Fundamentals of Product-Market Fit

Product/market fit means being in a good market with a product that can satisfy that market.Marc Andreessen*
Early-stage companies likely won’t have reached product-market fit, but the earlier you start thinking about how you plan to reach it, the more confidence investors will have that you’re the right founder to invest in. Understanding product-market fit and its components—products and markets—can be the difference between working for eight years only to discover no one wanted what you were building, and building a company that creates immense value for the world, your employees, your investors, and you. Product-market fit can mean different things to different founders; here’s our definition of the concept:
Product-market fit (product/market fit or PMF) refers to the notion that there is a point at which a given market responds so positively to a company’s product that the product fits the market’s needs.

Source: www.holloway.com