Your product must meet the needs of the niche market and solve the problem
Anyone can make apps or write books, or make WordPress themes or plugins. In fact, for everything I mentioned, there are thousands of products on sale. Did they all succeed? never! Many people have been abandoned due to business failures, and they have no traction. It can be said that 1% of the products are very successful, and the other 9% are products that have no stratospheric success but no failure: moderate success.
This is in line with the famous Pareto principle90⁄10.
Vilfredo Pareto was an Italian engineer and economist who lived between 1800 and 1900. He was world-renowned for discovering a rule that appeared in many forms in many different fields:
Most impacts are due to a limited number of reasons
- 80% of wealth is owned by 20% of the population
- 20% of sellers create 80% of sales
- 80% of the warehouse value is determined by 20% of the total items.
- 20% of products on the market capture 80% of revenue.
- 80% of product success comes from the correct product market fit.
Marc Andreesseen defined the fit between the product and the market as follows:
Product/market fit means entering a good market with products that can meet the needs of the market.
Your product must meet the needs of the niche market and solve the problem.
Unless they are part of the benefits communicated to the customer, the technology, details, and implementation methods are of no benefit to anyone. If the product cannot solve a problem worth solving, and there is no marketing activity that can satisfy the customer, the market it targets is well-known product.
Warning programmer:Not cool.
Be careful when choosing a brand new programming technology or language just for it to create your product, because you will have to spend a lot of time learning it, you don’t know its limitations and pitfalls, and you will focus Moving from the product to the implementation details, it has nothing to do with anyone but you.
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