1. THE PROBLEM WITH
PRODUCT MARKET FIT
(AND WHAT TO USE
INSTEAD)
WEBINAR EXCLUSIVE
WITH DANIEL ELIZALDE - PRODUCT EXECUTIVE AND
ADVISOR
MODERATOR:
RAYVONNE CARTER
WEBINAR PRODUCTION MANAGER
PRODUCT MANAGEMENT TODAY
MAY 9, 2023
12:30 PM PT,
3:30 PM ET,
8:30 PM GMT

2. Introducing Logi Symphony from insightsoftware: the flexible, purpose-built BI and analytics platform for embedding into
other applications. insightsoftware is a global provider of reporting, analytics, and performance management solutions. Their
best-in-class solutions enable businesses to connect to and make sense of their data, and empower software teams with the
most intuitive, developer-grade embedded analytics. Over 32,000 organizations rely on insightsoftware for accounting,
finance, embedded analytics, operations, supply chain, tax, budgeting, planning, HR, and disclosure management; and
developers use Logi Symphony to deploy custom embedded dashboards, reports, scorecards, self-service, analytics, and
more into other web-based applications.
03
Shrink Planning, Reporting, and
Close Cycles by 50% !

3. Have questions about todays
presentation?
Click on the Questions panel to
interact with the presenters
Having issues with todays
presentation? Try Dialing in!
TO USE YOUR TELEPHONE:
You must select "Use Telephone" after joining
and call in using the numbers below.
United States: +1 (562) 247-8422
Access Code: 411-335-313
Audio PIN: Shown after joining the webinar

4. THE PROBLEM WITH
PRODUCT MARKET FIT
(AND WHAT TO USE
INSTEAD)
WEBINAR EXCLUSIVE
WITH DANIEL ELIZALDE - PRODUCT EXECUTIVE AND
ADVISOR

5. Hi, I’m Daniel Elizalde!
• Product Executive & Advisor – B2B SaaS & IoT
• Startup mentor
• Bestselling author: The B2B Innovator’s Map
• Former VP, Head of IoT at Ericsson
• Former Head of Products at Stem (AI-powered
energy storage)
• IoT PM Instructor at Stanford University
Continuing Studies
• Trained over 1,500 product professionals

6. danielelizalde.com
What is
Product Market Fit (PMF)?

7. PMF is:
• Abstract
• Not measurable

8. danielelizalde.com
Instead of PMF, you need
a structured and measurable approach
to innovation.

9. danielelizalde.com
PMF was intended as an investment marker

10. danielelizalde.com
But investment is a continuum…

11. danielelizalde.com
Your first critical milestone is
delivering value to your first ten
customers.

12. danielelizalde.com
The B2B Innovator’s Map
The journey from idea to your first ten customers

13. danielelizalde.com
The B2B Innovator’s Map
Iteratively design, test
& build your solution
Understand your
customer’s problem

14. danielelizalde.com
Strategic Alignment stage

15. danielelizalde.com
Articulating the problem you plan to solve
• “We help companies save money on their electricity bill”
• ”We help utilities meet demand via DER aggregation”
• ”We help buildings become more resilient”

16. danielelizalde.com
Describe the problem you
are solving.

17. danielelizalde.com
Market Discovery stage

18. danielelizalde.com
Who (specifically) has the
problem you are working to
solve?

19. danielelizalde.com
Components of a target market
• Industry
• Company size
• Geography
• Champion role (person responsible for delivering the business
outcome)
• Use case

20. danielelizalde.com
Example: Energy storage company
Problem to explore: “We help buildings become
more resilient”
Target market:
• Industry: Commercial Real Estate - Focus on office
buildings with 2-20 floors
• Company size: $1B+
• Geography: United States
• Champion’s role: Director of Operations
• Use case: Backup power

21. danielelizalde.com
What is the pain of your target
customer?

22. danielelizalde.com
Understanding the pain of your customer
• Industry: Commercial Real Estate - Focus
on office buildings with 2-20 floors
• Company size: $1B+
• Geography: United States
• Champion role: Director of Operations
• Use case: Backup power
Why is this a problem?

23. danielelizalde.com
There is no magic formula for
figuring out your customer’s pain.
The only way to discover their
pain is to talk to them.

24. danielelizalde.com
User Discovery stage

25. danielelizalde.com
To find the most profitable
opportunities, you need to
understand the needs of ALL users.

26. danielelizalde.com
Discovering your User Ecosystem
1. External / Customers
2. Internal
3. Partners and vendors
4. Compliance
1. Evaluation and Purchase
2. Installation
3. Deployment
4. Onboarding
5. Operations
6. Maintenance
7. Decommissioning
Four types of users
Across the 7 stages of the
Enterprise Customer Lifecycle

27. danielelizalde.com
Solution Planning stage

28. danielelizalde.com
Create an experiment roadmap
From the B2B Innovator’s Map:
“An experiment roadmap is simply the prioritized list of assumptions
(and their corresponding experiments) you plan to test with your target
market to reduce the risk of building the wrong product.”
Assumption
Importance (low,
medium, high)
Amount of
evidence (low,
medium, high)
Experiment Testing for (D, F, V) Success criteria
We believe…

29. danielelizalde.com
Prototyping stage

30. danielelizalde.com
Your goal during the Prototyping stage
Desirability
Feasibility
Viability
Does the market
want your product?
Can you build, operate,
and maintain the
product?
Can your product be
profitable?

31. danielelizalde.com
Prototype fidelity
Clickthrough prototypes
Working software
Evidence
Less evidence:
Mockups
More evidence:
Product development

32. danielelizalde.com
Early Adopter stage

33. danielelizalde.com
Early adopters are for learning.

34. danielelizalde.com
Pro tip:
Instrument your product early on to
leverage user analytics.
(Actions speak louder than words)

35. danielelizalde.com
In summary: Avoid PFM and use these
concrete milestones instead

36. MODERATOR:
RAYVONNE CARTER
WEBINAR PRODUCTION MANAGER
Q&A
Product Executive and Advisor
Daniel Elizalde
/in/danielelizalde/
danielelizalde.co
m
/in/rayvonnecarter/