A Quote by Payal Kadakia

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?
Now we understand that the most important thing we do is market the product. We've come around to saying that Nike is a marketing-oriented company, and the product is our most important marketing tool.
In my view, product/market fit is the most important thing to get right as a startup entrepreneur. There's a variety of ways to do it, but without solving some pain point that the customer gets so excited about they tell their friends, it's really hard in the modern age to get any liftoff.
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.
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.
Before product/market fit, your only job that matters is to build a great product.
The mistake managers often make is defining their industry too narrowly. Digital's market share in the minicomputer market stayed very robust even as it fell off the cliff. Disruption seems to come out of nowhere, but if you know what to look for, you can spot important developments well before the market does.
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.
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.
Selling is the most important skill as an entrepreneur. I'm not talking so much about selling a product so much as selling yourself, team, and deals.
Designing a product and understanding how it filters through into the market and into the rest of the company is very important to me.
Most businesses think that product is the most important thing, but without great leadership, mission and a team that deliver results at a high level, even the best product won't make a company successful.
We think of the Techstars product as not really the accelerator but the network. That's what entrepreneurs should be valuing here. I think it's the most undervalued thing that many entrepreneurs don't get.
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.
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.
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!
First figure out your partners, then figure out what ideas to pursue. The most important thing isn't the market you target, the product you develop or the financing, but the founding team.
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