Evidence receipt / evaluation
Published · transcript-backedElena Verna: evaluation
23 Jun 2022 Lenny's Podcast Elena Verna on how B2B growth is changing, product-led growth, product-led sales, why you should go freemium not trial, what features to make free, and much more
“What does it mean to have strong product market fit is that you, A, have retention, obviously. So it takes some time to actually measure retention, and I would say at least six months to almost a year post the initial offering, that's when you truly know whether customers are retaining with you, and number two, that you actually have some ability to acquire and monetize your customers potentially from the beginning.”
Source trail
Everything needed to verify it.
- Speaker
- Elena Verna
- Attribution
- Verified speaker
- Claim type
- evaluation
- Recorded
- 23 Jun 2022
- Publisher
- Lenny's Podcast
Transcript context
…When would you say is the right time for a startup to bring in a full-time growth person? So growth can only be discussed if you have a strong product market fit. What does it mean to have strong product market fit is that you, A, have retention, obviously. So it takes some time to actually measure retention, and I would say at least six months to almost a year post the initial offering, that's when you truly know whether customers are retaining with you, and number two, that you actually have some ability to acquire and monetize your customers potentially from the beginning. So there's some green shoots in your ability to drive distribution of your product. Growth will come in and they will help build it out and scale it and innovate on your growth model, but to hire a growth person to figure out your growth model from the beginning, I think that's a mistake and it's a delegation. It's like hiring a product person and saying, "I don't know what I want to build. Go build it for me, but I want to have a successful company." You'd never do that. You would create the first product market fit yourself as a founding team. So as a founding team, you have to create first growth model. Otherwise, it's delegating one of the most important portions of the business that if you are not involved in it and then you're not driving the first iteration of it yourself, I think you're setting yourself for failure. Almost success.…
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