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Treating Product/Market Fit as the first significant milestone of a startup makes sense for VCs. However, it does not make much sense for startup founders because it is too far into the future to be actionable. This is why the early-stage journey is often depicted as a wavy squiggle of aimless wandering and is commonly viewed as high-risk or unstructured. But it doesn’t have to be this way. With the right mindsets and thinking processes, it is possible to turn this wavy squiggle into a more systematic and structured process. In last week's newsletter, I outlined such a process using my 3 Rings Framework.
Anand Morab
1mo
Great insights! I'd like to add that early-stage founders can benefit immensely from adopting a hypothesis-driven approach. By continuously testing and validating assumptions about their market, product, and customers, they can reduce uncertainty and make more informed decisions. Additionally, leveraging data analytics early on can provide actionable insights that guide strategic pivots and iterations. It's also crucial to build a strong network of mentors and advisors who can offer guidance and support throughout the journey. This structured approach can transform the perceived chaos of early-stage development into a more predictable and manageable process.
Malcolm Lewis
1mo
Great insight. VCs want to de-risk their investments as much as possible. Anything prior to PMF is too risky for them unless the founding team has an exceptional track record that offsets the risk associated with pre-PMF startups. But for founders, problem-solution fit is a mandatory pre-requisite for PMF. You have to do it, just don’t ask VCs to fund it.
Paul Raiche
1mo
75 years old ~ ~ ~ ~ > still wiggling our way, but in a rather stable environment. Start-up: You think you have a product, only to realize you have something of value that still needs to be positioned, with a morphing value-proposition - you are figuring out how to create more value & how to charge for that value.
Praveen Singh V
1mo
I am suggesting Problem-Solution Fit or PSF
Founder at BEFFICIENZ Ltd | Driving Hospitality Business Growth | Process Intelligence, Systems and Data Expertise
1moGreat model Ash Maurya, when starting my company I adopted this approach, although without a clear framework. I focused for about 4 month on my business model. When I signed my first client, I actually decided to slow down and refined my business model, shifting from product and business model to clients prpblems. This allowed to justify traction, and define a clear niche market... What a great approach.