Problem/Solution fit vs Product/Market fit

During the lockdown period, I have talked to 76 founders of tech and tech-enabled startups, and when the discussion came around the problem/solution fit the majority of them shifted it to product/market fit. After noticing it more and more I decided to share my own understanding of these processes and also to highlight how vital it is to work on the product/solution fit before building an MVP. 

Problem/solution fit 

Problem/solution fit is the very beginning stage of a startup when founders are using design thinking to shape their business idea and validate it with their users. 

For tech and tech-enabled startups there are several steps that are usually completed at this stage: 

1. Problem research - it includes customer segments, pain points for each customer segment and value proposition; 
2. Articulating the solution - that includes the product channels, the marketing channels, and the revenue streams;
3. Validating solution hypothesis with potential users - user research 
4. PoC development - it can vary from only high-level wireframes to some outcome of the “no code required” platforms. 
5. User testing 
6. Clickable prototype using available prototyping tools like InVision or a more advanced version of the “no code required” platforms mentioned above. 

At this stage, it is mandatory to align your vision with the market needs and a scalable business model.  

Out team at Innovify supports founders to find problem-solution fit throw a design thinking workshop where we get a senior UX/UI, a senior software architecture, a business analyst and a product owner to join forces with the founding team to work on the lean canvas and produce high-level wireframes, a software architecture proposal, and a detailed feature list. 

(If curious to see how these documents look like, DM me) 

Only when gut feelings and data collected from users firmly validate the problem/solution fit, founders can start building the MVP.

Product/Market fit 

As soon as the MVP is launched into the market - the product/market fit starts.

Continue reading this article on Innovify's blog.

P.s. Looking for a tech partner? Let’s chat. Innovify is the startup studio that partners with ambitious founders to help them establish profitable business models and accelerate to Series A investment.