customer pain points

0:00 - 1:20 Intro

1:20 - 8:55 The founding of Modern Treasury

8:55 - 15:28 First customers

15:28 - 20:07 Building trust

20:07 - 32:00 Creating a category

32:00 - 35:28 Advice for founders/Outro

Brought to you by Sidebar—Catalyze your career with a Personal Board of Directors | Merge—A single API to add hundreds of integrations into your app | Eppo—Run reliable, impactful experiments

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Bob Moesta is the co-creator of the Jobs To Be Done (JTBD) framework, a close collaborator of Clay Christensen, and CEO and founder of The Re-Wired Group. He has helped launch more than 3,500 new products, services, and businesses and built and sold several startups himself. He is also a fellow at the Clayton Christensen Institute and a guest lecturer at the Harvard Business School, MIT Sloan School of Entrepreneurship, and Northwestern University’s Kellogg School of Management. In this episode, we discuss:

• What Snickers and Milky Way can teach us about JTBD

• The various flavors of the JTBD framework

• Best practices for implementing the framework

• Advice on conducting interviews for B2B vs. B2C customers

• Common mistakes people make when implementing JTBD

• When not to use it

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Find the full transcript at: https://www.lennyspodcast.com/the-ultimate-guide-to-jtbd-bob-moesta-co-creator-of-the-framework/#transcript

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Where to find Bob Moesta:

• Twitter/X: https://twitter.com/bmoesta

• LinkedIn: https://www.linkedin.com/in/bobmoesta/

• Website: http://www.therewiredgroup.com/

• Podcast: https://pca.st/gg6goo1n

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Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• Twitter/X: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Bob’s background

(04:04) A simple explanation of the Jobs To Be Done framework

(07:29) Struggling moments and demand

(09:51) Understanding the context behind pain points

(11:14) Reducing friction in the sales process

(14:46) How Autobooks improved their buying process and 4x’ed conversion

(16:52) The six phases of the buying process

(18:30) The JTBD interview process

(21:55) How Bob’s TBI affected his reading/writing and how he is able to write books

(22:02) Why people switch companies

(27:18) Tips for JTBD interviewing

(30:07) Why you should not have a discussion guide

(32:48) The danger of looking at the customer through the product

(33:53) First steps in applying the JTBD framework

(36:25) Signs people are ready for a change

(37:43) Bob’s “layers of language”

(40:15) Examples of companies with a broad adoption of JTBD

(43:59) The different flavors of JTBD and common mistakes to avoid when implementing it

(48:19) Bob’s work with Clay Christensen on JTBD theory

(51:05) When not to use JTBD

(53:40) Common misconceptions about the framework

(55:55) What compelled Bob to spend so much of his life on JTBD

(58:07) Three big takeaways

(59:07) Lightning round

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Referenced:

• Jason Fried on LinkedIn: https://www.linkedin.com/in/jason-fried/

• Des Traynor on LinkedIn: https://www.linkedin.com/in/destraynor

• Southern New Hampshire University: https://degrees.snhu.edu/

• Paul LeBlanc on LinkedIn: https://www.linkedin.com/in/paul-j-leblanc-6a17749/

• Demand-Side Sales 101: Stop Selling and Help Your Customers Make Progress: https://www.amazon.com/Demand-Side-Sales-101-Customers-Progress/dp/1544509987

• Autobooks: https://www.autobooks.co/

• Intercom: https://www.intercom.com/

• Zendesk: https://www.zendesk.com/

• HubSpot: https://www.hubspot.com/

• The Kellogg School of Management at Northwestern University: https://www.kellogg.northwestern.edu/

• Y Combinator: https://www.ycombinator.com/

• Michael Horn on LinkedIn: https://www.linkedin.com/in/michaelbhorn/

• Ethan Bernstein on LinkedIn: https://www.linkedin.com/in/ethanbernstein/

• Never Split the Difference: Negotiating as If Your Life Depended on It: https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805

• William Edwards Deming on Wikipedia: https://en.wikipedia.org/wiki/W._Edwards_Deming

• Basecamp: https://basecamp.com/

• Sriram and Aarthi on Lenny’s Podcast: https://www.lennyspodcast.com/hot-takes-and-techno-optimism-from-techs-top-power-couple-sriram-and-aarthi/

• Genichi Taguchi: https://www.qualitygurus.com/genichi-taguchi/

• Tony Ulwick on LinkedIn: https://www.linkedin.com/in/tonyulwick/

• The Clayton Christensen Institute on LinkedIn: https://www.linkedin.com/company/clayton-christensen-institute/

• Shape Up: https://basecamp.com/shapeup

• The End of Average: Unlocking Our Potential by Embracing What Makes Us Different: https://www.amazon.com/End-Average-Unlocking-Potential-Embracing/dp/0062358375

• The Big Bang Theory on TBS: https://www.tbs.com/shows/the-big-bang-theory/watch-now

• Oppenheimer: https://www.oppenheimermovie.com/

• Kyota massage chairs at Costco: https://www.costco.com/massage-chairs-cushions.html?brand=Kyota&refine=%7C%7CBrand_attr-Kyota

• Paul Adams on LinkedIn: https://www.linkedin.com/in/pauladams/

• Matt Hodges on LinkedIn: https://www.linkedin.com/in/mattnhodges/

• Andrew Glaser on LinkedIn: https://www.linkedin.com/in/glaserandrew/

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.

"When you're looking at problems in the business, start with the big obvious hairy one, which is probably the one you don't wanna look at.” Today, Alex (@AlexHormozi) discusses the importance of confronting the big, obvious problems in business rather than looking for advanced solutions to small problems. He emphasizes the need to focus on the fundamentals and execute them consistently to achieve success.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(1:31) - Clear, simple communication is effective.

(3:44) - Address the big, obvious problems in business.

(7:13) - Goodwill is important to prevent attrition.

(7:50) - Emotionally detach when appraising business.

(10:00) - Finish strong to circle back to the beginning

(12:34) - Consistency is key to making more money.

Follow Alex Hormozi’s Socials:

LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition 

Once you’ve found the “aha” moment, keep on asking questions. Today, Alex (@AlexHormozi) discusses the critical moment in a sales pitch where the customer must realize what went wrong in their past attempts to solve their problem. He argues that this "aha" moment is necessary in order to break the customer's belief and show them why the new solution being offered will work.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(0:47) - Salespeople miss the aha moment by not knowing it.

(1:50) - Determine the one thing you're driving towards.

(3:43) - Ask with childlike curiosity to lower their guard.

(6:06) - Lack of accountability is why you failed in the past.

(7:55) - Build rapport by making them feel better about themselves.

Follow Alex Hormozi’s Socials:

LinkedIn  | Instagram | Facebook | YouTube  | Twitter | Acquisition