Breaking Glass by Rishi Dean

Summary: Finding Product / Market Fit is the key for early stage products. The PMF Matrix is a framework to help you get there. E-mail. Tweet.
[UPDATE: This post was updated on July 5, 2010 with new slides]

This presentation centers on the concept of Product / Market Fit: what it is, why it’s important, and how to achieve it. I propose my “Product Market Fit Matrix” that helps to characterize the issues of the start-up and presents various frameworks that can help guide development. In a sense the Product / Market Fit Matrix is a meta-framework, which can be used to characterize your current situation, so that you can employ the right set of tools to achieve your goals.

I originally developed these slides to facilitate a discussion of entrepreneurial MIT alums, mainly from the MIT Sloan business school. My intention was to introduce many of the newer, leaner concepts of early stage start-up development, since MIT tends to see a lot of “technology-in-search-of-a-problem” start-ups, in their early stages.

After receiving a very positive reception, and lots of suggestions from many smart people, I’ve updated this presentation. The presentation below was developed for a talk called “The New Rules of Product Development” for MassChallenge.
See the presentation

With the Fall season upon us, we’re well into start-up conference season, with the big ones like DEMO and TechCrunch50 behind us, and the Web 2.0 Summit coming up this month. There is a lot of hype out there about the next big ideas, products, and companies…some of the organizers are even starting to believe their own hype as influencers of future success.

Well, I’ve got to admit, I’m downright fatigued from looking at the same kinds of ideas, over and over again, and the lazy approach to marketing and promotion from so many. For instance how many more companies do we need to see with no vowels in their names that have home pages that just display a pretty picture and the word “sign up”. I DON’T KNOW WHAT YOU DO OR WHY I NEED IT, SO I’M NOT GOING TO SIGN UP.

Too harsh? Maybe. Tough love? Yes. As a previous attendee at these conferences, I still think that they are great venues, but with a little careful planning you can cut through the clutter out there, by understanding the most tired, played out tactics and what you can do to stand out to build something of real value.
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