I was recently talking with someone about their time at a well-funded startup, one backed by some prestigious names. From the outside, they looked really good. A large valuation, big rounds, the works.
But once they were inside, they realized problem sat underneath everything – loose product-market fit.
It’s the one thing that separates companies in early stages. When you have it, you’re serving a painkiller, something a group of people need. When you don’t, none of the rest matters. Not the money you raise, not the plans you make. You either pivot until you find it, or you die.
The flip side is the good news. If you do have it, you get an enormous luxury: time. Time to figure everything else out.
Because most small companies are a mess in one way or another.
The ones with product-market fit just get the room to clean it up, even as they scale.
A Learning a Day 