Key Points

● Product-market fit is being in a good market with a product that can satisfy that market.

● 3 pillars of product-market fit (PMF):

• Who: whose problem are you trying to solve (target market)

• What: what you are offering (solution -> product -> MVP)

• How: strategy to bring your product to market (plan of action)

● A value proposition is a statement of the functional, emotional, and self-expressive benefits that provide value to the target customer.

● A minimal viable product is a version of a new product with just enough features to attract early adopters and validate a product idea.

● It’s difficult to know you’ve achieved PMF and it is likely it may only become known in hindsight. PMF is often a moving target as the market changes and continually adapting your product to try to achieve PMF is where the value lies.