Why read this
In this insightful article, Sequoia Capital introduces a framework that breaks down PMF into three distinct archetypes, each with its own challenges and strategies. We think it’s a great read because understanding these archetypes and their implications can be instrumental in making informed decisions and adapting to achieve and maintain PMF more effectively. The framework aligns with a key theme we've touched on via the AlbionVC Studio – that finding PMF is an ongoing journey, especially when entering new markets or launching new products.
Key advice from the article
- Identify which of the three PMF archetypes your product or service falls into to clarify the specific challenges and opportunities you face:
- Hair on Fire (urgent need, crowded market),
- Hard Fact (accepted pain point, requires market education), or
- Future Vision (visionary innovation, customer disbelief).
- Tailor strategies and operating priorities based on your PMF archetype to effectively navigate the challenges and opportunities associated with each archetype.
- Leverage real-world examples to gain inspiration and insights for your own PMF journey.
- Regularly re-evaluate current products and potential future opportunities through the lens of the PMF archetypes to make informed strategic decisions.
How to succeed across each archetype:
- For Hair on Fire products
- focus on delivering a best-in-class, differentiated solution and execute with speed to outpace the competition.
- When addressing a Hard Fact problem
- prioritise educating the market about your novel approach and work on overcoming customer inertia to drive adoption.
- If pursuing a Future Vision
- be prepared for a long journey and focus on attracting and retaining top talent while finding commercially viable pit stops along the way.
The article
Dive into the full article below to explore the Sequoia PMF Framework and discover how it can help you navigate the path to sustained product-market fit and long-term success.
Original source: https://www.sequoiacap.com/article/pmf-framework/