Product Market Fit Mental Model

Product market fit is a mental model that demonstrates your product meets the market’s requirements.  

It’s a key milestone in the journey of the startup as it’s the point of inflection for growth and later scale.

Without product market fit the startup will most likely fail.

A startup has achieved product market fit when demand outweighs the supply. 

In other words, customers demand your product faster than you can provide it and you know why they want it.

When you achieve product-market fit customers are spreading the word about your company.

If you stop providing your product your customers have a real problem.

When you don’t yet have product market fit you can change the product, the market, the team, or the value proposition.

Scaling before achieving product market leads to failure as you’re increasing your costs before you have your revenue growth machine in place.

Achieving product market fit is the primary goal of the early-stage startup.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.