What is it?
A validation that you have built a useful product for a specific market. Ideally, an important milestone to reach before you scale your company.
- Lots of repeat users across months (not just days, weeks).
- User Acquisition is easy – WOM and Organic channels are shining.
- You are growing out of office space and support staff.
It doesn’t imply:
- Your startup is successful – Competitors will come and your market will evolve.
- That once achieved, you can’t lose it (eg Nokia, Myspace).
How to achieve Product Market Fit:
- Understand your consumer’s problems super well.
- Focus – on solving their biggest pain point.
- Be patient and restless – It will not happen quickly and will take toil, failures, experiments, pivots.
According to Marc Andreesen
Do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want to, raising that fourth round of highly dilutive venture capital — whatever is required.
When you get right down to it, you can ignore almost everything else.