Assessing Product-Market Fit

How do you know if you are ready to start investing in growth or if you need to continue pushing toward Product-Market Fit? This quick 6-question diagnostic can help you decide if you need to continue refining your value proposition with experiments and customer-centric design, if you need to go back to the drawing board and further invest in ideation, or if you have achieved Product-Market Fit and are ready to push for growth.   

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Ideation

Ideation

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Yet to acquire a user? We suggest using GV’s five-day sprint methodology.

 

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Iterating

Iterating

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Have a product with at least one user? If yes, then you are searching for product-market fit, and our tool can help.

 

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Pivoting

Pivoting

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You may use our tool and find that you need to change your product. In that case, go back to ideation and start again (and again and again)!

 

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When you have achieved Product-Market Fit (PMF), it means you have: 

1.

Identified a problem that a sizeable group of people really needs solved

2.

A product that can be built to fully solve that problem

3.

A business model that can be executed to be profitable (at some point in time)

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“Product-Market Fit means being in a good market with a product that can satisfy that market.”

– Marc Andreessen

 

 

“Product-Market Fit is the moment when a startup finally finds a widespread set of customers that resonate with its product.”

– Eric Ries

Why is PMF so important?