Liane Allen

Building Analyst and Web Geek

8

1

Firestarter - Teaching Assistants Group

  1. What surveys should Firestarter run to their early users? What questions should they be asking in this survey?


- Survey the startups:

- What did the 8 successful ones do? What did the others do? Commonalities among the 8?

- Was the experience good?

- Survey the funders.

- How did they find the initial 10?

- What about the people they didn't select?

- What do you want to get out of this?

- Talk to really passionate users who love it and find out why




- All

- What attracted you to the platform.

- How likely would you be to recommend firestarter to a colleague?

- Why did you choose this platform instead of another?

- What would bring you back?

- How much would you miss it if it were gone?

- Net Promoter Score

Other things we want to find out:

- Net Promoter Score

- Are people from the same niche?





2. What are the metrics they should track to determine if they have product/market fit?

- Customer activation

- number of donors

- number of recipients

- Retention

- updates by recipients

- responses to updates & requests for help by donors,

- backs multiple products,

- sharing of links

-  returning to the site


Too early to really test retention?

- A month after launch, don't know if a startup is successful or not. So early after funding, maybe activation is the factor they need to focus on?



What are the vanity metrics they should avoid?
- pageviews, signups, etc.


3. How will Firestarter know when they’ve hit Product-Market fit?
- If people are getting others involved and growing a community.
- If the majority of the projects get funded through social sharing.
said another way, if projects get funded without them doing any legwork.
- If people choose it over other platforms

- 5% /week growth. People are choosing it over other platforms.
- 40% would really miss it, lots of REALLY passionate fans.
- It's growing because x, y, z: knowing WHY it's growing.
- If there are people clamoring to be on the platform (wait list).

- If they're delivering on their mission.

helpful: know why it grows and how can you answer the question to grow faster
knowing who the users are

What should Firestarter do next within the next month to get there?
- Get to know the passionate users and find out what motivates them.
- What do the investors get in return for giving money? Focus on figuring that out, because it may help with retention and activation. For example, maybe the kind of project needs to change (say, instead of funding “a startup” maybe there would be more engagement if people were asked to fund a specific 90 day milestone). Another example, Quirky gives min. money to community members who name the product, but then the investors’ names appear on the retail packaging if a product succeeds.

4. (Optional) Is the market big enough? If so, how can Firestarter be differentiated in the marketplace?
- How many startups are there?
- How many investors seeking to do seed funding are there?
- How many businesses seek but don't get funding?
- [more thought needed]

Comments

Please sign in or sign up to comment.