This resource guide aids digital startups in achieving product market fit (PMF) and offers tips to avoid pitfalls. Understanding PMF is crucial for startup success, as it measures how well a product meets market needs. Achieving PMF allows for business model validation and lays the groundwork for sustainable growth.
What is PMF?
Product Market Fit
Marc Andreessen famously defined PMF as “being in a good market with a product that can satisfy that market.” This means that there are enough people who want your product and they are willing to pay for it.
Product market fit is the perfect place to be as a startup and means your product is located well on the market and has considerable need.
This means that your product has reached the targeted audience and solves their pain points. This strengthens your business model as a startup, allowing you to connect with your customers and your market has room for growth.
PMF Pyramid
- Determine target customer
- Identify underserved customer needs
- Define your value proposition
- Specify your MVP feature set
- Create your MVP prototype
- Test your MVP customers
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