know their problems and they know what other people have built, so often [

So getting paid, that's around finance, personal finance, savings, career progression. The getting laid category ... I say that facetiously, but that's personal relationships, sex, love, fulfillment. Things like that. And then not dying ... Again, this is all mostly a joke, but ... [

And then in more enterprise or B2B niches, I think in order to get the kind of feedback you really need, you kind of — in my experience at least — you have to build something for the market to respond to, right? So I think about these three phases of growth, and they are, when it comes to the product, and it is build, iterate [

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