Pedro Arantes
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Product/Market Fit

Product/market fit (PMF) means being in a good market with a product that can satisfy that market.
#andy-rachleff
Zettelkasten, April 02, 2021
## Notes - It was coined by Marc Andreesen in the post [Part 4: The only thing that matters](https://pmarchive.com/guide_to_startups_part4.html). - _"Product/market fit (PMF) means being in a good market with a product that can satisfy that market."_ - Every company must find its PMF before scaling or sniffing around for venture money. - PMF is the absolute prerequisite to sustainable growth. - Andy Rachleff says that the value hypothesis, or PMF, is an assumption that brings together: - **company**: what is the product or service; - **market**: which are the audience or customers that are likely to care about your product; - **business model**: how the company will offer the products to the customers who will buy them. - You can find the PMF by: - changing your customers (market pivot); - changing your product. - Finding the PMF is not a discrete process. Instead, it requires many iterations and consistency. - _You can always feel when PMF is happening_. - You're selling your products just as fast as you can make it. - Customers are paying for your product. - You're hiring sales and customer support staff. - _You can always feel when PMF isn't happening_. - Your cycle sales are too long. - Customers aren't getting value out of the product. - A lot of deals never close. - The reviews are negative or neutral. ## Questions - How do you find your PMF? - Is there a universal process that fits any startup looking for its PMF? ## References - [Marc Andreesen. Part 4: The only thing that matters](https://pmarchive.com/guide_to_startups_part4.html) - [Tren Griffin. 12 Things about Product-Market Fit](https://a16z.com/2017/02/18/12-things-about-product-market-fit/) - [Eric Jorgenson. Product/Market Fit: What it really means, How to Measure it, and Where to find it](https://medium.com/evergreen-business-weekly/product-market-fit-what-it-really-means-how-to-measure-it-and-where-to-find-it-70e746be907b) ## Backlinks - [Venture Backable Business](/zettel/venture-backable-business)
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