| Product-market fit is a spectrum, as opposed to something you definitely have or don’t - Every business is unique, and metrics frameworks apply differently. Focus on the metrics that matter for your product, and make sure they’re clearly defined - Product Market Fit (PMF) can rise and fall as the product and market change and grow. It’s not this static thing that once you get it, you always have it. B2B Every enterprise company should run a 30-day proof of concept trial. To make these trials productive, company usually requires the customer to agree to buy the product after 30 days if it meets expectations. But… pull the trial after 30 days (no matter what). Then: “If the customer doesn’t scream, you don’t have product-market fit because if they’re not going to buy it at the end of 30 days, they’re not desperate, and if they’re not desperate, you don’t have product-market fit.” “The second biggest mistake I see entrepreneurs make, especially in enterprise, is when they pitch a potential customer on an idea, and when the customer doesn’t like the idea, they try to iterate on the product to build something the customer would want.” “That’s the absolutely wrong thing to do, even though it feels right. You want to find people who love what you’re doing, not try to convince the ‘no’s’ and turn them into ‘yes’s.'” B2C “The only way you know if you have product-market fit is if you get word of mouth” (and the best test of word of mouth is exponential, organic growth) Benchmark: Users scream for the product so you can screw everything up and still win (for a period of time). |