RESOURCES
to get you started
Refining Product-Market Fit:
Michael Seibel of Y Combinator describes Product-Market Fit as the moment when a product experiences overwhelming demand, making it challenging to keep up with customer needs.
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Achieving Product-Market Fit means that your product is not just meeting, but excelling at fulfilling the specific needs of your target market. It’s a key indicator that your product is solving the right problems for the right consumers.
Here are four distinct areas with a list of questions each for you to identify where you are in your product-market fit journey:
1. Understanding the Consumer Problem
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What problem does your product solve?
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How confident are you in the problem’s significance and size?
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Are you solving a problem which is common or a big pain-point for a few consumers?
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Do you have research or data to corroborate your hypothesis?
2. Defining Your Target Audience and Core Competition
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Do you understand the demographics as well as the psychographic make-up of your target audience?
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Do you have detailed consumer personas for your audience?
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Do you understand your audience’s current purchasing behavior?
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Which are some other products or solutions that may solve the same problem partially?
3. Product Development & Market Positioning
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Do you have a working proto-type or are you already seeing some initial sales?
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What is your product differentiation strategy?
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Which of the 4Ps (Product features, Pricing, Go-to-Market) are you more strongly leaning on?
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Is your value proposition clear to your target audience?
4. Growth Strategy and Scale Up Plans
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What is the current challenge you are facing?
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How often do you collect consumer feedback?
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Do you understand triggers and barriers to your product?
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Is your performance marketing showing good conversions?
ESG - Building a Future First Business
“We need a business paradigm that sees profit, people, and planet as mutually reinforcing, not mutually exclusive.” John Elkington, Creator of the Triple Bottom Line
ESG is often viewed as a statutory compliance issue. However, with confident consumers on the rise, the democratization of media, and a visible impact on the planet, sustainability is not a choice. People, Planet and Profit are no longer distinct goals. As you assess your product-market fit and plan for future success, it is important to consider where you stand in terms of ESG.
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Where are you in your ESG journey? These questions may help you assess and develop a plan:
Level 1: Minimum Practice for Risk Management
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Are you aligned with the trends affecting your industry and business?
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How quickly do you address external vulnerabilities?
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Do you have a system in place for social responsibility, such as financial donations, in-kind contributions, or volunteering?
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Are you meeting and reporting baseline ESG metrics?
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Have you committed to the minimum required ESG standards?
Level 2: Statutory ESG Practice
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Are you tracking major trends and preparing contingency plans?
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How do you leverage your company’s strengths to enhance specific ESG goals and metrics?
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Do you comply with voluntary industry standards and exceed the industry average?
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Have you established a comprehensive sustainability policy?
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Are your HR practices inclusive?
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Do you run strategic, high-impact philanthropic programs?
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Are you regularly engaging with stakeholders to identify key ESG priorities?
Level 3: Advanced ESG for High Impact
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Do you drive social impact through innovation, market positioning, and consumer choices?
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Is ESG a core differentiator in your overall strategy, growth, and success?
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Do you embed ESG into capital allocation, resource distribution, employee incentives, and evaluations?
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Are you actively working to improve sustainable outcomes both internally and externally?
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Do your ESG disclosures comprehensively cover all aspects of your company’s operations?
