The 90 Day Comeback Challenge doesn’t have a weekend, of course – today we continue with the goal of rising like a phoenix from the ashes! In day 4, we will delve deeper into the topic of Product Market Fit: How do we apply Jeff Bezos’ success principle for Amazon? Which three product features will we focus on?
The Path to the Perfect Product
Over the past few days, I’ve received a lot of valuable feedback from you – thank you for that! Internally, our team is buzzing with activity and excitement, even during the weekend. It’s rare to see such engagement and enthusiasm.
Tomorrow, we will continue with the Minimum Viable Product (MVP) and the crucial points to consider. Many people underestimate this step, but it is critical in moving from Product Market Fit to MVP. Here, I want to share an important lesson I learned from Jeff Bezos, the founder of Amazon: focus on three unchanging product features.
The Three Unchanging Product Features
Jeff Bezos defined three central features for Amazon that remain relevant today:
- A vast selection
- Fast delivery
- Low prices
These features are also essential for us at Cake. When we started in 2019, we had three key principles:
- Ease of use
- Attractive returns
- Transparency
These principles have helped us navigate through challenging times, such as in 2022 when many other companies gave up. Although there is always room for improvement, we are proud of what we have achieved.
Customer Feedback and Product Development
In the past few days, we have been working intensively on new product ideas, incorporating your feedback. A key point was simplifying the transition from fiat to crypto and back. We are working to make this even easier and faster in the next 90 days.
We also aim to make the bundles more versatile and user-friendly, including tax optimization options. We want to ensure that using our platform is simple, offers attractive returns, and remains transparent.
Your Role in Our Journey
If you are developing your own product, carefully consider which three unchanging features it should have. This clarity helps not only you but also your customers.
I invite you to join us on this journey. If you are already our customer, I am delighted to welcome you back to our platform. And if you are new, we warmly welcome you!
Conclusion
Today marks the end of Day 4 of the challenge, and tomorrow we will continue with Day 5. We will dive deep into the product range and MVPs. I hope that as an entrepreneur and a customer, you can benefit from these insights and apply them to your own ventures.
Thank you for your support and feedback. Together, we can achieve great things!
Take care and see you tomorrow.
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Your Julian
Entrepreneur / Investor / Athlete / Father
