The Mythical Mirage of Product-Market Fit and How it is bad for your business.

The entire concept of “product-market fit,” i.e., that there is some mystical, universal, and definite tipping point for when you should stop enhancing your product and start marketing it,

To be honest is a bunch of nonsense.

In the early 2000s, venture capitalists wanted a means to say:

“I don’t think your product relates with prospective buyers, but I’d prefer not to give you a statistic since it’ll be embarrassing if I say No again.”

As a result, the term “product-market fit” was coined.

The concept spread throughout Silicon Valley and into that era’s blogs and novels (most famously, The Lean Startup).

As a result of the startup world’s embrace, every founder is chasing the mythical “product-market fit,” even though there is no consistent delineation.

VCs used visualizations like this in blog posts and opinion pieces.

Because you were “too revenue-centric” or “too sexy storyline,” PMFit allows someone to disqualify a prospective investment in your company. What are you going to say or do in response? Nothing!

However, PMf leads us to make bad choices, such as:

A. delay marketing until the product is “fit”;

B. chase a “gut feeling” from investors.

C. Look for data that fits a story.

and, possibly worst of all,

D. After getting the mystical “fit,” largely neglect the product.

Well, The whole idea of a binary “yes” or “no” for product-market fit doesn’t exist, and it isn’t helpful.

It is, without a doubt, a spectrum. Some clients are more receptive to certain products than others. So, what’s the point? What good does that do us?

We must abandon the binary and embrace the spectrum.

What could or should you do differently if your product receives a 70 out of 100 on a customer-resonance scale versus a 41 out of 100 or a 91 out of 100?

For creators, Founders, and marketers, it’s a meaningless concept. We need to-

1) Create segments for our customers/potential clients.

2) Determine where and with whom we can engage.

3) Decide on the type of product or marketing investment to make and when to make it.

It’s fine if you’re an investor who trusts your instincts. and say sorry, you can say. But don’t create an indefinable concept only to avoid a difficult conversation.

And if you’re a founder, avoid this blabber. Customers are the ones you should build for and market to.

So if you’re looking for some really helpful Marketing content, feel free to share this with your colleagues. And while you’re at it, follow me on all my socials for more of the same.

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