Why Product Market Fit is the most important piece of your Strategy

There are hundreds, if not thousands, of great technologies that could have gone on to improve our world but were never able to get that magical ‘product – market’ fit…. that moment when you discover the ideal match between a product and its intended market, resulting in satisfied customers and spontaneous word of mouth promotion.

Finding product market fit is hard. It requires an iterative approach influenced by:

Company capabilities
Product features and capabilities
Market sizes
Market segments
Competitive issues
And so on ....

Somewhere in the midst of this is product market fit.

Most companies have a biased view of the world (to the hammer everything is a nail), so getting objective input is essential. And not just from anyone. It’s best to work with a company or individual that has broad sector experience, excellent research skills, a compendium of business models, sound channel knowledge, solid networks, and the ability to have a user level understanding of the product. This will help you to get focus faster and let you invest in engagement rather than research.

Kingsford has an excellent reputation in helping firms find the right fit.

We engaged Kingsford to help us gain a deeper understanding of the utility-scale solar generation market for our Zero Voltage Switching (ZVS) inverter product. They developed a detailed overview of the North American market along with a forecast showing the huge demand for our product. They were also able to provide important insights into the product features and capabilities that the market will require in the coming years.

Kingsford is a trusted and reliable advisor in our journey to commercialization - highly recommended. Kingsford has helped us develop our go-to-market strategy for our radically new residential power management solution. They quantified market size and demand using primary and secondary research, crafted an effective position statement to focus our marketing efforts, created a pricing model for our licensing activity and developed a business plan to guide our growth. Kingsford has provided excellent support and advice on all aspects of our business strategy. They give you great feedback and don’t pull any punches.

Kingsford also helps companies commercialize through these organizations:

ProductSustainable Development Technology We review candidate applications for SDTC.

IRAP’s Management Advisory ServicesWe have advised scores of companies through this program.

Invest OttawaWe are advisors to the Scale-Up program

Foresight Cleantech We are Executives in Residence with Foresight.

If you have a new technology you want to commercialize, call us.

We can help.

Andrew