Memecast #16: Using Price to Solve Product-Market Fit

Using price to solve product-market fit is like changing gravity to lose weight.  Product Market Fit is one of those things that we hear often, especially as we're going to launch a brand new product.  We want to make sure that we understand what the market really needs, what problems we plan to solve.  And have we built a product that truly solves those that resonates with the marketplace. “Using price to solve product-market fit is like changing gravity to lose weight. “- Mark Stiving And this is something that we have to try to figure out as a business. And yet, sometimes companies say, ‘Well if I just lower the price, I'll be able to sell more.’ And that's absolutely a true statement. Probably you'll sell more if you lower the price. But that doesn't say that you've achieved product-market fit. I compare this a lot to losing weight.  I know that I need to eat less, I know that I need to exercise more. But you know, if only I could change how strong gravity was I'd weigh a lot less. And it would take me much less work.  When we're after the product-market fit. Don't be thinking so hard about the price. Yes, the price is important. Yes, we're going to use the value we're delivering to our buyers in order to set that price.  But for right now, in the beginning, focus all of your efforts on what are the problems we're solving? What does the market really need? And have we built a product to go solve those.  We hope you enjoyed this podcast. If you see have any questions or feedback please email me [email protected].  Now go make an impact. Connect with Mark Stiving:  Email: [email protected] LinkedIn