In a great market -- a market with lots of real potential customers -- the market pulls product out of the startup.

Conversely, in a terrible market, you can have the best product in the world and an absolutely killer team, and it doesn't matter -- you're going to fail.

The #1 company-killer is lack of market.

Andy puts it this way:

  • When a great team meets a lousy market, market wins.

  • When a lousy team meets a great market, market wins.

  • When a great team meets a great market, something special happens.

to quote Tim Shephard: "A great team is a team that will always beat a mediocre team, given the same market and product."

Product/market fit means being in a good market with a product that can satisfy that market.

Do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don't want to, telling customers yes when you don't want to, raising that fourth round of highly dilutive venture capital -- whatever is required.

When you get right down to it, you can ignore almost everything else.

https://pmarchive.com/guide_to_startups_part4.html

 
cody romness