EP 199 - John Chen (Fika Ventures) Starting with Zero — Lessons in Finding Product Market Fit

Today on the show we have John Chen, partner at Fika Ventures.In this episode, we discussed the operations of Fika Ventures, a pre-Series A fund focused on B2B software, FinTech, and marketplaces. John emphasized the importance of building close relationships with founders and shares his views on the crucial role of culture and alignment in building a successful company. We also examined the common misconception that the Product Led Growth (PLG) approach applies to all products, which often results in the misapplication of the organic growth concept.We then dove into the intricacies of applying the Product Led Growth (PLG) principle, acknowledging that while it can be valuable for many B2B companies, there are certain scenarios where a more hands-on approach is required. A major part of our conversation revolved around understanding stakeholder requirements and how to best utilize feedback from customers. We also explored the crucial stages of product-market fit and the importance of striking a balance in growing the team.We wrapped up by discussing the challenges of customer acquisition, churn, and retention. John offers great insights on understanding the ideal customer profile and focusing on net retention over gross churn. He emphasized that having a clear understanding of PLG mechanics and mechanisms is key to its successful adaptation.As usual, I'm excited to hear what you think of this episode, and if you have any feedback, I would love to hear from you. You can email me directly at [email protected].