I had a call earlier today with one of my CEOs. He tried to convince me his company had found a product market fit. He shared how his team’s messaging is beginning to take hold in the market. They’ve been invited to speak at conferences. They’ve won some early customers. They have even deployed a couple.
That’s progress. That’s traction. That’s not product market fit.
Product market fit is not subtle. It’s not a caress. It’s a slap. It’s a punch. It’s enough to knock the wind from you.
If you’re not sure you have it, you don’t. If you have to convince me with a lengthy explanation and a series of anecdotes, you don’t.
- Do customers understand your story immediately and easily?
- Do you have a repeatable way of delivering your product and service?
- Does your product or service reliably deliver upon its promise?
- Can you profitably find and win customers?
If you’re fortunate enough to discover product market fit, it will be obvious. Selling suddenly is easy. In fact, it doesn’t even feel like selling. There will be such a match between what you do and what the market needs, you’ll find yourself more concerned with whether you simply can keep up with demand.
If you don’t have product market fit yet, then get to work. Nothing else matters. In the absence of finding a repeatable and sustainable way to acquire and thrill customers, YOU DON’T HAVE A BUSINESS YET. No amount of fancy office space, funding, or press coverage will change that.