Rocket Fuel Ep #2: Finding Product-Market Fit with Tim Johnson from Blossom

07/31/24 • 36 min

Ever wondered how to identify when your product has truly hit the market sweet spot? In this episode of Rocket Fuel, we sit down with Tim from Blossom Social to delve into the one of the most common founder hurdles: finding product-market fit. Tim brings a wealth of experience, from his days at Wattpad to founding Couply and now leading brand partnerships at Blossom. Tim shares his insights on the signs of product-market fit, including unique user behaviours and the critical role of customer feedback. We also explore the challenges of pivoting and the importance of staying true to your vision while adapting to market needs. Discover how Blossom Social is revolutionizing the investment community by making financial education and portfolio management accessible to everyone. Tune in for an engaging discussion packed with practical advice for startup founders and entrepreneurs navigating their own journey to product-market fit. Takeaways • Product-market fit means building the right product to solve a customer's needs. • Signs of true product-market fit include users doing strange things, users getting upset about changes, and users being highly motivated to be part of the product. • Partial product-market fit is when a product solves a specific problem for users but struggles to scale effectively. • Continuous usage and momentum are crucial for achieving product-market fit. • Understanding user behavior and feedback is essential for identifying and improving product-market fit. Recognizing product-market fit is crucial for startup success. • Feedback loops and validation are essential for understanding customer needs. • Finding fellow founders to compare and be vulnerable with can provide valuable insights. • Being realistic and open to pivots is important for long-term success. • Embracing adjustments and not getting stuck on the original idea is key. Sound Bites • "People doing strange things... that is a sign of product-market fit." • "Users getting very upset around changes in the product... is an amazing sign of product-market fit." • "Investment in your product by your users is a massive sign of product-market fit." • "If you're struggling or if you don't have product market fit, everything feels like you're pushing a boulder up a hill." • "The best founders make pivots, adjustments, not just features, and they embrace it and they push through and they succeed." Chapters 00:00 - Introduction and Background 02:58 - Understanding Product-Market Fit 04:29 - Signs of Product-Market Fit: People Doing Strange Things 07:32 - The Importance of User Feedback and Debates 11:16 - Passionate Users: A Key Indicator of Product-Market Fit 15:03 - Challenges of Scaling Without Continuous Usage 16:32 - The Decision to Pivot 20:23 - The Importance of Feedback Loops 26:20 - Embracing Pivots for Success 32:42 - Building a Supportive Founder Community More About Tim Johnson Tim was an early employee at Wattpad which led to a 753M exit. He built his own app, Couply, won the largest pitch contest in the world at Collision Conference and garnered 400K downloads before Couply became a self-sustaining business. Tim is now Head of Brand Partnerships at Blossom Social – the app for investors. More About Blossom Blossom is a community of over 150,000 investors sharing their verified stock portfolios, trades, and investment ideas - helping the world make better financial decisions together. Want to Connect? Tim: https://www.linkedin.com/in/tejjohnson/ Blossom: https://www.linkedin.com/company/meetblossomsocial/ Couply: https://www.linkedin.com/company/couply/ Want to Explore More? Download Blossom: https://www.blossomsocial.ca/ Download Couply: http://www.couply.io/ Keywords product-market fit, startups, consumer apps, user behavior, user feedback, community, motivation, product-market fit, pivot, feedback loops, validation, founders, vulnerability, adjustments, realistic, openness

Previous Episode

Exploring the Future of Augmented Reality with Tahmeed Rahim from Glyph Platforms

Ever wondered how augmented reality (AR) can go beyond just digital overlays and into detailed, hyper realistic experiences?

Meet Glyph, the platform that's embedding code into the real world, transforming AR into something truly remarkable.

I sat down with Tahmeed Rahim, co-founder of Glyph, to discuss how their platform is redefining AR by allowing it to track deformation and provide realistic, interactive experiences.

Tahmeed shares his journey from engineering at the University of Toronto to founding Glyph, highlighting how their technology enables precise AR overlays on complex surfaces like textiles and interiors. With applications ranging from interior design to robotics, Glyph is set to revolutionize how we interact with digital and physical worlds.

Discover how Glyph's innovative approach is paving the way for the future of AR, making it more accessible and effective for businesses and consumers alike.

Takeaways

Tahmeed's background in engineering and robotics automation led him to start Glyph
Being a startup founder allows Tahmeed to actively contribute to the future of technology
Tahmeed emphasizes the importance of being a versatile founder and being involved in all aspects of the business
Glyph is a platform that embeds code into the real world and uses deformation tracking to map AR content to malleable surfaces
It provides a higher level of realism compared to standard AR overlays, making it suitable for accurate product visualization.
Users can place proprietary fabric samples on objects and use an application to see detailed options and textures.
Glyph's target audience includes designers, sales teams, and marketing agencies.

