Garry Tan (YC CEO) on Product Market Fit
by Joe · 19 things on Twos
- After reading about startups for several years, I’m bored to death of talk about product-market fit.
- Product-market fit is a fancy way of saying “Will anyone buy what you’re selling?”
- Nonetheless, it’s often described as a singular moment, after which your path to IPO and riches is assured.
- In reality, it’s more nuanced.
- Product-market fit is an ongoing process of refinement.
- Initially you’ll find something that someone wants.
- But to capture a bigger market or to sustain the market’s interest, the product will have to adapt to your customers’ evolving needs.
- This goes back to first principles of “making something people want”.
- Make sure they still want it, or anticipate what they will be wanting a year from now.
- The way to maintain product-market fit is to continuously interact with your users and understand their needs and pain points.
- Listen to their feedback.
- Test novel solutions.
- Analyze the data.
- Challenge your assumptions.
- Like this list if you want Twos ❤️
- Suggest novel solutions in the comments