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Intro

What is Product Market Fit?
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

1

Problem Insight

Customer research
Personas
Customer empathy map
Customer journey map

2

Value Proposition

What is Product Market Fit?
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

3

Problem / Solution

What is Product Market Fit?
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

4

Intro

Iterate, Pivot, Persevere
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

5

Measuring P/M Fit

Customer research
Personas
Customer empathy map
Customer journey map

6

Common Challenges

What is Product Market Fit?
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

7

Resources

What is Product Market Fit?
Why is it important?
How do I separate product and market?
The Product Market Fit Journey

 

What is Product Market Fit?

Product Market Fit means you have identified a problem that a sizeable group of people really need solved, a product that can be built well to fully solve that problem, and a business model that can be executed to be profitable at some point in time.

 
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“Product market fit means being in a good market with a product that can satisfy that market."
Marc Andreessen

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“Product market fit is the moment when a startup finally finds a widespread set of customers that resonate with its product.”
Eric Ries

 

Why is product market fit important?

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“First to market seldom matters. Rather, first to product/market fit is almost always the long-term winner.”
Andy Rachleff

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“In general, hiring before you get product/market fit slows you down, and hiring after you get product market fit speeds you up.”
Sam Altman

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“The life of any startup can be divided into two parts – before product/market fit and after product/market fit. When you are BPMF, focus obsessively on getting to product/market fit.”
Marc Andreessen

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“Startups need 2-3 times longer to validate their market than most founders expect. Ee found that 70% of startups scaled prematurely along some dimension.”
The Startup Genome

 

How do I separate product and market

The Product-Market Fit Pyramid is an actionable framework that defines PMF in a hierarchical model using five key components.

  • Each component is a layer of the pyramid that’s directly related to the layers above and below it. In the process of defining and building products, a startup forms hypotheses in all five areas.  
  • The Lean Product Process, as outlined in The Lean Product Playbook, is a useful guide for working through the Pyramid layers, from bottom to top.  
  • Product-Market Fit can be thought of as the measure of how well your product (the top three layers of the pyramid) satisfies the market (the bottom two layers of the pyramid).  
  • The Pyramid separates the market into its two distinct components: the target customers and their needs.  
  • It’s important to understand that without a solid understanding of the base layers - The Market - companies may require hard pivots or waste resources on the wrong target customer or problem set.

How do I separate product and market

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 The Product Market Fit Pyramid from  The Lean Product Playbook , by Dan Olsen

The Product Market Fit Pyramid from The Lean Product Playbook, by Dan Olsen

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Next page: Problem Insight

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