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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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