A Quote by Sam Altman
Before product/market fit, your only job that matters is to build a great product.
Related Quotes
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
My definition of product-market fit is you are drowning in demand - your product is being used by so many customers that you cannot handle all the new people knocking at your door!
I don't understand how you can have product-market fit and not a lot of people wanting your product. The two go hand-in-hand.
I've always believed that the best way you combat intellectual property theft is making a product available that is well priced, well timed to market, whether it's a movie product, TV product, music product, even theme-park product.
I think, when I see entrepreneurs, they tend to talk about the market and the industry - which is obviously very important, but the most important thing is you're product. What are you selling? And does it really have product-market fit?
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
It can't be that difficult to build a great thermostat. So I decided to figure out: What would the thermostat for the iPhone generation look like? I got this bug. It really infected my brain. I kept thinking about it. This could be a cool product that matters and a cool product that has a great business.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
you're a product just as much. a product of a product. the people who design cars, they're products, your teachers, products. the minister in your church, another product.
Never expect that your startup can cover every aspect of the market. The key is knowing what segment will respond to your unique offering. Who your product appeals to is just as important as the product itself.
The worst thing that you can do in terms of bringing a product up to the market is to be two days after someone else has brought a similar product to the international market-It's dead.
A successful branding program is based on the concept of singularity. It creates in the mind of the prospect the perception that there is no product on the market quite like your product.
Marketing implies that you want a public to relate to your product - if it's a product - in a way that makes them want to use it. That is only good or evil in relationship to what the product actually does.
Launching a successful product or startup has little to do with luck. Any business that gains traction on the market is the result of very careful strategizing and market analysis, not to mention the development of an original product or service.
A great product will survive all abuse. Google Glass is a great product. How do I know? Every person I put it on (I did it dozens of times at 500 Startups yesterday) smiles. No other product has done that since the iPod.
I've been told I miss every pass made at me! It would be wonderful to have a partner, but in my mind, it has to be like making a product. The product has to be meaningful, impact people - it has to be a great product.
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