Last week I was talking to the #founder of a startup that is growing well. He easily acknowledged what many others fail to see. We were taking about scaling after getting to product market fit.
“We have product market fit for the domestic market, but not for the US.”
When most startups start seeing a steady growth in revenue without having to do much marketing and the orders just keep flowing in, they have achieved some level of PMF.
If you are targeting a less mature market like #India then your PMF will not automatically translate to another geography especially if it is a more mature tech market like the US, EU, or UK for instance.
- How then do you take your success from one market and take it another?
- Why would you even do it?
The second one is easier to answer. For most software categories, the spend in the US is 5x to 10x and in some cases as much as 50x of the domestic spend.
Answering the first question requires a bit more. I have tried to summarize that in the attached doc.
Do you agree that PMF is not portable?
What about the steps to take for entering a larger and lucrative market?
Find out more here.