product-market fit

In today’s saturated market, simply creating a product or service isn’t enough to guarantee its success. Many businesses struggle to gain traction and end up being abandoned. Only a small percentage of products achieve significant success, while others fall into the category of modest success or failure. This phenomenon can be explained by the Pareto principle, also known as the 90/10 rule. Vilfredo Pareto, an Italian engineer and economist, observed that the majority of effects are caused by a small number of factors....

When it comes to running a business, there are typically two main options: service-based companies and product-based companies. Understanding the differences between these two models is crucial for entrepreneurs, especially for those interested in solopreneurship. In this article, we will explore the distinctions between service and product companies and the benefits each one offers. Service Companies: Freelancers at Work Service companies, also known as freelancers, are individuals or businesses that offer their expertise in a specific field....