Chapters

00:00- Introduction and Background

04:11 - The Start of Glyph

07:00 - Being a Versatile Founder

10:08 - The Inspiration Behind the Name Glyph

19:01 - Advanced Realism and Product Communication

21:29 - Bringing the Showroom Experience Home

25:46 - Enhancing Product Visualization

29:14 - Becoming a Tool in Other People's Toolkits

35:04 - Memorable Moments and Future Milestones

About Tahmeed

Tahmeed Rahim is the founder and CEO of Glyph Platforms, a startup focused on next gen spatial computing. An engineering graduate from University of Toronto, Tahmeed started his career as the first engineering hire at a biomedical company focused on personalized medicine, overseeing the development of automation systems for vision based assay analysis. With over 4 years of experience in building vision based systems, Tahmeed founded Dawn Robotics with the intention to apply the novel spatial computing system called "Glyph" in the field of robotics. Dawn Robotics eventually became Glyph Platforms as the applications of Glyph reached further than just robotics and into the field of Augmented Reality!

About Glyph Platforms

Glyph Platforms develops next gen spatial computing for applications in augmented reality in the trillion dollar textile industry. Glyph works with some of the largest textile companies in the world to reduce waste, costs and time loss associated with physical sampling, via digitizing and showcasing their products using AR. We have big plans next year to release our hyper-realistic spatial computing markers called "Glyphs" to the public and let the AR community bring out the true potential of this new medium. By making computer vision accessible and easy to implement, Glyph Platforms aims to democratize the creation of AR experiences and drive the future of ambient computing.

Want to Connect?

Tahmeed: https://www.linkedin.com/in/tahmeed-u-rahim/

Glyph Platforms: https://www.linkedin.com/company/glyphplatforms/

Website: https://www.glyphplatforms.com/

Interested in Learning More?

"Connect with me directly via Twitter/X or LinkedIn, learn more about us via Twitter, LinkedIn or visit our website Glyph Platforms'

Next Episode

Building a Marketplace for Renting Commercial Spaces with Alex Hines from Quikspace

Have you Ever Wondered: "What if there was an Airbnb for Commercial Spaces?"

Meet Alex, the founder of Quikspace, as he shares his journey as an entrepreneur and the inspiration behind his marketplace for commercial space.

In this episode of Founder Stories, we chat with Alex Hines who discusses his previous successes and failures, from building a clothing brand and a design agency that led to him starting his current endeavour, Quikspace.

Quickspace aims to solve the problem of underutilized commercial space by connecting space owners with people who need short-term space.

He discusses the current state of the platform, its business model, and its plans for growth. Alex also highlights the importance of sales and distribution in the success of a startup and the potential for AI to disrupt the commercial real estate industry.

Tune in to hear how Quikspace is paving the way for the future of commercial space rentals and why you should keep an eye on their rapid growth and resilience in the face of challenges.

Keywords

entrepreneurship, commercial space, marketplace, short-term rentals, customer acquisition, AI, predictive analytics, teamwork, perseverance

Takeaways

Selling and distribution are crucial for the success of a business.
Quikspace connects businesses in need of short-term space with space owners who have underutilized or vacant space.
Customer acquisition is a key focus for Quikspace growth.
AI can play a role in predictive analytics and matching users with the right properties.
Teamwork and perseverance are essential for founders.

Sound Bites

"I think my biggest learning curve right now is my ability to sell needs to improve."
"How do you actually get to the customers you need? So I think that's where that money would go."
"You gotta keep going, man. The grit and the perseverance is the biggest key to success."

Chapters

00:00 - Introduction to Quick Space and Alex's Background

08:15 - The Inspiration behind Quick Space

19:12 - Targeting Underutilized Commercial Spaces

26:42 - Working with a Talented Team

29:56 - The Importance of Sales and Distribution

32:37 - The Potential of AI in Commercial Real Estate

36:17 - Advice for Entrepreneurs and Conclusion

About Alex

I'm Alex Hines, a product designer by day and a serial entrepreneur by night currently building a markplace called Quikspace. I've had my share of wins and losses, founding and scaling a design agency, a clothing brand, a non-profit, and a cannabis retailer over the years among others that never got any traction. Each venture, whether a hit or a miss, has been a thrilling journey, teaching me invaluable lessons about growing businesses and understanding customer needs. Here's to embracing the ups and downs of entrepreneurship!

About Quikspace

Quikspace is a marketplace platform designed to bridge the gap between flexible workspace needs and property utilization. Our mission is to empower "hometrepreneurs" and small business owners by offering access to under-utilized and vacant commercial spaces on flexible terms. This provides a solution for businesses outgrowing their home workspace and generates income for leaseholders and property owners during their search for long-term tenants. By leveraging real-time availability, seamless booking processes, and integrated payment systems, Quikspace transforms vacant spaces into vibrant, productive hubs, fostering a community of dynamic businesses and driving economic growth.

Want to Connect?

Alex: https://www.linkedin.com/in/alexanderhines/

Quikspace: https://www.linkedin.com/company/quikspace/

Want to Learn More?

Check out Quikspace today! - Website: https://www.getquikspace.com/