Product/Market Fit is when an offering fills an obvious need for a set of customers so well that demand takes off and a company shifts from market development mode to ramping up production and fulfillment. Finding that fit is every startup’s greatest challenge.
Strategies are often simple in concept, but executing them is usually very complicated. There are many issues to consider among customers, competitors, regulators and other stakeholders. Trial and error is usually not a good strategy, but is probably the most frequently tried.
There are many ways that startups trip themselves up when talking to investors. Part of the problem is a language barrier. Investors may not understand technical issues and engineers may not be familiar with investor jargon, and this is just one of many challenges.
Everyone would like to think that they are a good negotiator. Company founders face some of the most important negotiations of their lives with investors, customers, suppliers, etc. It is a good idea to get some guidance from someone who can help founders make informed decisions.
Product – Place – Price – Promotion
Pricing is complex and can be confusing, but some useful guidelines can help simplify the task. Avoid the common mistakes that can sink a startup.