PROBLEM FIT or MARKET FIT?

4 Top advice from a global brand strategy expert with proven results!

 

PROPOSITION

The biggest mistake that most businesses without strategy background make, is to search a DIRECT 'problem fit' to the business idea context - which most of the time not a real problem of need, or in the worst case - with many similar businesses that already competing on the same territory with different means. The top strategy advisors know that if you want to maximize demand - you need to FISH WHERE THE FISH ARE. The meaning is that you first need to map demand markets that can fit directly or indirectly for your business idea - and only then, to prioritize the best problem (demand) fit. 

For example, if you take an innovative photo editing software and seek a problem fit- you will find opportunity in the photography market - because there is a need for innovative editing solutions. But, if you will scout first for direct and indirect market fits, you will also discover MAC extensions software market with completely different problem fit - because there is a different need for easy-to-use professional editing craft solutions. 

 

Same business idea, completely different business opportunities. For the founders of the photo editing software, this discovery helped them identify 3 time’s bigger opportunities for demand!

PERSONA

A big mistake many businesses make is believing that all you need to do is identifying a particular problem that the user may have. User education is a challenge that requires the user to ACTIVELY change existing habits and therefore can take a lot of time and resources. Avoid user education in any way possible! Instead, map all potential users and score the highest match between your value and the user CURRENT behavior by identifying their habits decision making. 

 

For example, the percentage demand scenario for photographers is 1.5%-30% and for MAC computer's user is 40%-100%. 

For the founders of the air purifier product, this discovery helped them modify a better match to a 6 time’s bigger opportunity for demand! and raise an initial fund of 1,200,000$!


PERCEPTION

98.5% of startups have to modify their product or service, to find new ways of using their product, or to change the pricing strategy. Why not avoid that in the strategy stage and sharpen your value? 

 

Challenge your business idea match by scoring the level of impact on each market proposition you identified.

First, you will view your business idea concept from market perception and not around.

Second, it will help gain control over the score outcome- what your business product ‘can do's’ that can improve a match? 

 

For example, if you take an innovative air purifier product, it’s value will be different for different markets.

Choosing the air purifier market will focus on the value of air quality.

Choosing the smart automation market will focus on the value of safety by identifying air quality.

 

For the founders of the air purifier product, this discovery helped them modify a better match to a 6 time’s bigger opportunity for demand! and raise an initial fund of 1,200,000$!

PLATFORM

The same goes here. You want to be where your user is and not invest effort and resources to bring the user to you. Location, location, location. Don’t be everywhere- score the highest feasibility platform to distinguish- and own it in your marketing plan! 

AUTHOR


Rinat Keinan

Senior Marketing Manager, Author, Entrepreneur, and Founder at The PIPELINE Tools. 

Rinat Keinan holds an M.Des in industrial design and has 12 years of experience in the field as a Marketing Manager for global leading brands with high achievement awards for business & strategy success, in various marketing positions.

Her pipeline guide was highly evaluated by a worldwide leading feminine 1 million entrepreneurs organization as “essential read for the idea generators- wanting to transform their idea into reality”

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