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Milosz Falinski

Founder at Lumi Design

Highlights

Mar 1 · linkedin

The only metric you should care about 💡

‘Product-market fit’ describes a state you should aim to reach while creating your product (or service).

How well does your product satisfy the needs of the market? It is not a hypothetical state.  It can be closely measured and improved upon.

This is really the only metric you should care about and the hard truth......It is the #1 reason why startups fail.  According to CB Insights, 42% of CEOs report this as the reason for their failed startups.

In reality, virtually all of the other reasons — running out of funding or getting outcompeted — might also point back to the lack of this fit. They only become critical problems when your product is not meeting the needs of your customers.

So, I ask you all - How well does your product satisfy the needs of the market?

Lumi is a product partner for tech startups. We work with ambitious teams to create experiences that drive value. Get in touch to see how we can help.

#startups #innovation #technology #customerfit #productdevelopment

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Milosz Falinski
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Experience

Founder at Lumi Design
Mentor at Techstars

Education

Thepower Business School
Landmark Education
Bachelor Of Design In Design, Robert Gordon University

Location

Edinburgh, Edinburgh, United Kingdom