Another live (from the hammock) installment of:
Marc Andreessen made the Internet fun with the first browser, Mosaic. As Marc invents and invests in the best of the Web, he is someone to get practical advice and inspiration from on his current Blog. However, let's go back to 2007 for some of the best insights into our priorities for entrepreneurship (in any size company) today...
The questions that Marc is trying to answer:
- Are you filling a market need?
- What problems are you solving?
- Do you spend most of your energies on building the right product?
- Is having the right Team the most important element?
The only thing that matters is getting to product/market fit.
Product/market fit means being in a good market with a product that can satisfy that market.
- When a great team meets a lousy market, market wins.
- When a lousy team meets a great market, market wins.
- When a great team meets a great market, something special happens.
The #1 company-killer is lack of market.
You can obviously screw up a great market -- and that has been done, and not infrequently -- but assuming the team is baseline competent and the product is fundamentally acceptable, a great market will tend to equal success and a poor market will tend to equal failure. Market matters most.
But the original post, is at http://pmarchive.com/guide_to_startups_part4.html
As he says, Product/Market Fit ... it's the only thing that matters
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