Product-Market Fit in Business Strategy?

[moonchild]

Business is about testing out things to find the one that sticks, it's like a scientific experiment where you first have a hypothesis and test to find out if it's true or not, when you're starting out in business, it's important to start small, so that you'll be able to test different strategies and find out which one brings in the biggest returns.

A Product Market fit, is a stage in your business where your product have reached a level where it syncs with the market, and you've started seeing adoption, it's important to reach this particular stage before any scale is applied to a business.

Where are you currently in your business? If you're not at Product Market fit, how can you get there faster?

 

[Etini]

I agree in totality with the original poster and I have seen how this has played out practically in the poultry industry I operate in. People are just hearing of the profitability in poultry business and would just buy birds and rear without caring to find out how the market wants the product. They end up making losses because they don't produce according to what the market would adopt.

In other way round, you could align with established players in the industry to ascertain and learn what the industry truly wants. Even with that, you would have to start small to learn the ropes. You could even create your own market through that test running process.