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.
Here is the link to the previous set of slides.
For MIT alums 0-15 years out, in the Boston area, we’d welcome you to join in on our monthly meetings at the MIT Sloan Entrepreneurs Breakfast Club.
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Great stuff Rishi
Great Product-Market Fit matrix! I reckon that strong/strong could be upper-right though:-) You might also want to see the Product-Market Fit diagram: http://bit.ly/bqHICZ
Thanks! Agreed, the strong / strong being in the bottom left is confusing. I was trying to illustrate not so much desirability, but reality for most start-ups. I’m planning an update to that presentation based on a lot of feedback in the coming weeks. SO, let me know if you have any other ideas.