Reaching the Startup Holy Grail: Product-Market Fit

What You’ll Do

Project: Determine next steps for Firestarter (fictional startup) to reach product/market fit .

What You’ll Learn

“If you have to ask if you have found it, you haven't.” - Eric Ries

Reaching product-market fit is the holy grail of all startups. In fact, it’s the only thing that matters. According to Steve Blank, “the biggest cost to a startup is time, not money. Most startups fail not because the technology doesn’t work, but because they are creating the wrong product for the wrong market.”

In this introductory class, we’ll go through the definition of product/market fit, running surveys, and identifying key metrics that will allow your startup to know when you’ve hit product/market fit. You’ll walk out of this class with the ability to put your startup idea on the right path to momentum, traction, and eventually defining your repeatable and scalable model!

This class will be group-based. I’ll put together a case study for a fictional startup, Firestarter, which we’ll analyze heavily throughout the course. By the end of the class, your group will submit recommendations on what Firestarter should do next.

Beginner Level

This class is geared for early-stage entrepreneurs and students that have either 1) taken my “Launch Your Startup Idea Class” or 2) have a basic understanding of product/market fit.

About Your Teacher See Full Bio

Michael Karnjanaprakorn · CEO/Co-founder of Skillshare

Michael is the CEO/co-founder of Skillshare, a marketplace for classes. Michael launched Skillshare for less than $5,000. Less than 9 months later, Michael successfully raised over $3.6M from Union Square Ventures and Spark Capital.

Previously, Michael led the product team at Hot Potato, which was acquired by Facebook, and developed products and services that organized the creative world at Behance. Michael is also a Venture Advisor for Collaborative Fund, 2012 TED Fellow, and listed as one of the 100 Most Creative People in Business in 2012 by Fast Company.