Screen Shot 2019-06-19 at 4.30.23 PM.png

THE PRODUCT / MARKET FIT CANVAS

I have been fortunate to be involved as one of the Co-Creators of the Product / Market Fit Canvas.

 

The Product / Market Fit canvas was created as a tool to aid aspiring startup founders and entrepreneurs to define in detail what their product or service is and to validate their assumptions on a “balance sheet” format or canvas.

WHAT IS PRODUCT / MARKET FIT?

What is Product Market Fit?

 

According to the known startup entrepreneur and investor, Marc Andreessen, Product Market Fit is defined as:

 

“Product/market fit means being in a good market with a product that can satisfy that market.” Many people interpret product/market fit as creating a so-called minimum viable product that addresses and solves a problem or needs that exists.”

Screen Shot 2019-06-19 at 4.30.23 PM.png

THE PRODUCT / MARKET FIT CANVAS

The Product/Market Fit Canvas has eight building blocks, four focused on the Customer and four focused on the Product.

Customer’s Blocks

 

  1. Characteristic’s & Jobs to be done: WHO is the typical customer for your product/ service and what job(s) is he/she trying to get done?

  2. Problems & Needs: WHY do your customers need to use your product/service in order to get their job(s) done.

  3. Channel: HOW do your customers acquire your products/services?

  4. User Experience: WHAT does your customer do with the product to get real value?

Product’s Blocks

  1. Alternatives: The approach(es) your customer is currently taking to get their job(s) done, including the tools they are using.

  2. Key Features: The essen3al elements that your product or service must have to meet your customer's ʼ needs and solve their problem.

  3. Value for the channel: The value your channel will get by offering and selling your product.

  4. Key metrics: The key things to measure to know if your customer is getting real value.

 

These metrics will help you to know if you've achieved Product-Market Fit.

DOWNLOAD YOUR PMF CANVAS