One mistake I have seen more than once in the startup industry is to tackle both primary challenges at the same time:
- product-market fit, i.e. making sure your product meets the needs of the market while maintaining a viable price range;
- technical implementation, i.e. overcoming the technical hurdles in developing and validating your product.
Why is it necessary to choose just one?
Trying to tackle both at the same time is like building a ship without a destination. You are trying to design a ship that is suitable for all conditions, which leaves no opportunity for technical compromise because the destination is still unknown.
A deep understanding of your product’s marketability enables strategic decision making and efficient resource allocation. It gives you the certainty of where you should go next, where you can compromise and where the true value lies for the customer. In short, it allows you to focus on developing the best possible product.
On the other hand, with a capable development team and process, you can respond quickly to customer needs and market shifts. This product-release oriented dynamic allows for continuous adjustments to achieve an optimal match between product and market.
If you’re unsure of your product’s market fit while grappling with technical complexity — pause, re-evaluate and pivot as needed. This will help you stay focused on you goal and set the stage for long-term growth.