In this lesson we start looking at when is the right time to scale, and when is not, and specifically dive into the concept of product/market fit. We cover the three key questions to ask yourself to make sure that you have reached product/market fit for your business, and confirm that there is the external demand for your product or service in its current form, before you focus on scaling!
Your Key Takeaway
It is very risky to try and scale a company before reaching product/market fit, and so it’s important to ensure you are profitably addressing a current customer need that affects a large number of people, before you double down and scale!
Your Action
At this point – you might still be building, in which case, just familiarise yourself with the concept of product/market fit, and keep it in mind as you experiment and make decisions. If you’re further along on your journey – work through the 3 questions related to product/market fit, and confirm you are at that point, and ready to scale!