Remember your childhood, when you tried to fit a square peg in a round hole? It didn’t work then, it doesn’t work now. To have success you need to make sure that hole and peg match, that is: that you achieve product/market-fit.

The Basics

Product/market-fit means that you are in a good market with a product that can satisfy that market. Product/market fit is the intersection of the market and your product. You feel it when you have reached product/market fit. People are buying your product faster than you can make it, they spread the word around, you are constantly hiring people and reporters are calling you are only some indicators. Sounds like a dream, doesn’t it?

Unfortunately many entrepreneurs never get to this point. So how can you get to this promised land? First you have to understand that product/market-fit is the plan that works, not necessarily the plan that you had anticipated to work. Keep in mind that your ideas are merely assumptions which need to be tested and are likely going to fail. So get out of the building, find, meet and speak to potential customers. Afterwards analyse your results, even the negatives! They will help you to create your Minimal Viable Product (MVP). Once you successfully developed an MVP you are ready to find the must-have signals from your customers. With this knowledge and a healthy dose of luck you are on the best way to achieve product/market fit.