How to Achieve Product-Market Fit?
This is the single most important factor which decides the success or failure of any startup.
Getting this right is the most important step.
Your Startup has reached the Product-Market Fit when the customers are buying the product just as fast as you can make it or usage is growing as fast as you can more servers.
This definitely sounds like a Dream Goal of Every Business Out there and it all depends on Getting Product Market Fit Right, and it should be set right as soon as possible.
Now again there are many ways via which one can define this, but the one which I find most useful is this: Ask your user how would they feel if they no longer can use your Product.
Give them three options: a)Very Disappointed b) Somewhat Disappointed c) Not Disappointed
Now measure the people who answer “Very Disappointed”.
And if this number is above 40%, your Product has achieved, Product-Market Fit.
If you have to improve this number, focus on Group on People who answered “Very Disappointed”.
Learn More about them, use your marketing channels to acquire more similar users and gear your product features more towards them and you will see your Product-Market Fit metric moving