according to entrepreneur and investor marc andreesen, who is often credited with developing the concept, product-market fit means finding a good market with a product capable of satisfying that market. alex schultz, facebook’s vp of growth, says the biggest problem he sees facing the companies he advises is that they don’t have product-market fit when they think they do. why does andreesen, in fact, believe in the division of every startup’s life into two key stages: before product-market fit (bpmf) and after product-market fit (apmf)? those initiatives could even be counterproductive, in fact, if you haven’t first determined that your product has enough of a market to sustain itself and generate a profit.
in reality, achieving it is a shared responsibility across the company. sales, business development, support, finance, and all other departments help the company reach this important milestone. but andrew chen, a venture capitalist, offers some signals that a company is heading in the right direction with its offering: chen’s signals represent a mix of both qualitative and quantitative metrics. for example: just as the best way to measure product-market fit will differ for each company, there is no single path to achieving it.
according to marc andreessen, an influential american entrepreneur, who runs the infamous venture capital firm, andreessen horowitz: well, because finding product-market fit means that a startup business found the way to add value to a set of customers and is now ready to scale, to grow. first, you have to find a product-market fit — then, you can test the scale potential of your startup business, and then seek growth. it is a metric that measures customer satisfaction and helps you understand how close you close you are in satisfying your customers or users.
well, because if users keep coming back to use the product, then it means that they find value in it and if they were to answer the question: the product usage interval is the frequency (e.g., daily, weekly or monthly) with which you expect people to use your product. product usage interval is a reliable indicator of finding pmf, and i strongly recommend that you use it when conducting your analysis. if you take a close look at the case studies and the data, you will see that many customers take value out of the platform.
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