What improvement multiple does the speaker recommend for a product or service?

Name: I Gambled My Entire Business On THIS... #shorts
Uploaded: 2022-09-16T02:20:17+00:00
Duration: 37 s
Channel: Nate Tilley
Description: A short YouTube monologue (Nate Tilley) about how to find product-market fit by testing market hypotheses: form a hypothesis about what customers want…

Nate TilleyCo-Founder, ROAS · Direct Response Expert

I Gambled My Entire Business On THIS... #shorts

16 Sept 2022 · 1 min

Watch on YouTube

0:37

A short YouTube monologue (Nate Tilley) about how to find product-market fit by testing market hypotheses: form a hypothesis about what customers want and the price they'll pay, run tests and iterate on variables until finding what works, then build the product or service. Emphasizes making offerings dramatically better than existing solutions (recommended improvement: 10–20×, or up to 100×).

Questions this video answers

10 to 20 times better, if not 100 times better than existing solutions.

Chapters

You're coming up with a hypothesis saying, I think that this is what the market wants, and I think that they will buy this at this price point. And then you're going out there and then you're just testing it. And if it doesn't work, then you need to test other variables in that hypothesis to try and get product, market fit and try to figure out something that is going to work. You go through that process and you find out what they want, and only once you find out what it is that they want do then you go and you make the product or service. You should make a product or service that is 10 to 20 times better, if not a hundred times better than the existing solutions to that problem on the marketplace.