The definition of product/market fit has variation interpretations and models associated with it. Marc Andreessen defined the term as follows: “Product/market fit means being in a good market with a product that can satisfy that market.” Many people interpret product/market fit as creating a so called minimum viable product that addresses and solves a problem or need that exists.
The Mom Test: How to talk to customers & learn if your business is a good idea when everyone is lying to you
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- StartupA startup company is an entrepreneurial venture in the initial stage of its operations. Startups are typically young businesses aiming to grow quickly and meet a marketplace need by developing or offering an innovative product, process or service.
- CompanyA company, abbreviated 'co.', is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise.
- Lean StartupLean startup is a methodology for developing businesses and products.