Congratulations! You’ve made it all the way to Milestone Three of our Market Acceleration Program – Market Results. This final section is all about how to manage your functional learning organization at all stages of your pipeline.
The Market Results phase is the pivotal moment in the program where you’ll stop hypothesizing and start executing, tracking and iterating.
Your goals in Market Results are to:
As you move from building hypotheses to testing them you are going to learn a lot from the market that will challenge your original lines of thinking. As Mike Tyson once put it, “everybody has a plan until they get punched in the face.”
In Market Results, we are going to show you how to iterate your go-to-market plan based on market data while keeping your startup on a steady and determined course towards product- market fit.
Founders often don’t properly plan for how long finding product-market fit is going to take. Feedback is a gift. But it’s is not a license to drastically change or wholesale dismantle the fundamental assumptions you built in the first two milestones of #gxmxp.
As we discussed very early in the #gxmxp series, one of the classic downfalls of startups is lack of traction through distraction. Market Results is where we teach you the fundamentals behaviors of what we call a Functional Learning Organization.
During this phase, you’ll take real-world feedback and implement it in your go-to-market strategy as well as your product strategy. You’ll also learn how to use this feedback post-sale, which is something many companies don’t do.
You need to focus not only on bringing in new business, but keeping customers once you have them.
During Market Results, you’ll learn how to:
✓ There is no microwavable version of Market Results. This process takes longer and requires more effort than you think. Oftentimes when we get to this section, people ask us if we have any “hacks” for doing this better or faster. The fact of the matter is, this is the hack. The old way was the long way and this is the shortcut. But it still requires persistent time, energy and thoughtful effort. This is an entire framework that will stand you up for success. You have to follow the system and put in the work. Be hyperconscious of what’s working and what’s not and set aside your ego so you can iterate quickly and get to the truth faster.
✓ Stay organized. Write everything down. All too often we see founding teams get off of a call with a customer that created some great “ah-ha” moments and healthy debate. Only for those learnings to be lost as soon as everyone goes to lunch. All of the documents we’ve created in the past and will create throughout this phase are for you to use continuously. They’re now going from draft mode to live mode. You should always have them in front of your team so you can review and iterate on them regularly.
✓ Persistence pays off. Consistent effort and persistence is the key to all of this. Whether you’re writing emails to someone for the 12th time with no response or doing your week-30 pipeline review, persistence and effort are the two main ingredients that make this work.
At the end of the day, the heart of your effort should be that you’re trying to help people. If you consistently work towards that, you’re going to get to the truth.
You know you’re doing things right in this section when you start getting impatient because deals are stalling (but you’re still seeing activity in your pipeline). Stay the course. Resist the urge to have knee jerk reactions and over-pivot. Trust the process.
Now’s the time to go back and review everything we’ve worked on together throughout the #gxmxp Series.
Make sure your people, processes and systems are ready, your ICP is crisp, your market milestone is realistic, and your messaging is simple, clear and consistent. Only then are you ready to dive into Market Results, and that’s up next!