Most people only love a handful of the products they use. To develop things that people truly want to buy, you have to focus on finding the right product-market fit.
Too often, people focus on one or the other: product or market. You neglect one at your peril. Finding a good product-market fit means having both the right market and the perfect product or service to satisfy it.
Start from the outside in by finding a target customer group and truly understanding their needs. A lot of companies develop their offerings from the inside out, building a product and then figuring out how to market it to customers. By starting with the customers’ needs, you’ll be better positioned to solve their problems.
As you find your value proposition, zero in on the solution that you’re providing. Equally, be clear about what you’re not providing. Learn more about creating value with our Instaread on The Lean Product Playbook.