Search for market-product fit, not product-market fit

Search for market-product fit, not product-market fit

The best way to discover unambiguous market trends is to look for instances where customers are innovating by themselves by modifying or re-imagining existing products.

Another way to discover good business opportunities is to take the latest innovations in technology and imagine how can such innovations offer a radically better solution for existing customer desires.

Be in the desires market, not the solutions market

Be in the desires market, not the solutions market

It's important to clearly distinguish between what people desire and how they fulfill them. Our desires usually remain the same, but methods of fulfillment keep changing. For example, the desire to have good oral hygiene can be fulfilled in multiple ways: toothbrushes, mouth wash, or even by crunchy foods like carrots that help clean mouth as we chew on them.

What people care about is their desires and not how they’re currently fulfilling them

Businesses exist to fulfil human desires

Businesses exist to fulfil human desires

Human desires have been shaped by millions of years of evolutionary programming and therefore haven't changed much during the course of history. In fact, the most fundamental desires of food, sex, health and security have remained the same as they were for our hunter-gatherer ancestors.

Startups succeed because people are forever looking to fulfil their desires better than before.

Twyman’s law

Twyman’s law states that any data or figure that looks interesting or different is usually wrong.

Sounds unbelievable, isn’t it? 

But, it’s true. I saw this in action recently and wanted to share that story with you.

In June, we ran a test on our homepage and while I was looking at conversion rate by segments, I noticed that users from Windows had a 400% higher signup rate for VWO free trial as compared to users using Mac OS X.  

Now, that’s baffling and our team spent a good deal of time trying to understand why was that happening. Someone in marketing hypothesized that perhaps Mac OS X users have a better design aesthetic and our homepage wasn’t appealing to them. Was it true? ...  Read the entire post →