Getting people to pay to solve their problems? That’s the real test of any business idea. And that’s exactly what Product/Market Fit (PMF) is all about. Fun fact: over 40% of startups crash ‘cause they couldn’t nail that PMF. 🚨
Peep these two stories of students who hit PMF before even launching a biz:
1. Jennifer’s Essay Hustle:
Jennifer’s roomie was stressed about an essay she had to write and begged Jennifer to help out (she knew Jen was 🔥 at writing). Jen was busy with her own stuff, but the roomie was desperate and threw $20 at her just to get the job done. That was the lightbulb moment! 💡 Jennifer started writing papers for cash and soon the demand was so high she had to hire more writers. Boom, that’s how EssayService was born.
2. Warby Parker’s Visionary Moment:
Gilboa, a broke grad student, needed new glasses after his pair broke on a backpacking trip. But when he realized that glasses were marked up by 10-20x their actual cost, he knew there was a better way. He and his buddy Neil Blumenthal launched Warby Parker to sell quality glasses for way less. Now? They’ve raised over $200M and sold a million pairs of specs. 🕶️
Food for thought: How can you slide into social media DMs, drop polls, or post stories to get that feedback and validate your product idea, without spending a dime? 🤔📲
Get creative, get chatting, and find out what your future customers are willing to pay for!