Often, startups think Product/Market fit is found by obtaining their first customers. They try to validate their product and customer base by building this Harry-Potter sales funnel thinking they can create a customer. The only measure part of the equation is the sales activity they generate within the funnel. I am not saying it doesn’t happen but I would enjoy seeing the success rate on it.
Product/Market fit to me aligns itself more with the principles of Action Research and a method that Sagor & Williams outlined called “Finding You Focus.”
How I apply it:
- Target Identification: The 4 Ps are still alive and well. I swap Place out and use Platform and use a few other liberties.
- Finding Focus: An internal exercise where we will substantiate our hypothesis and prototype.
- Refining Focus: An external action where we visualize what success is for the customer and us.
- Assessment: We synthesize and conceptualize our go-to-market strategies.
There is no selling taking place. If we find someone that can’t live without our product and buys that is awesome. However, that is not the goal. The goal is to construct the offering (4 Ps) in a manner that for a group we are the only choice. They cannot live without us. If we can do that, we may have a scaleable product.
My Original Post using this outline: Finding, Refining & Assessing Your Focus
Cannot live without us: “Do You Take Your Brand Serious Enough?” In your brand’s most powerful moment, does it have a sense of awe about that it is the only choice and all other things are completely ignored?