Understanding Product/Market Fit is one of the toughest challenges for entrepreneurs. At this stage, the art of going to market meets science and vice versa. More data gives you insight into the size of your addressable market.
It’s convenient to think: “All I need is X% of Y’s market and this company will be a homerun!”
In theory it sounds more than possible and dare we write. . . almost easy! Then, you look at your product and realize show stopping bugs and a mountain of feature requests are today’s challenges to earn tomorrow’s market share.
Entrepreneurs can spend years in this stage finding Product/Market Fit or you can speed right by it depending on your market and product.
The solution is simple: get 10 paying customers.
If you can get 10 customers, you can get 20. If you can get 20, you can get 50. If you can get 50 you can get 100 and so on. All of sudden your sweat, tears, and hustle have produced a very good start to winning market share. Typically, we invest $250K - $1 Million in Product/Market Fit Stage companies. Let us know how we can help!
BONUS: Here are 5 ways to identify Product/Market Fit right now.