Product Market Fit

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Product Market Fit

On September 4, 2018 in entepreneurship 1 minute read

Notes from Peter Rheinhart’s How to Find Product Market Fit:

Seeking Product Market Fit

  1. Kill bad ideas fast
  2. Stay lean to prolong your runway
  3. Talk to customers
    • What problem do they have
    • Why haven’t they solved it
    • Separate pitching and exploring
  4. Iterate on the product
    • Don’t shift audience and product at the time
  5. To find the true value of your product, start selling it

Achieving Product Market Fit

  1. Category Leaders
    • Have built a platform other businesses can build their on (real platform = $100M revenue)
  2. Examples of Bad Market Fit
    • Hustling / bullying customers to use your product
    • Idle interest and no follow up
    • Trickle of customers coming in
  3. Examples of Good Market Fit
    • Immediate interest; all metrics moving
    • Sensation of market pulling more than you have
    • Starts small and evolves to solve adjacent problems
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