Organic Marketing
Startup 360°|July 2017

Startup’s product market fit deriving Success from first principles

 

UNDERSTANDING THE INFLECTION POINTS IN THE START UP JOURNEY

A start up journey can be quite a roller coaster, especially, when it is still early stage trying to bring the needed traction. I am sure, you all have heard of the ‘product market’ fit concept. It is when startups need to vet their idea/product with different market segments and find that niche. This is the quintessential step in this multi-step journey.

What does finding the niche mean? In simple terms, it is when people want/need your product and would be disappointed if you went out of the market. Having seen the startup world for a little bit now, it seems like this is the crucial, make or break phase.

From looking at history, most startups have about 1-2 years of reaction time to make this fit happen. More than 66% of early stage startups do change their original idea to take off and scale, while others struggle. But if the ‘fit’ has not happened in that time, then it’s safe to say that there’s no merit in investing more in that idea. nothing wrong with the idea, but it has found a demand or the market has already addressed that need.

And if you got out of this effort without burning cash in sales and marketing, you made some wise moves there.

Bringing in the Love Before Hitting the Growth Pedal, Why?

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