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What are some myths about product/market fit?
What does product/market fit mean?
Why is product-market fit important?
Is product market fit a long-term winner?
May 2, 2023 · Key takeaway: Product-Market Fit has to be continuously monitored, tracked, and adjusted to detect changing product and market forces. Maintaining market fit means tracking and evolving feature usage, how they meet customer needs, and sensing where those needs are evolving.
- Ken Oestreich
- Myth: Product Market Fit Is A Moat That Will Protect You from Competition
- Myth: Getting Product Market Fit Means You Will Be A Fit For The Whole Market
- Omission: Product Market Fit Requires A Unique and Authentic Opinion
I actually disagree with Andy Rachleff, our friend at Wealthfront whom I mentioned earlier. Markets are constantly changing (especially in tech), and having product market fit doesn’t change that. You need to be like a shark. You can’t stop moving. If you do, you will be eaten. For instance, last year we were a clear fit for smaller companies, whic...
Marc Andreessen’s definition is too vague to be useful for most of us, particularly those of us who haven’t invented a dominant platform like the web browser. For mere mortals like us, I’d suggest you start by focusing on a niche for two reasons: 1. Huge markets are daunting, and you need to focus to be effective. 2. Deeply understanding your marke...
Unless you are building a product that creates an entirely new market (which is the exception), you have to displace a competitor to get your fit. No one is going to switch to your product if you are a copy of what already exists. That means you need find a unique opinion that resonates with an unmet need your market has. For example, Jeff Gardner ...
Myth #1: Product market fit is always a discrete, big bang event Myth #2: It’s patently obvious when you have product market fit Myth #3: Once you achieve product market fit, you...
Jul 27, 2023 · This difficulty has led some people to suggest that product-market fit is just a myth. That said, product-market fit isn’t a myth, but it’s over-simplified, over-quoted, and often misunderstood. In this article, you will learn what product-market fit is, the components that influence it, and how you can achieve it for your own product.
Aug 24, 2021 · Myth 1: You have to be a specific size before you can start focusing on product-market fit. Some startups I talk to feel they are too small to start focusing on PMF; they need to grow before doubling down on PMF. Finding PMF is not a chicken or egg debate; PMF definitely came before hypergrowth.
Feb 18, 2017 · #8 “Product/Market Fit Myths: Myth #1: Product market fit is always a discrete, big bang event; Myth #2: It’s patently obvious when you have product/market fit; Myth #3: Once you achieve product/market fit, you can’t lose it; and Myth #4: Once you have product/market fit, you don’t have to sweat the competition.”
Apr 15, 2024 · Key Takeaway: The essence of product-market fit is aligning a product with a market’s demand, and this alignment is a dynamic process influenced by market changes and competition. The lean startup methodology and problem-market fit help entrepreneurs validate ideas and build successful products.
