How to discover the product?

• The process of Product Discovery is all about understanding the users’ problems and identifying the product that will solve those problems
• In case the product that will solve the users’ problems is not yet defined, techniques such as Design Sprint and Double Diamond can be employed to try to come up with a solution
• In other times, a new technology has been discovered or is being developed, but its applications are not yet clear (in other words, it is not clear which customer problems this technology or product can solve)
• In any case, there is a need to define WHAT is the product that will help fulfill the Vision according to the selected Strategy in the best possible way
• This involves articulating the essence of the product (high level definition) and its key features (low level definition)
• This aligns with the outer most circle titled "What" in Simon Sinek’s framework, The Golden Circle
• Note: in some cases, the product is being developed according to a certain vision, but the strategy is determined only later

How to reach Product/Market Fit?

• The most important thing after defining the product is to reach an understanding whether the product will, can or has already reached Product Market Fit
• Product Market Fit means being in a good and big enough market (based on the Market Research) with a product that can satisfy that market
• Reaching Product Market Fit is the best sign and approval that the product has a real and strong enough need in the market
• If there is no need for the product in the market, then the product will never reach Product Market Fit, changing the strategy will not help
• In other words, Product Discovery can be seen as the journey, while Product Market Fit is the destination
• Product Market Fit is an allusive term:
  • Marc Andreessen said you can always feel Product Market Fit when it’s happening. The customers are buying the product just as fast as you can make it - or usage is growing just as fast as you can add more servers (see here)
  • Jeffrey Moore said that Crossing the Chasm is necessary for a product to reach Product Market Fit and happens once early adopters adopt the product and understand they really need it
  • Sean Ellis suggests asking users “how would you feel if you could no longer use the product?” and measuring if at least 40% of respondents answer, “very disappointed.”
• I believe validating Product Market Fit depends on whether the product is in a blue ocean or a red ocean (in which there are similar products for the same problem):
  • If the product is in a blue ocean, then you should verify you reach Product Market Fit before you scale, because you don't know if you are solving a real need in the market
  • If the product is in a red ocean, then it was already proven (by your competitors) that there is a need for the product in the market and therefore there is no need to verify reaching Product Market Fit