The Foolproof Formula for Finding Product-Market Fit

Added by trevorhatfield 8 years ago in
Problem-Solution Fit
Product-Market Fit

Products and markets may be unique, but the path to finding product-market fit is not. Its formulaic, and I’m going to share the formula with you here in the coming months, starting now.

But first, it’s important to understand why now more than ever when it comes to sales, founding teams need to be thinking early about market development, and not just product development.

Welcome to the Age of Applied Technology

In the past, technology was expensive and complex. Product talent was sparse. So, the biggest risk for startups was in the product itself. Nowadays – generally speaking – the costs and complexity of technology are greatly reduced and product talent is plentiful. The risk now lies in capital efficient market development, not product development.

The New Seed Stage

My partner Andrew Goldner likes to say that, “In Silicon Valley, ‘A’ is the fourth letter of the alphabet.” It’s true! Before your Series A, you now raise a Pre-Seed, Seed, and Bridge round, all before Series A. This graph illustrates the point and the distance startups must go before raising an A round:

New Seed Stage Length

You must be logged in to post a comment

Log in