What is product market fit?
Hi everyone. Jan 1st, after two months developing an MVP, I opened my app to beta users. We've had just under 100 people register and use it, and about half of them offer feedback (praise and criticism).
The praise was great but the constructive criticism is was stuck with me. Of those, a handful said it was good but didn't do all this they expected it too. At its present level, the software makes life easier for the user but doesn't solve an absolutely burning problem. Adding the features the handful of users expected would mean I could definitely charge a decent fee for its use, but will take a lot of work.
Is this what it means to not have product market fit? What does product market fit mean?
Any insight would be great, thank you.
Congrats on building something and getting it in front of users. I agree, there isn't product market fit. At least, not yet.
It's common to dwell on the negative but I'd focus on the users that gave positive feedback and press them to see how you can solve their problem better. Find out what part of the problem your product isn't solving. That could help to find product market fit.
An mvp can be done in a weekend but building a business takes much more time. So start with user pain points rather than their feature wish list. You don't want to be building things only a few people think that they want. See where it goes but definitely charge a fee on the way.
Here is a link to videos on product market fit by partners at Y Combinator:
https://youtu.be/0LNQxT9LvM0
https://youtu.be/FBOLk9s9Ci4
Cheers @owenvonlanga, thats actually incredibly supportive. What you say resonantes a lot with the first video you posted a link to, in that determine the end goal of your users and figure out how you can improve how they get there - don't just focus on the particular problem they're having with what you've built.
They are great videos, thank you for linking to them - onwards and upwards.