Excellent Conversations Don’t Equal Product/Market Fit

Recently I was talking to an entrepreneur that was excited about a number of excellent conversations he was having with prospects. Potential customers were sharing details around their problems and expressing real pain. Then, the entrepreneur volunteered that he thought he was close to product/market fit. Excellent conversations don’t equal product/market fit. Product/market fit comes…Read more Excellent Conversations Don’t Equal Product/Market Fit

Assessing Product/Market Fit

One of the never-ending startup discussions is around assessing product/market fit. Product/market fit is the idea that the product’s form and functionality meets the needs of the market. Fit isn’t an on/off item, rather it’s a continuum with various dimensions. And, for entrepreneurs without product/market fit, not much else matters. Here are a few ideas for assessing…Read more Assessing Product/Market Fit

Product Pricing Doesn’t Matter Pre Product/Market Fit

Recently I was talking with an entrepreneur about product pricing and positioning ideas. Only, this startup was pre product/market fit and didn’t have 10 passionate customers. My advice: product pricing doesn’t matter when searching for product/market fit. What matters is getting the product in the hands of as many potential customers as possible and iterating based on feedback.…Read more Product Pricing Doesn’t Matter Pre Product/Market Fit

Initial Product-Market Fit

When entrepreneurs set out to build their company, they have grand visions and aspirations. The product needs to do this, and that, and the other thing. The list goes on and on. Only, product-market fit starts small. Really small. Here are some thoughts on initial product-market fit: 10 friendly customers like the product and give friendly-focused feedback,…Read more Initial Product-Market Fit

Losing Product-Market Fit

One of the hot topics in startups is around product-market fit. Whether it’s how to know if you’ve achieved product-market fit or how product-market fit relates to raising money, there’s plenty of information available. Well, there’s another aspect of product-market fit that’s almost never talked about: losing it. Just because product-market fit is achieved, it doesn’t…Read more Losing Product-Market Fit

Product-Market Fit Before Raising Venture Capital

Andy Rachleff, founder of Benchmark Capital (one of the top venture firms), has a great new article up titled Why You Should Find Product-Market Fit Before Sniffing Around For Venture Money. In it, he argues that entrepreneurs should approach venture capitalists once it’s clear that there’s a set of users that truly value the product. Just…Read more Product-Market Fit Before Raising Venture Capital