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A Summary of

10 Places to Find Product-Market Fit

by
Gigi Levy-Weiss
NfX
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Engagement and retention numbers reveal an early stage startup’s product-market fit (PMF), which is a critical determiner of sustainable growth. Once PMF is achieved, a startup can focus on fast growth instead of just survival. Here are ten specific places for founders to look for PMF. 1. Taking an existing activity and making it 10X easier: From a market standpoint you are already de-risked here. 2. Making an existing activity 10X better (& networked): Create defensibility through network effects. 3. Creating a new inventory to be sold in a marketplace: Unlock latent supply, as inventory can be created where assets are being under-utilized i.e. cars with Uber. 4. Discover new willingness to pay: Get people to pay for something they’d classify as “free”. 5. Connect a group of people that were not visibly connected before: Understand the emotional drivers of the target audience to differentiate from other social networks.   6. Give people a new or easier way to make money: Examples include Uber and Fiverr.  7. Turn something digital that isn’t digital: There are still a lot of manual processes in the B2B space. 8. Find a way to offer 0 pricing: Give users a product they’d rather want for zero price.  9. Create a young version of a proven product: Tweak a pre-existing product but for younger generations with different needs. 10. Find a new ‘pleasure center’ in the mind: Make your product fun and addicting.  When a user cannot live without a product because of the value it provides them, then there is good PMF.

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