Product Development · Market Development

What's more important for a start-up: Team, product or market?

Richard Pridham Investor, President & CEO at Retina Labs

January 15th, 2015

Excellent article by Marc Andreessen on what's more important for a start-up: Team, product or market? While many will say team, in the end it's market that matter's most. According to Andy Rachleff's Law of Start-up Success "the only thing that matters is getting to product/market fit". No matter how good your team or product is, if there's no market or market fit, you'll fail.

https://www.linkedin.com/pulse/marc-andreessen-product-market-fit-startups-marc-andreessen


A great idea is 1% of the work. Execution is the other 99%. In this course, we’ll teach you how to conduct market analysis, create an MVP and pivot (if needed), launch your business, survey customers, iterate your product/service based on feedback, and gain traction quickly.

Rob G

January 15th, 2015

i would tend to agree. a great product without a market/demand is a nonstarter.  A great team with a great product that can't find product/market fit is doomed, though presumably a great team won't build a product, great or otherwise,  that doesn't address a solid market opportunity.  A great market without a team or product is a great opportunity.  Great product/market fit even with a less-than-great product and less than stellar team can be molded into a great company and that's what VC do every day. 

Kerry Davis

January 15th, 2015

Finally, something that makes sense.

Chip Royce

January 18th, 2015

All of the above... doesn't matter if startup, corner deli, or multi-national corporation. You don't have a business without the intersection of 4 key things:
- Right Product
- Right customer
- Right price
- Right sales channels / route to market

They're all intertwined. Any biz plan without a solid thesis risks being suspect.

Liza Kimbo Director

January 19th, 2015

Totally agree - a great team can come up with a great product, but the market wins every time.  As this is not a given, it is important to trial as early as possible with target market, research and listen to feedback before any significant investment is made.