<ul data-eligibleForWebStory="false"><li>Start-ups often mistake early promising signs like user numbers, revenue, and partnerships for scalable and defensible businesses, leading to a high failure rate due to lack of market need.</li><li>Product-market fit (PMF) is essential for a start-up's success, as shown by examples like Figma's explosive growth after nailing multi-user collaboration and Juicero's collapse despite early sales and funding due to a flawed product premise.</li><li>To achieve PMF, founders should prioritize retention metrics, honest evaluation of value propositions, and be willing to pivot or kill off what's not working, as seen with Airbnb's shift from Craigslist arbitrage to redefining travel experiences.</li><li>Resilient start-ups delay scaling until they establish real PMF, focusing on customer feedback, meaningful metrics, and avoiding premature scaling to ensure sustained growth and success.</li></ul>

The Product-Market Fit Trap: Why Most Start-ups Stall at ‘Good Enough’

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