Karl Schmieder M.S./M.F.A.

Product Market Fit

Posted in 3x5, Book Reviews, Marketing, messagingLAB, Observations, Writing by Karl S. on January 24, 2018

Figuring out product-market fit’s probably harder than this game. Photo by Michał Parzuchowski on Unsplash

To paraphrase, Lean Startup author Eric Reis,

“We can build any product. The question is: Will anyone buy it?”

True Story:

She is developing a new chip set. It’s revolutionary in its design and potential applications.

When I ask about customers, she answers, “We’re building a platform, like the app store.”

When I ask about validated customers, she answers, “It will be a hundred times cheaper. Than the competition. They’ll all buy it. Wouldn’t you?”

When I asks about product-market fit, she asks, “What is that?”

It means, I explain, you have a product that people want to buy.

She repeat her statement about cheaper cost assuring – not just driving – sales.

To me, that’s the end of the conversation.

I can’t help people who haven’t spoken to their potential customers.

Or, those that think they don’t have to.

I can’t draft messages in a void.

I can. Sure. 

But there’s no guarantee they’ll work and I won’t take the risk.

If we agree with Reis (and I do), we’re lucky we can build almost any product today. We also have more knowledge about building businesses.

What we don’t have is insights into customers.

Will they buy our product?

Or not?

The Lean Startup methodology forces you to get in front of your customers.

It helps ensure that you’re developing something the market wants. Before you create it.

Wouldn’t you rather know that up front?

Image from SeekingWisdom.io