I've often faced a critical question when searching for product-market fit (PMF): Should I concentrate on a specific market segment and funnel, or should I test various channels and funnels simultaneously? Through my experiences, I've learned that the answer is clear: focus, focus, focus!
🤔 The Dilemma I Encountered Throughout My Journey in Product Management
I grappled with limited resources and traffic, making it challenging to test all hypotheses at once. The uncertainty I experienced led me to crave more data to make well-informed decisions.
Although exploring different options seemed like a natural solution, I discovered that the most efficient strategy was to focus on a single funnel and tailor it to perfection.
🎯 4 Lessons I Learned on Why Focusing Wins
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Attention to Detail: By concentrating on one funnel, I could dive deeper into analytics, actively listen to sales calls, and better engage with customers and my team. I realized that finding PMF was crucial and needed to be prioritized over other tasks.
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Team Unity: Adopting a focused approach ensured that everyone on my team worked towards the same goal. In the past, when we tried testing multiple channels and acquisition funnels simultaneously, we often neglected details, and our creativity suffered as we fell into a support role mindset.
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Time Efficiency: Initially, I believed that testing multiple channels and acquisition funnels would be faster. However, I quickly discovered that synchronization, communication, and cross-prioritization costs slowed down the process. It proved more efficient to test different funnels sequentially.
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Persistence and Iteration: The main reason for failure is often a lack of effort and stopping prematurely, not an absence of PMF. There are many reasons why you can fail in your first attempts, as you never know the right solution. You need to spend time and iterate a lot.
During this iteration process, I experienced many instances where tailoring the funnel led to another funnel. But it was an organic change based on real data, not just another hypothesis "I heard that it works."
🚀 When Unfocusing May Be Appropriate
I found that the only time to consider an unfocused approach was when my company had already achieved PMF and was in the scaling phase. With a dedicated team to expand the existing PMF while exploring new channels or tailoring the product for a new customer segment, an unfocused strategy was worth considering.
💡 My Takeaway Throughout My Journey
I learned that focus was the key to success when finding PMF. It's better to channel the entire company's efforts into perfecting one funnel. Leave the unfocused approach to the experts who have already mastered the art of scaling multiple channels simultaneously.
To all the product managers out there searching for that elusive product-market fit, remember to keep your eyes on the prize and focus on what matters most!
I would be happy to discuss your experience in the comments.
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