Finding product-market fit and attracting early customers, which are key indicators of traction for a startup. Watch the full video — free, no account needed.
Finding product-market fit and attracting early customers, which are key indicators of traction for a startup. The speaker discusses how early customer adoption and growth led to a significant acquisition offer.
I think that that's like a hugely valuable thing for all founders to understand. Um I'll fast forward a bit. We started signing, you know, customers, um you know, pretty expeditiously. Uh we started working with, you know, a few major law firms. Um and you know, I think I think when you're doing those early days of kind of iterating product with, you know, your early customers, um you have to think about what ultimately is going to be, you know, the the product that has product market fit. And um and then you have to just double down and triple down on that product over and over and over again. And of course, you can outgrow into into other sorts of areas as well. But, you know, early on we uh we had a few kind of early design partners, major law firms in the transactional space, which really give us a ton of feedback on how this data set could be hugely valuable to their uh to their
practices. And seeing the early traction on some of those design partnerships really gave us a ton of confidence that we were on the right track, and then doubling in all out of the product market fit we saw. Um Later in 2023, um you know, after many of these firms were starting to talk about our data sets, you know, we immediately started to understand that this was upending transactions. Like literally, I would get calls from, you know, major law firm partners, top 10 firm partners in the world, saying, "We utilize the system and the transaction was completely changed as a result." Uh