What is product market fit

Tren Griffin: 12 Things about Product-Market Fit (a16z.com link)

Also see:

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Race to a category leader

Geoffrey Moore, Technology Speaker, The Chasm Has Evolved on why early category leadership is important (hint: majority of the market copies their peers)

David Sacks: The One Who Defines the Category Wins the Category (medium.com link)

Harvard Business Review: The Difference Between a First Mover and a Category Creator (hbr.org link)

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It’s not the best product, but best execution, that wins

A classic example of not the best product but best execution winning is the Betamax vs VHS format war. Betamax was, in theory, a technically superior recording format over VHS due to resolution, slightly superior sound, and a more stable image (wikipedia.org link). However, VHS out-executed Betamax by really understanding and delivering for their market/customers needs (theguardian.com link)

In similar vein, it’s not the first (startup) to market but first to product-market fit that wins.

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Product premature optimization

Premature optimization can be defined as optimizing before we know that we need to. In Donald Knuth’s paper “Structured Programming With GoTo Statements”, he wrote: “Programmers waste enormous amounts of time thinking about, or worrying about, the speed of noncritical parts of their programs, and these attempts at efficiency actually have a strong negative impact when debugging and maintenance are considered. We should forget about small efficiencies, say about 97% of the time: premature optimization is the root of all evil (c2.com link)

Just like in programming, this concept applies to business processes too. Also see:

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Why product and brand framing matters

Strategy Peak: How to Get People to Pay 77% More By Changing Just One Thing (strategypeak.com link)

April Dunford: How product framing can help grow your startup (or kill it) (medium.com link)

Niklas Persson: An exploratory investigation of the elements of B2B brand image and its relationshipto price premium (researchgate.net link)

First Round Review: Positioning Your Startup is Vital — Here’s How to Nail It (firstround.com link)

How to Position Your Product by April Dunford at Lean Product Meetup

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Intellectual property in startups

Seedcamp: Understanding Intellectual Property: Ownership (seedcamp.com link)

Techdirt: The art of taking down patent trolls (techdirt.com link)

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Perceived product value

A study by an assistant professor at The University of Texas at Arlington published in the Journal of Marketing shows that marketers of relatively high-priced products should consider keeping prices high, as many consumers associate high price with high quality (sciencedaily.com link)

HubSpot: The Psychology of Customer Perceived Value (hubspot.com link)

The Adaptive Marketer: How can a higher price result in more sales? (theadaptivemarketer.com link)

CXL: How to Increase Perceived Value (and Charge More) (cxl.com link)

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Startup exponential growth

Digital Information World: 5 tips for harnessing exponential business growth (digitalinformationworld.com link)

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Zombie startups

Zombie startups are VC funded companies that don’t close their doors after funding runs out, but also does not grow significantly. They typically generate enough revenues to continue business, but the VC is unable to divest. As a result, the company tends to shed all of its brainpower and continues to operate as a brainless zombie for many years (svdictionary.com link)

Business Insider: The CEO of Dropbox explains the one thing that’s worse than having your startup fail: becoming a ‘zombie startup’ (businessinsider.com link)

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Aligning everyone towards a common goal

MAGNETS: How Do They Work? — MinutePhysics

15Five Blog: 5 Lessons To Align Your Team and Achieve Astronomical Results (15five.com link)

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