A Product Market Fit Show | Startup Podcast for Founders

Zach was burned out after a decade of working at top roles in Coinbase, Square and Brex. He quit with no startup idea-- and then, he went right back in. Given their background, Zach and his co-founder quickly raised an $8M seed round to build an NFT-related product in Web3.One month later, they completely abandoned their idea. They realized it was never going to work. Then, the floor fell from underneath them. FTX went bankrupt. SVB fell apart. They took punches to the face for the first 6 months straight.But, when everyone was paying attention to Gen AI in late 2022, Zach kept going deep in Web3. He noticed stablecoins were growing but there was no platform for developers to build with. So he built Bridge, a Stripe-like API for stablecoins.The first months post-launch were underwhelming-- until they landed a fast-growing customer. From then on, the next year was exceptional 10x+ growth. Then Stripe noticed them.In Oct 2024, they were acquired for $1.1B. Just 2.5 years after he started.Here's the story of how it all happened. Why you should listen:Why even $1B+ exits still feel like rollercoasters from the inside. How to quickly abandon ideas and pivot to what truly matters.How they found a massive opportunity where no one else was looking.Why starting outside of the Bay Area was critical to their success.Keywordsstartup, billion-dollar exit, stablecoins, investor relations, crypto, fintech, market dynamics, entrepreneurship, pivot, challenges, stable coins, startup journey, acquisition, fintech, market resilience, product market fit, Pablo Srugo, Bridge, Stripe, entrepreneurshipTimestamps(00:00:00) Intro(00:2:46) Starting at the Worst Time(00:8:56) The Emotions on Pivoting a Month After Raising(00:11:44) Pivoting(00:18:24) Leaving Brex(00:20:36) Working on Something Out of Trend(00:28:34) The Core Beliefs of Bridge(00:32:56) Launching & First Customer(00:38:57) Sometimes you Can't Think Too Much(00:42:29) Series A(00:44:24) The Acquisition(00:49:05) The Feeling of Exiting for a Billion(00:52:24) One Piece of AdviceSend me a message to let me know what you think!

We took examples from the last 100 episodes and built a clear, 5 step path to finding product market fit:1.Before Startup Mode, There’s Research Mode —> Become an expert to find problems worth solving. 2.Only the Insanely Focused Survive —> Focus all your resources to do more with less. 3.You have to be in the market to win the market —> Use niche markets to discover unique insights. 4.Forget Growth. Find Value. —> Optimize for value delivery and growth will follow. 5.Pivot Harder, Faster —> As soon as you realize you’re not solving a #1 problem, pivot.Why you should listen:Why creating value by solving problems is the core of startups.Startups must avoid perfectionism and embrace learning.Research mode involves deeply understanding customer needs.Insane focus and hustle are essential for early-stage success.Validation comes from engaging with the market directly.Why growth should be a byproduct of delivering value.Keywordsstartups, product market fit, entrepreneurship, research mode, focus, hustle, validation, customer experience, growth, business strategy, Wattpad, user-generated content, agility, iteration, product market fit, startup growth, pivots, entrepreneurship, value creation, founder storiesTimestamps:(00:00:00) Intro(00:01:47) Who is Chris Saad?(00:02:30) Pablo's Story(00:05:53) The Core to Early Stage is PMF(00:09:07) Step 1: Research Mode(00:16:44) Step 2: Only the Insanely Focused Survive(00:23:46) Step 3: Be in the Market to Win the Market(00:32:57) Step 4: Forget Growth, Find Value(00:37:59) Step 5: Pivot Harder and Faster(00:45:45) RecapSend me a message to let me know what you think!

Gusto is a $9.5B startup that does $500M ARR. Josh built an absolute monster of a company-- and it all started with payroll software for SMBs. Not just that, he started by servicing only new tech startups that were based in California. It was exceptionally niche, and it worked.After YC, he raised a $6M seed round from tier 1 angels, back when large seed rounds were not at all common. But, unlike others, he didn't spend the money. He kept his team small as they iterated on the product. By the time they raised their $20M Series A, they were  only 10-15 people. Here's the story of how they got started, gained initial traction, and took off.Why you should listen:Why starting super small can lead to massive outcomes.Why you need a huge, no-brainer pain point to succeed.How to use early customer interviews to deeply understand your ICP. Why small teams allow for faster decision-making and execution.Why deep passion about the problem set is so important.KeywordsGusto, Josh Reeves, entrepreneurship, startup, payroll, small business, Y Combinator, business model, innovation, technology, fundraising, startup, product-market fit, team building, customer satisfaction, growth strategy, small business, Gusto, entrepreneurship, SaaSSend me a message to let me know what you think!

We go through the top 5 product-market fit lessons I've learned from speaking to well over 100+ founders on this show over the last 3 years.These are the top 5 things you should keep top of mind going into 2025.Why you should listen:Small teams outperform larger ones in early stages.Paying employees well is needed to build A+ teams.Go all-in on fundraising to do it faster. Mind your burn rate to maintain flexibility.Creating undeniable value is essential for growth.Keywordsproduct market fit, startup strategies, fundraising, small teams, value creation, entrepreneurship, founder insights, business growth, early stage startups, team dynamicsSend me a message to let me know what you think!