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Product-market fit for lean startups

InternetInternet · 10h
Product-market fit for lean startups

- Product-Market Fit (PMF): Essential for startup success; defined as efficiently satisfying market needs. - Lean Startup Methodology: Focuses on minimizing risk and waste through customer feedback and iterative development. - Key Steps to Achieve PMF: 1. Define Target Market: Understand demographics and psychographics. 2. Identify Underserved Needs: Conduct research to find market gaps. 3. Develop Value Proposition: Clearly articulate benefits and differentiators. 4. Create Minimum Viable Product (MVP): Build a simple version to gather feedback. 5. Engage Target Market: Launch MVP and collect user insights. 6. Iterate and Improve: Adjust based on feedback for better alignment. 7. Measure Success: Use KPIs to track progress and inform growth strategies.

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