Product and technology companies are obsessed with Product-Market Fit.
The key question is does our product solve a customer’s need well enough so they pay us for it? And are we solving this problem for a meaningful number of customers, meaning are we making enough money to stay afloat?
In the early stages of a company, this is really all that matters.
One thing that product teams often get wrong is a poor definition and understanding of Product-Market Fit. They define arbitrary metrics and targets thinking that when those targets are reached, they’ve achieved Product-Market Fit.
That’s just not how it works.
The more time I spend working in technology, the more I believe Product-Market Fit is a feeling. It’s when people can’t wait to recommend your product, when your product is flying off the shelf, and when you can’t keep up with orders or customer queries. There’s a papable buzz in the team where it feels like you’ve discovered the secret sauce.
The data, metrics, and targets are just guides.
Real Product-Market Fit is a feeling.