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Finding Product Market Fit is More Than Just Checking Boxes
- Product/Market Fit (PMF) is the holy grail for startups; it’s the point where you’ve built something people want so much that they can’t imagine living without it.
- Achieving and maintaining true PMF requires balance and judgment.
- Startups in this quadrant have a strong product vision that resonates with customers and demonstrates a deep understanding of their needs and priorities.
- It’s also harder to tell the difference between fake and real PMF when it comes to revenue centric startups.
- Product-market fit (PMF) is often described as a milestone, but in reality, it’s more like discovering a hidden frequency that suddenly puts you in perfect tune with your market.
- The textbooks will tell you to look for these indicators to tell if you’ve achieved PMF:
- Magnetic Customer Retention, High retention, Your churn rate drops significantly, and when customers do leave, they provide detailed feedback instead of simply disappearing.
- Organic Growth on Steroids, Strong word-of-mouth: your users become your most passionate salespeople.
- Beyond the Checklist: The Real Signs, At the heart of PMF, is a deep understanding of the users for your product.
- Effortless Customer Conversations, When nearing PMF, conversations shift from convincing to responding to demand.
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