Lenny Rachitsky: belief

Transcript context

…Yeah. So when you are an early stage company, the worst thing you can do is try to be everything to everyone because you don't have enough runway. You just don't have enough of anything to do that successfully. The best thing you can do is find an audience that is big enough, that if you got your significant market share among that audience, you'd be a giant business. And tech savvy dads is a pretty big audience. Also that's just who your outbound going to try to acquire for the next 18 months. I'm a tech savvy mom. I live with a tech savvy dad. I have an Eero system. It doesn't mean everyone you'll ever acquire must be in that audience, it means that is who we're focused on acquiring. Awesome. I took us off course around the positioning process. I think we kind of went off course with concentric circles model. So I'll give it back to you to keep going. Yeah. Okay. So the way that I like to run positioning exercise is to start with who is this for? And then what is the problem that they have? There's some problem usually that these people have, they may not even be aware it's a problem, or they may not be experiencing the problem as particularly troubling, but there's something going on for these people. And then how do they address that problem today? So they do something, they're buying something, they're have a workaround, they're doing something today. And that something might not be another startup or your direct competitor. It might be the old way of doing things, but they're doing something. So we go through who is it for? What's their problem? How do they address it? And then what do you make? How does it work? And what would you want a user of your product or service to tell another? And that's kind of if you answer all of those questions, it ultimately leads into this classic four statement, which is not something I invented, it's something that's been around for 40 or 50 years. And I learned it when I was 22. And I think it's one of the most powerful tools in marketing. It can feel like mad libs if you just approach it cold. But if you've gone through that work of defining who is it and what's their problem, all it is a distillation of that. So that statement is for target audience who there's a statement of need or opportunity. And then you say our product name is a category that has a benefit, unlike the old thing they were doing, our product works this other way.…

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