You’ll explore:

• What is product-market fit and why it’s important to your business
• Who is your customer
• Identifying different customer segments
• How to put together a customer persona

You can also work through the questions in the ‘Identify your customer segments’ page to check you’ve got the key points and answer for your business.

Product/market fit is a crucial step towards building a successful business model, but it’s often missed out by entrepreneurs eager to get their product or service out into the world. It all comes down to testing the assumptions you’ve made about your potential customers to see whether there is a viable market for your business. Watch the first video to understand a little more about product/market fit and how you can avoid some of the common pitfalls that many entrepreneurs fall into.

We’ve already seen that customers are central to a good product/market fit and a successful business model. This video focuses on identifying your key customer groups to help you better understand the reachable and total market opportunity for your business. If you already have customers, use this time to reflect on how much you know about them and whether you still need to test or explore any aspects further. Don’t worry if you don’t know exactly who your customers are at this stage – this will form part of the testing and identifying a good product market fit.

In the last video, we’re going to look at the customer groups you’ve already identified and get a better understanding of their behaviours and motivations by putting together a customer persona for each segment.

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