Life of a Business Owner

Market-product fit.

Those who have studied customer development know the term product-market fit. I suggest simple word permutation to help understand this term better. Let’s call it market-product fit. Our task becomes to find an existing hole in the market for which we need to come up with a product. I advise you to study people’s behavior. 

What should you study? What do they do, although they might not like it? What do they not do, although they could do? What are they trying to do, but they fail? How can they do things that they often do faster or cheaper? What do people do that annoy them, but they do it anyway? What are people starting to do now what they did not do before?

Any obvious answer to such questions is likely to give a simple and incorrect answer. The challenge is to find a new way to answer these questions. With “new” I mean that we need to make significant use of the changes that are taking place now in the market and technology space.

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