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It’s Not First To Market, It’s First To Product Market Fit

It’s no longer about being first to market. You only need to look at Friendster and Facebook to see the evidence of that. Today it’s about startups getting to product market fit first and by doing it lean. Recently I had the privilege to keynote in front of 500 senior executives at IBM’s A/NZ Smarter Selling Academy I dived into this topic by sharing how we did it at Bugwolf. I want to share some of my comments from that talk, and a few other thoughts I’ve had since then.
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Fragmented Platforms

When I started Bugwolf I was frustrated by the quality of products which were being released. I also knew first hand how difficult and time consuming and frustrating it can be thoroughly test digital products. The market is fragmented especially when you’re talking the Android platform. The environment is becoming even more challenging with the obsession to connect everything to the internet and how the cloud accelerates everything including competition.

We originally went out to market focused on security testing as a crowdsourced model until one day a client asked if we could apply the same Bugwolf model to usability and functional testing. We also discovered that even though the concept of crowdsourcing was a positive one when engaging clients, many of the large enterprises found it difficult to get the concept past security due to concerns of having unknowns accessing their assets.

Adapt Quickly

By working closely with customers and understanding these challenges early in the lifecycle of the company, we were able to change our service, product, and the way we communicate with clients. The more clients we met the more objections we were able to overcome until we got to a point where we no longer hear a no from customers. We also discovered we were solving so many other problems which we didn’t even know existed until engaging clients.

Once we got to product market fit our business has gone from strength to strength. We have secured a number of global brands who have become repeat customers. We have been able to deliver significant value to these customers. We are expanding our team to manage this growth and have made some significant hires in the last few months to support the success to come. We are now focused on scaling the business, and as always on our customers.

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