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Have you heard of product market fit?
It's the idea that a product or service must meet the needs of a specific market to be successful. But what about profit market fit? @sajithpai explains this concept in his conversation with Vasanth Kamath, founder of @smallcaseHQ.
It's the idea that a product or service must meet the needs of a specific market to be successful. But what about profit market fit? @sajithpai explains this concept in his conversation with Vasanth Kamath, founder of @smallcaseHQ.
Profit market fit is the intersection of the market's needs and the company's ability to make a profit.
It's not enough for a product or service to simply meet a need; it must also be financially viable too.
It's not enough for a product or service to simply meet a need; it must also be financially viable too.
Kamath shares an example of how Smallcase.
They initially offered their service for free, but found that customers who were willing to pay for the service were more likely to stick around and use it regularly.
They initially offered their service for free, but found that customers who were willing to pay for the service were more likely to stick around and use it regularly.
