A relatively young term in an entrepreneur’s vocabulary is “product-market fit” (PMF). Attributed to Marc Andreessen in 2009, this term, has a relatively simple meaning but one that’s hard to really get a sense of:
Product/market fit means being in a good market with a product that can satisfy that market.
If you go after an awesome market – growing fast, has excellent demand and a great growth curve, then you’ve got 90% product-market fit, even though technically 50% of the challenge in any startup is coming up with a good product.
Lets assume you are going after a great market.
How do you know its a great market? Besides the fact that its large (obvious) the speed of adoption is tremendous.
