by Sequoia
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According to Sequoia, there are three distinct archetypes of product-market fit (PMF). Here's what they are about. Find the one that relates best to your business and see where you should focus.
The problem you are solving : clear and urgent for customers
Demand : is obvious
Competition : crowded, looking for market share
Customer behavior : likely comparing existing products to solve it
You should : rise above the noise & deliver the best-in-class solution (not merely better, it can just be faster or cheaper) with a differentiated customer experience to have a durable advantage
The problem you are solving : universally accepted as a hard fact of life
Demand : customers have resigned themselves to just living with the problem
Competition : low
Customer behavior : not urgently engaged with trying to solve it
You should : overcome the challenge of the force of habit, convince a customer to change current behaviors āYou need an approach thatās novel enough, for a problem that matters enough, to be worth making a changeā
The problem you are solving : enabling a new reality through visionary innovation
Demand : sounds like science fiction (ābecause the concept is familiar but sounds impossible, like abundant cheap energy from nuclear fusion, or because no one ever imagined it, like the iPhoneā).
Competition : non-existent
Customer behavior : not trying to solve the problem
You should : find the right route with the right commercial opportunities
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