From the course: Data-Driven Product Management

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Early product: Finding product-market fit

Early product: Finding product-market fit

From the course: Data-Driven Product Management

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Early product: Finding product-market fit

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- [Instructor] The early days of building software products is all about finding product market fit. That's the moment when your product meets the market, such as you are solving a problem customers are willing to pay to have solved. This phase is tricky because you don't necessarily know your users very well. You don't have many of them to draw conclusions, and you usually don't have a big enough team to take a lot of time to collect and analyze the data. The key to a good strategy is to use what data you can get. The Lean Startup methodology, based on a book by Eric Ries has a very simple flyway to go on in this phase: build, measure, learn. You make something, measure how it works, then figure out if it works or doesn't, and either go deeper if it does, or pivot if it doesn't. It's very simple, but you'd be surprised how many teams spend too much time building, don't measure it well and aren't able to learn and progress. Part of this methodology is about getting something out fast…

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