Jacob DuttonCorporate Innovation | Venture Building | Value Creation

Future Foundry LIVE: Failing to achieve product/market fit

21 Jul 2023 · 1 min

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Jacob Dutton explains why launching without product/market fit fails: you hire teams for a business that doesn't work yet, spend heavily turning prototypes into products, and burn capital before proving anyone wants what you're building. Prove you can acquire users and generate revenue at scale first.

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And if you don't make sure that the products that you're testing in the real world satisfy the needs of a big enough market, that's going to lead to 3 things, right? You're going to be hiring teams to sort of run businesses that shouldn't really be businesses. You know, you'll be turning things that to date have been relatively cheap to produce into, you know, production-ready products. That is a very expensive endeavor. And you're going to be building a business ultimately, which requires just a significant amount of investment. You've got to test and de-risk it first by making sure that you can acquire users, you can generate revenue at a significant scale before you start to fully, fully invest.