21: Don’t Celebrate Your Company’s Success Until You Find Product Market Fit
Build With Rob
Rob Dyrdek
5.0 • 636 Ratings
🗓️ 20 September 2021
⏱️ 61 minutes
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Summary
Rob views building a company through the Machine Method much like starting a new relationship. Going through the Discovery phase, doing your Diligence on the person to see if the effort is worthwhile, Building a meaningful foundation before Launching into exclusivity, then… time to Scale.
It’s so tempting to get overly excited by that first prototype, seeing your product on the shelf, positive initial customer feedback, and really any other part of the journey of building a business. Each step is so taxing, and each step feels like a journey unto itself. However, Rob would implore you to wait until finding the all important Product Market Fit before popping the Champagne. Only then do you have a real business.
Rob talks to two entrepreneurs on this episode about their businesses and answers their questions about business and life.
Travis Chappell built Guestio as a marketplace for podcasters to book prominent guests for a fee. He calls it Cameo for podcasting. But a secondary feature, hiring talent for endorsements, catches Rob’s eye. https://guestio.com
Korey Klein is a relentless serial entrepreneur. He gives her the advice to do as much failing as possible in the research and development of a product before she spends a dime.
Transcript
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| 0:00.0 | Welcome to Build with Rob. |
| 0:04.9 | I am Rob Deerdeck, founder and CEO of the world's most incredible, amazing venture creation studio, the Deirdek machine. |
| 0:16.7 | And you know what we do. |
| 0:18.1 | We systematically fuse art science and magic to manufacture amazing companies. |
| 0:24.9 | It's what we love to do. We want to master this. So we created a process. We called the machine |
| 0:32.7 | method to create company after company. And this show not only features the founders and the do-or-dire partners that we create |
| 0:42.2 | companies with, but it also features aspiring do-or-diers that I love to connect with and |
| 0:49.3 | share advice about their ideas and sometimes about their lives on on how to evolve, optimize it, |
| 0:58.6 | be better in their business, you know, think about certain ideas in life that may make |
| 1:04.2 | your life better, more efficient and happier. |
| 1:07.4 | And today we got a bunch of great, great aspiring entrepreneurs with with some really |
| 1:13.3 | interesting businesses and a lot of lessons learned. And my life passion is really, I just love |
| 1:19.0 | talking about business and life with everybody. It's, it's something I really enjoy doing. |
| 1:24.8 | I love sharing sort of the, the growth that I've had with other people |
| 1:30.2 | in hopes that I could affect their business or potentially affect their way of life. |
| 1:35.6 | And lately I've been thinking a lot about our machine method and sort of the emotional side |
| 1:43.6 | of creating a business in the stages of business |
| 1:49.0 | development. And really the concept of product market fit and more than anything, the euphoria |
| 1:58.0 | of product market fit. How incredible it actually feels when the product and the |
| 2:06.1 | company is actually working. When you have the right product, right consumer, right distribution, |
| 2:12.2 | right price, and people are buying it over and over again. Oh, oh, oh. I mean, there's nothing like it. It's real |
| 2:23.3 | business. It's the first moment of winning in business. It's literally the most significant win |
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