Business Inspiration
What is product-market fit and why does your business need to understand it?

Recently, we’ve been talking a lot about those terms that fly around the business world, but often leave people in a bit of a muddle. First it was lean startup and design thinking. Then it was design sprints. And now we’re tackling another: Product-market fit.

No doubt you’ve heard the phrase (we’ve used it in a few blog posts ourselves!), but do you actually know what it means? And, more importantly, do you know how to harness it to increase your product or service’s chances of success?

If not, don’t worry! We won’t tell. In this post, we’re going to go back to the basics of what exactly product/market fit is, how to create and how to test it. You can thank us later!

So, what is product-market fit

The term was originally coined by Marc Andreesen, American entrepreneur and co-author of Mosaic, the first widely used Web browser. In his blog post, “The Only Thing That Matters”, he writes, “Product-market fit means being in a good market with a product that can satisfy that market.”

Essentially then, it means creating a brilliant product that is both wanted and needed within a carefully chosen market, to increase your business’s chances of success.

Read the full post here.