Chapter
Finding the Right Product Market Fit: Better or Cheaper?
22:56 - 25:56 (03:00)
In this episode, the host discusses the concept of product market fit and how it is not just about being better or cheaper, but finding the right combination of both. Using an example of a company creating a new supersonic airplane, the host explains how the company is not just focused on being faster or cheaper, but striking the right balance to appeal to the market.
Clips
The misunderstanding that disrupting means providing a better or cheaper solution is prevalent, as many believe they're in the same boat as other industries, like the steel or pizza robot businesses.
22:56 - 24:52 (01:56)
Summary
The misunderstanding that disrupting means providing a better or cheaper solution is prevalent, as many believe they're in the same boat as other industries, like the steel or pizza robot businesses. Rather than just improving, true disruption requires a focus on building new models and new pricing strategies.
ChapterFinding the Right Product Market Fit: Better or Cheaper?
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PodcastMy First Million
Better and cheaper is the ideal combination for avoiding product market fit risk.
24:52 - 25:56 (01:03)
Summary
Better and cheaper is the ideal combination for avoiding product market fit risk. However, if a product is better but more expensive or cheaper but not better, there is still a risk of product market fit.