then get it done, before you fail. Most startups fail before reaching P/M fit. Usual y it takes years, not months, to reach it
product/market fit, the easy way.
choose your own difficulty. (But real y, you should take it easy on yourself)
pre-existing product category Ideal y, many customers who know they want your product. They are already looking. They know how to compare and shop for products like yours.
very large # of customers “pulling” Ideal y, there’s a huge market of pre-existing “pull” for your product. Validate with searches, ads, etc. A big market means there’s often room to segment.
lots of successful competition Ideal y there’s lots of competition with traction. More datapoints to figure out what the true MVP looks like. However, ideal y fragmented or incompetent or on a different platform.
clear axes of competition Ideal y, it’s very clear how you are trying to substitute for a pre-existing product. Simpler, but different. Different: Escaping the Competitive Herd Blue Ocean Strategy
build for yourself Ideal y, you’re a superuser of your own product category, so you can understand what competitive dimensions work.
Easiest short-term path: Clone something that already has P/M fit If the market keeps growing, then new users wil come to you just to try it out. Lots of problems through.
pre P/M fit post Product/Market fit 50 37.5 25 12.5 traction. 0
More balanced: Clone 80%, innovate on 20% Make sure your innovation is fundamental and can be experienced in the first 60 seconds in the UX. Analyze and pick a clear competitive dimension.
metaphors often lead to “fake” markets X for Y “Pinterest for business” vs “Pinterest for dogs” The substitution test
too much “minimum” in MVP Competing in existing markets means there’s a baseline. Build something simpler, and different, but you’l want to focus on switching people.
technology in search of a problem
a bet on new human behavior
art for artists
very lean startup, but terrible market and product choices.
how to scale?
“throw VC money and MBAs at the problem” Once it works, then it’s an optimization problem to figure out how to distribute it cheaply to as many people as possible. Usual y through paid ads, SEO, or virality.
Paid ads Get this equation to work: LTV = 3 * CPA
Viral loops Get this equation to work: # invites/user * invite acceptance > 1
SEO Get this equation to work: % content creation * # created * Google Magic