Rodolphe Barrere, co-founder of market research platform PotLoc, explains his definition and benchmark for determining whether a startup has achieved true product-market fit.
“To me, when the phone rings, With people placing an order without you outbounding to them it is when you have product market fit.”
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More from Rodolphe Barrere
Insight
Selling demographic surveys to municipalities means zero repeat business for years
“I mean, we have our urban planning is made on a period of like five to 10 years. They needed input when they were working on the B five, 10 years plan, et cetera. They had these inputs, so they had no need for any extra survey work and they had limited budget …”
Rodolphe BarrereJul 31, 2023▶ 26:18Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
Disclosure
PotLoc raised a $20 million Series A led by Brightspark
“I raised in July, Led by Brightspark. I think I might have pitched Mistral. We did, but don't remind me. Don't remind me. In 2019, twenty million series. Well, it was two trenches, whatever, but twenty million series. Led by Brightspark”
Rodolphe BarrereJul 31, 2023▶ 33:51Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
AssertionContradicted
PotLoc hit 100,000 platform users within six months of launch
“We had, like, a 100,000 users on the platform after six months.”
Rodolphe BarrereJul 31, 2023▶ 10:49Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
AssertionNot checkable as stated
PotLoc generated $400,000 at 95% gross margin with just two founders
“So in 2016, we are, just my co-founder and I, and we are generating 400 K, ok? 95% gross margin.”
Rodolphe BarrereJul 31, 2023▶ 21:52Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
AssertionNot checkable as stated
Facebook ads yielded 10x more survey respondents than physical mall intercepts
“We're able to survey like a hundred people versus on Facebook we're able to get a thousand people within the same day. Like it was crazy, crazily less efficient, but still, we're still doing that.”
Rodolphe BarrereJul 31, 2023▶ 29:48Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
Disclosure
PotLoc entered COVID-19 with $17 million cash burning $300K monthly
“So I was sitting on like, seventeen million of available cash burning like, 300 per month, K per month.”
Rodolphe BarrereJul 31, 2023▶ 36:22Rodolphe Barrere, Founder of PotLoc | How to Find Product Market Fit · PMF Show
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