Having someone with work experience with brands is important in helping ensure you have
the right product market fit.
Not exact matches
One has to keep the
right parameters in mind and it is natural to tweak and enhance ones
product to
fit the needs of the
market.
They were lucky, they got the timing
right, and after a painful couple of years figured out
product /
market fit, and went public.
If you are outside the Bay Area, 9 times out of 10, you will need significant traction to raise significant investment from the
right people; and therefore, you'll be forced to move as quickly as possible to
product -
market -
fit (or you'll be a goner).
And in the 12 - 24 months it was to always keep an open mind and never assume a
product is
right until you truly have
product -
market -
fit.
«But at least I want to understand your thinking why this problem is the
right problem and the way to solve the problem in the
market and your flexibility to move things around as the
market demand changes and ultimately converges between the
product and the
market fit.»
And in the 12 — 24 months it was to always keep an open mind and never assume a
product is
right until you truly have
product -
market -
fit.
As an entrepreneur, you must focus on building your team, understanding and going after the
right market, finding
product -
market fit and more importantly, first identifying the problem you are going to solve.
Startups are constantly tackling problems, big and small — determining
product -
market fit, developing traction and early adopters, hiring the
right talent, raising money (and figuring out how to spend that money)-- but the key is figuring out which ones matter most to the company's leaders at any given point in time.
Even if there is
product market fit, there is a
right time to spending big on generating growth and that time if after a sound growth hypothesis has been proven.
Mingbo CEO Kenny Koo tells TechNode that companies have to be strategic about finding the
right fit between
product and
marketing.
Some companies like Airbnb and Instragram spend a long time trying new iterations until they achieve what growth hackers call
Product Market Fit (PMF); others find it
right away.
We have seen tremendous interest in our
product and being at Western Foodservice is a perfect
fit for us to meet the
right contacts and expand into the U.S.
market.»
We're just the
right fit when you want to get your
product to
market on time and on budget.
«The focus until now has mostly been on growth and achieving the
right product -
market fit.»
The
product for German customers, using SMA inverters, wasn't the
right fit for U.S.
markets.
It has amended its mission to now «regulate the offering and provisions of consumer financial
products or services under the federal consumer financial laws and to educate and empower consumers to make better informed financial decisions,» and its vision to «free, innovative, competitive, and transparent consumer finance
markets where the
rights of all parties are protected by the rule of law and where consumers are free to choose the
products and services that best
fit their individual needs.»