This podcast episode discussed the interview from Lenny's Podcast featuring a conversation with Todd Jackson, a partner at First Round Capital. Jackson, who has a deep background in product development, discusses a framework that he and his team have developed to help B2B founders find product-market fit. The framework outlines four distinct levels of product-market fit—nascent, developing, strong, and extreme—and the characteristics that define each level. Jackson also explores the three key dimensions of product-market fit—demand, satisfaction, and efficiency—and emphasizes the importance of understanding the trade-offs between these factors at each stage. Furthermore, he introduces the concept of the "four Ps"—persona, problem, promise, and product—and explains how adjusting any of these elements can help founders overcome challenges and progress towards greater product-market fit. Finally, Jackson shares valuable tips on conducting customer discovery and identifying extreme value for potential customers.
