Searching For Engagement Rather Than Profitability?
by Brad Bonnett While studying here at HBS I have heard many students and startups talk about the value of engagement, engagement, engagement with no regard to customer value propositions or revenue generating ability. Although this is becoming more of the exception rather than the norm I question it’s validity in case discussions on lean startups. In the case of a lean startup does this engagement really constitute Product Market Fit (PMF)? As Marc Andreessen describes it, PMF is “being in a good market with a product that can satisfy that market.” Breaking this down there is two main questions that I have been pondering. If you are giving your product away what market are you in, and if you think that market is advertising does having engaged customers truly satisfy that market? What market are you in? I believe that the market you are in is defined by who the customer is and the product or service that is provided to them. For example if you create...