The False Binary
Everyone asks: "Do you have product-market fit?" As if it's yes or no.
The Reality
PMF exists on a spectrum:
- 0-20%: Wrong product or wrong market
- 20-40%: Something there but not strong
- 40-60%: Decent fit, room to improve
- 60-80%: Strong fit, ready to scale
- 80-100%: Exceptional, must-have product
How to Measure
Qualitative
- Would users revolt if you disappeared?
- Do they recommend you organically?
- What's the intensity of their feedback?
Quantitative
- NPS above 50
- Retention above 60% at 6 months
- Organic growth rate above 15%/month
What I Look For
I invest at 60%+. Below that is too risky.
Stop asking binary questions. Measure the spectrum.