Maintaining Product/Market Fit Over Time
I know, this is kinda ridiculous. Just for argument’s sake though, let’s pretend that you’ve got your act down — you built your product it’s actually selling, and you’ve got $$$. You’ve achieved that elusive Product/Market Fit , where the thing you’re building is the thing that people want, and are willing to pay for. Product/Market Fit Evolves The issue with having achieved Product/Market Fit is that things change. People might be willing to pay for your widget today, but will that be true tomorrow ? After all, • Competition might bring other players into the market, who could sell the same thing for less. After all, they’ve already seen what works, don’t need to recoup R&D like you did, etc. • Customer needs evolve , heck, you might be the one that’s causing them to ask for more! Are you prepared to satisfy those needs? There are other reasons why what works today might not work tomorrow (market gets tapped out, regulatory changes, etc.). The point ...