WTF is PMF? (part 2 of 2)
In the first part of this post , I looked at what some of the most knowledgeable people in the industry said about Product/Market Fit (PMF) and how they try to define and measure it. While everybody seems to agree on the broad concept of PMF there is (unsurprisingly) no consensus on how exactly it can be defined and measured, and some people set the bar much higher than others. For example, according to Brad Feld you find PMF somewhere between $100k and $1M in MRR , while others argue that you can have PMF with much lower revenues. In this part I’d like to talk a bit about my view on PMF and how we try to detect it when we look at SaaS startups at Point Nine. Here’s my favorite definition of PMF, inspired by many of the people mentioned in the first part of the post: Product/Market Fit means having a product that solves a problem for a significant number of independent customers. Note that this definition intentionally doesn’t say anything about market size. Lots of companies have PMF ...