If you’re developing new products you’ve probably heard about product/market fit.
Some of the definitions for product/market fit are a bit abstract. You have product/market fit when your product is selling like hotcakes. Or, when you have have six reference customers. Hmmm...
In his book, Running Lean, Ash Maurya provides some tools for identifying product/market fit or “traction" as he calls it. He tells us about the Sean Ellis Test as developed by Sean Ellis. The test is a survey with this key questions.
How would you feel if you could no longer use [product name]?
1. Very disappointed
2. Somewhat disappointed
3. Not disappointed
4. N/A - I no longer use it
Ash provides his criteria for achieving product/market fit and when you can focus on scaling.
What are the early traction exit criteria?
- Retain 40% of your users
- Pass the Sean Ellis Test
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