While stats vary, there's a huge body of evidence which shows that a majority of startups fail-usually within the first year of their launch. Young startups often run into a number of problems such as lack of experience, capital crunch, lack of demand for their product, and cut-throat competition.
The first-order effect for most of these startups is not being able to find their product-market fit (PMF). It often is the first domino in a series of events that gets knocked over, eventually leading them to failure. The inverse is true, too-if a startup finds its PMF, it can help you overcome a majority of the above-mentioned problems.
In this post, we will cover:
How to achieve product market fit
The myths about PMF
How to prioritize product features
Steps to build products that your customers want