What's today's definition of Product Market Fit (PMF)? Here's my take using 10 simple milestones to measure progress towards PMF.
- 10 unique visitors - Ok. Starting slow. Let's see if 10 unique people can find your site. Unaided. Through organic search.
- 10 followers - real people who have given you their contact details (email or phone) or subscribed to your blog, video channel or podcast. They have given you permission to "follow them home"
- 10 hand-raisers who've asked for a demo or a conversation about their needs. They filled out a form and asked to be contacted
- 10 users voting with their time and using your product/service at least once.
- 10 repeat users (renewals) who've come back and used your service at least one more time a week after they signed up.
- 10 people who've shared your service with someone else (unaided).
- 10 users who are now paying for your service (aka Customers).
- 10 testimonials - paying users who are willing to say so publicly (a video testimonial or a quote).
- 10 new customers who have signed up after being referred by one of your existing customers.
- 10 weeks of churn below 1% (customers stay with you on average for two years).
Do this and you're ready to scale.