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What is product-market fit?

While the term “product-market fit” gets thrown around a lot in the startup world, it’s not always very well understood. In fact, we can’t even agree on who created it! Some people say that the concept of product-market fit was first developed and named by entrepreneur and investor Andy Rachleff. Others give credit to famed investor Marc Andreessen, who at the very least popularized term product-market fit when he wrote about in a 2007 blog post. He said, “Product-market fit means being in a good market with a product that can satisfy that market.”

In other words: You could have an amazing, sophisticated, well-thought out idea — and people just don’t get it. (Think: That first focus group for Pied Piper on HBO’s ...

The investor pitch. It's feared. It's desired. It's terrifying.

But don't worry: We've got you covered. Here's everything you need to know about that all-important investor pitch.

What should your investor pitch include?

Invisu.me Co-Founder and CEO Donna Griffit is a master pitcher who has helped countless founders distill their pitch down to exactly what they need — and nothing they don’t. She had the opportunity to sit in on a private pitching event where a delegation of startups had the opportunity give a five minute pitch and receive direct feedback from a group of top-tier Silicon Valley VC’s. (So top tier that she can’t even say who was there but, trust us, you will want to memorize this section before your next pitch.)

Here’s what ...

What is product design?

Product design/a> is the entire process of taking a product from idea to customers — and everything in between.

“There’s a widespread misconception that design is all about aesthetics,” product designer Eric Eriksson [writes](https://uxdesign.cc/what-is-product-design-d95cd5339f5c). “Most people don’t seem to understand that it’s about solving problems instead.”

There’s another, more limited, definition of product design which we’re not going to explore in detail here. But basically, that other definition is talking just about how a product looks and functions. For the sake of product design for startups, we’re focusing on the more holistic, process-oriented definition.

What’s the difference between product design a...

Question: What is one part of starting up that was easier than you anticipated?

Finding a Support Network

“A support network of other entrepreneurs will make any journey a lot more enjoyable—and a lot easier, too! By joining key networking groups, like YEC, and moving into a co-working space, building a support group of like-minded entrepreneurs after starting ZinePak was easier than I would have imagined. I never expected to make so many close friends so quickly!”

— Brittany Hodak
ZinePak
@brittanyhodak

Forming the Business Entity

“What I initially believed would be the most difficult part about starting a business for myself, which I would say is the process of coming up with and registering a name, filling out the proper paperwork, and c...

Today’s Favorite Find: Polymail

Elevator Pitch

Polymail is “the most powerful platform for email productivity in a beautiful native app — on desktop and mobile.”

Why We Love It

Look, no one really likes email. In fact, people’s avid dislike of email has brought us everything from Slack to multiple apps trying to fix the problem that is email. And perhaps no one hates email more than startup founders, who spend even more time than the average Joe glued to their email inboxes.

And while I’ve written about quite a few solutions to the email problem over the years, I have to say that it looks like Polymail has finally, actually solved email. They’re still in closed alpha, but, from all reports, this is the email app we’ve been waiting for.

Ok...

Question: What unrelated hobby has taught you the most about business?

Marathon Running

“Running involves discipline and a lot of hard work. You can’t fake it when it comes to finishing 26.2 miles. You definitely get out of it what you put in. Not only does it involve physical toughness, but a considerable amount of mental strength and focus as well. Comparisons can be drawn to business when it comes to knowing your capabilities, working hard, using your wits and not giving up.”

— Michael Quinn
Yellow Bridge Interactive
@ybinteractive

Poker

“Poker is a game of incomplete information. You know what cards you have but are making educated guesses and playing odds based on your opponent’s cards. Business is similar. You can collect data all day...

80% of Resolutions Fall Short in the First QuarteR

Usually, after the third month of the year your crisp new running gear and fitbit has been designated to the back of the closet as a guilty reminder, and you are counting your steps to the subway station as your day’s exercise. You are not the only one. In fact, according to U.S. News, nearly 80% of resolutions fall short by the second week of February

While Millennials are better than their parent’s generation at sticking to new year’s resolutions, their frantic work and social lives make it hard to stick to plans on the long term. Millennials are ‘experience motivated’ and take up new hobbies and regimes with great intentions, but according to Statistic Brain only 8% achieve their resolut...

More often than not, financing gets a bad rap. Sure, Apple can mark up a product as high as it wants, and McDonald’s can increase the price of hamburgers, but when the product is money, customers and merchants start to question the ethics behind the markup.

Yet financing these markups has the power to make a positive impact on both the economy and your business. Companies that can overlook the negative stigma and provide financing options will create a viable business model and attract long-term customers from a variety of backgrounds. Here’s why:

Financing Makes Economic Sense

To understand how financing impacts the economy, let’s take a look at the United States’ savings rate over the past five decades. Trading Economics reports that pers...

When you’re launching a travel business, there are many “what ifs” and “what nows” — especially if you’re a rookie. It’s almost too easy to get caught up in the excitement. Whether you’re trying to build out too many related products before perfecting your core business, struggling to gauge the strength of a potential partnership, or micromanaging your staff, it might be a good idea to take a step back and gain a little perspective from the pros.

After all, those pros started out where you are now, and many are willing and eager to help others get on their feet. So don’t be afraid to reach out within the tight-knit entrepreneurial community to seek advice because almost nothing is more valuable than help from someone who has been in the tre...

So, you’ve got an idea for a new web-based business venture and you’re looking to get started on product development.

You don’t know a lot about the direction you’re going to take when building your product or what to do when it comes to market validation. But, you think your idea is a good one. After all, you’ve got some early anecdotal feedback reassuring you of this.

Before you approach investors, focus on building out and maturing your web-based business idea—which can be faster and cheaper than you’d think.

This is the exact situation we found ourselves in with The Audio Hunt around 2 years ago. We adopted the Lean Startup methodology and utilized SEBLOD—A web application builder for Joomla!—as our platform of choice to build and launc...