Day 34 - Product Market Fit

What is Product Market Fit?  It means being in a good market and the product can satisfy that market.

When you achieve Product Market fit the experience is so good it's a leap forward and drives a user to adopt a new behavior e.g When Uber first came on the scene people hadn't experienced pushing a button on their phone that would immediately summon a classy, reliable ride at their behest.

BUT, the market size matters most for Product Market Fit. You can build a better mouse trap (software solution or experience) but if there's no mice (customers) it doesn't matter.  For a product to be successful, it's not enough for the product to be great, the customers have to WANT it.

1. Articulate a value proposition and try and validate by testing with real users. Talk to real people.
2. Build something people want that solves for THEIR real problems, not yours. Ask them what their pain points are.
3. Product Market Fit is essential before substantial growth of your user base.
4. Usage - If at least 40% of your users would be unhappy if your product were no longer available you've reached Product Market Fit.
5. Marc Andreessen of Andreessen Horowitz says that "The only thing that matters is getting to product market fit."