Startup Funding Espresso – Testing for Product Market Fit

Testing for Product Market Fit

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In raising funding, investors look to see where the startup is in finding product/market fit.

Here are some key tests to check how close your startup is to product-market fit:

Demand outstrips supply.

The startup finds itself constantly adding more server space for customers.

The startup finds itself hiring more team members to manage the customer load.

The product value shows through.

Customers find value in the product and tell you so.

Sales appear to be closing more quickly.

The word of mouth from the users generates a faster close rate.

Cash in the bank account appears to be growing faster than before.

There's buzz in the market.

The press wants to write about your company.

You receive unsolicited comments about the excitement around your startup.

Proof of product market fit shows up in customer usage, increasing sales, financial metrics, and word of mouth.

It's often clear to see when you have product-market fit.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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