Discover how to find your product market fit.

There is an infinite supply of ideas, but few great ideas.

What makes a good idea into a great idea?

And what makes a great idea into an actual business?

I discuss product market fit and how it pertains to your idea, as well as how to go about finding your product market fit.

let's talk about a product market fit for your offering this is to gain the confidence you have in yourself and your business that your audience actually wants and will pay what you're offering a product market fit also helps you identify the features you need to build the audience that's likely to care and the business model required to entice customers to buy your product or your service so this is really that the moment that a startup or your brand your business starts to find more widespread customers that really resonate with what you're offering and the key here is that this is a product market fit not a problem solution fit meaning that your product fits within the marketplace which is the market being that of your audience or potential audience a problem solution fit is when you're identifying more message messaging related items like what is a problem that exists with the customer base i want to serve and what is the solution i can create for them after you create that solution then that product idea out of that solution becomes that product and then fitting within the market so they are similar yet different and so when you want to identify whether your product fits in your market before you go and put all their time and money resources into building out this new product or service idea you want to first identify who the audience actually is this is business 101 identifying who you're going to serve and making sure that there's a lot of similarities that exist among these types of people that a lot of them have have similar ambitions dreams and then they have similar nightmares and pains and problems as well and so when you can pinpoint a specific type of audience that you like to serve and that you really align with personally and professionally as well meaning you love to show up and serve them every day then that becomes your audience as you know what this pool of audience looks like then within that identify what a problem is that they're experiencing oftentimes they will tell you directly or you'll have to do some research and really define what that looks like and so as you figure out what this problem is that exists let's say it's a lack of visibility their marketing is not working to help them get more sales and to grow their business that is a real problem that exists for online business owners which is speaking a little bit more to my own product market fit uh for for my business so seeing that they need marketing to work their content their messaging to work you then want to define what the solution is in your unique value or selling proposition how will you propose to them that what you offer as a solution is exactly what they need to solve that problem and keep in mind the more that you show your understanding of the problem that your audience is experiencing the more that they'll see you have see that you have the solution so make sure you speak about the problem inside of your content and your messaging so as you define the problem or yeah identify the problem define the solution and start to clarify your messaging further to know how to talk about what you do and why then you can start to test the solution by way of putting together a product concept or what many call a hypothesis in one to maybe three sentences describe what the problem is what the solution is that you're offering and then how the experience with your product your solution will make your audience's life better so you're basically packaging up numbers one through three in this process from the audience to the problem to the solution and your unique value proposition into a one to three sentence statement that when you share it with potential customers and this audience base they will let you know whether it resonates with them or not and part of the way that they'll let you know is that you can make a sell you can make cells because you're testing the product and you're seeing if someone will buy oftentimes when there's no product market fit in this process it usually comes at the point that people are not following these steps they're usually building the product first thinking that their audience if they even have identified one act wants this and needs this your market your audience will tell you whether they need the solution that you're providing by way of your product so you want to validate this product concept and hypothesis or the message behind it what's that one message you can share that immediately identifies that audience that problem that solution and the unique value proposition and in doing that and when people say yes i want to buy or maybe they will join a waitlist they put their name and email in or they literally buy a pre-sell of a product or service that may not be built yet or it may not be ready to fulfill yet however you've proven that people want to pay for it so the here becomes the value the validation that you have discovered a product market fit this is where you create the minimum viable product or service your mvp and that comes in the form of making sure you have a clear system to deliver this product if it's a physical product you actually want it created or even a digital product you want it created in the the concept or the physical form meaning there's a promise date of delivery when they will receive it in their hands or their digital hands so as you create this product and continue to test it out this minimum viable product then you can take it to market first you want to definitely hit some milestones i recommend ten thousand dollars a month with this one product that people are paying for with organic traffic meaning you're not paying for any paid advertising or you're not buying any ads anywhere and people are happy and excited to buy it regardless of if you're selling it to five or selling it to 5 000 which can happen when you really expand and get inside of the market in a mass way so this all comes back though to the simple process of validating a product whether people want to buy it or not and this is what we call product market fit does your product or service fit perfectly inside of the market or the audience that you're serving inside of this market by the way i mentioned the audience this audience also within this market you got audience you got your competitors who may have similar products or services to you you've got other opportunities to do research and to discover truly what is that problem what is that solution and how can i validate this as quickly as possible with my first paying clients whether it is a more affordable product on a price range say of one dollar to 100 or maybe it is more of a premium product where you get beyond 100 to the thousands based on what you're offering your business type so consider that as you go to build out your product plan and your marketing materials is that before you get into all these other pieces you want to first test whether people will pay for your product so again that is the product market fit you

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