Proving Your Product Concept
The first step to achieving product-market fit is to actually prove that your product is something customers want to buy. Sounds simple, but until you get your first few sales, you won’t be able to get feedback, which limits your ability to know how you’re doing or what changes you can make to improve.
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Product-market fit doesn’t always mean that every collection you release sells out in seconds. But it does mean that people find out about your store by word of mouth, or that you have a steady stream of customers and sales, or that your product solves a problem within a larger, lucrative market. Let us find out what product-market fit is, how to prove your product concept, and how to use marketing and customer feedback to find it.
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The Sherlock Holmes approach
Approaching your market, customers and competitors like Sherlock Holmes will give you significantly better chances of achieving product-market fit.
You will approach your product idea with great curiosity and wonder, and investigate all signals as part of a bigger puzzle. ...
Talking to your customers
You need to continuously get feedback from existing customers and improve your product. It is equally important to talk to people who were your customers in the past and understand what turned them away.
2. Product-Market Fit
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
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