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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