Product/market fit is nothing more than having a product that satisfies the real need of the market you are in.
The main books that opened my mind about this were The $100 Startup and From Dream to Reality in 4 Steps (link to purchase at Saraiva) and I will explain why:
In the book The $100 Startup, the author addresses a simple process of identifying problems (called Customer Pain) to create solutions that can be turned into businesses. The process involves some basic steps of validating the problem, making the first sale, developing a website, finding a sales channel (in the book he suggests that you secure a way to get paid) and constantly learning to evolve. For those who are too lazy to read or just want to get an idea of the general concepts, I recommend listening to an episode of ResumoCast: https://www.resumocast.com.br/015-a-startup-de-100/
In the book From Dream to Reality in 4 Steps, the author presents a very clear yet not very obvious concept of how a company should be developed. Many entrepreneurs start their businesses focusing on developing a product to, when finished, launch it to the market and seek customers who are interested in it. Often, the consumer does not see enough value in the product/service and ends up not buying. That is when the entrepreneur dedicates even more time and money looking for the “right customers” but without success. The methodology proposed in 4 steps will increase, and a lot, the probability of success of your company, they are: 1 Customer Discovery, 2 Customer Validation, 3 Customer Development and 4 Building the company/product/service.
Reasons why startups fail
A startup is not a miniature of a large company
In general, we have the notion that the best management, sales, marketing, and technology practices should be applied to companies of any size. However, when you start a new business, the rules of the corporate world do not apply. Unlike large companies, startups need to find customers and prove that their vision makes sense in the market. If they fail to achieve this goal, the company does not evolve. Without resources to launch new products, test variations, and enter mass markets, startups need to follow a different path.
Start with 100 dollars
How much do you need to create a presentation, develop a website, a prototype, and launch to the market? For those who have already read the book Nada Easy by Tallis Gomes, they know that the company started with a website with a simple form, where customers would put their routes and the founders would call from their phone until they found a taxi for the customers. There was no investment in technology, nor a complex and expensive structure. Simply the idea was validated, the first customers were identified, and the business started to grow from there.
Find your customer's pain, create a solution, insist until you get the first sale, repeat and evolve. Did it work? Dive in headfirst and good luck! That is what we did here at Check Commerce.
