Construct one thing individuals need. It’s a easy idea — and one which Y Combinator loves to repeat — however one that may be laborious to get proper when constructing a startup.
How strongly a expertise good or service resonates with potential prospects is usually referred to as “product-market match,” or PMF. The extra product-market match you will have, the better it is going to be to promote your startup’s merchandise and, normally, the much less continuously prospects will churn.
PMF is due to this fact a crucial startup theme, even whether it is laborious to outline exactly. One definition that has all the time resonated together with your humble servant is that product-market match is when prospects are ripping the product out of your fingers. That doesn’t apply evenly to all startup merchandise, however it’s a very good rule of thumb.
Jess Lee is coming to For Millionaires Early Stage in Boston this yr to assist founders seeking to attain, or refine, their present PMF information their upstart tech corporations in the correct route.
Early Stage is shaping as much as be presumably our best-ever shindig for early-stage founders, with NFX’s James Currier, Underscore’s Lily Lyman, and naturally Lee herself coming ’spherical to speak store.
As with all Early Stage occasions, viewers Q&A can be a crucial element of each session, so deliver your pocket book, a number of pens, and I’ll see you on April 25! Seize your tickets now to avoid wasting $200, earlier than costs go up on March 29.
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