MBA2060 Q&A Wednesday: How many customers do I need to have product/market fit?
How do you know when you've really struck oil? Product/market fit is the gold standard of business viability. Once you have it, you're golden. And if you don't have it...well, an uphill battle is your best-case scenario.
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Show Notes
How do you know when you’ve really struck oil?
Product/market fit is the gold standard of business viability. Once you have it, you’re golden. And if you don’t have it…well, an uphill battle is your best-case scenario.
So what defines product/market viability, and what metrics can prove it’s there?
It’s Q&A Wednesday, and we’ve got a listener who may or may not be on the cusp of escape velocity. Their product might be striking a chord. It’s clearly right for some people — but is it right for enough people?
Today, we explore varying definitions of product/market fit, share the definition we think is most useful, and discuss how to know whether you’ve gotten there. Learn what really makes a business sustainable in the long term, and how to tell if your business has it. Click Play!
To submit your questions, visit 100mba.net/q.
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