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It lasts for many years. Question for entry-level startups: How does one find product marketing (PMF)? What do you do to ensure that your idea meets the needs of your target market? How do you get your ideas heard in the world?
At TechCrunch’s Early Stage event in Boston a few weeks ago, David Tucker, general partner at Greylock, advised startups to keep it simple: focus, adjust and adapt.
The definition of PMF is, for the most part, subjective, but Tucker wants something more concrete.
“It’s not like you bring a product and grow it to millions of customers and users,” he said. “What I’m looking for is that what you build seems to resonate with a set of customers.”
This measure can vary by stage, but Series A and beyond is when it’s critical for a company to have a PMF. At that stage, Tucker says, investors want to see modest consumer adoption, and when a company is looking at a Series B round, it’s a good idea to start thinking about total reachable market size (TAM) and where your product is positioned. is it.
“You may have found a product-market fit with a segment of the audience, but how big is that audience? How profitable will it be when it expands? These are the things we start thinking about,” he said, urging the founders to determine their company’s PMF with a measure that is consistent with the company’s values.
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