The
concept of product-market fit is emerging as an important criteria for
entrepreneurs when assessing the viability of starting a business. Not
all ideas make for profitable business and its vital to ask before you
start just how critical your product or service will be to your prospective
consumers daily lives. Essentially once consumers start using your product,
how painful will it be for them in the event that for some reason it is
no longer available?
At
this stage it’s also wise to assess the competitive landscape and
ask the same questions about usage for current market substitutes.
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