Saved by Chris Muth
False Positives and Service-Market Fit
Product/market fit. How well does this specific product fit the market need that has been identified? Even more important, why? As investors, we much prefer to invest in “painkillers” that solve an existing problem, rather than “vitamins” that are simply better/faster/cheaper than an existing solution.
David S. Rose • Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups
Product/market fit shows up in terms of happier customers, lower churn rates, shortened sales cycles, and rapid organic growth.
Marty Cagan • INSPIRED: How to Create Tech Products Customers Love (Silicon Valley Product Group)
Are you actually doing all these customer discovery calls because you believe it’s the fastest way to check your assumptions about the market ( a la “bias for action”), or are you really just avoiding the harder but more important step of building out your product?
Dr. Gena Gorlin • Vision or delusion? (Part 1)
Turns out no amount of fundraising, press, buzz, amazing employees, and/or cool tech guarantees you product market fit.
One of the most common mistakes entrepreneurs make is they come up with a technological breakthrough but they do not spend any time analyzing the industry structure or if go-to-market is even possible