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Proven and Tested Methods to Build a Scalable Online Business
Startup Challenges 2023
It is often challenging to start something new, whether it be a startup with an ambiguous business model or a small business with a traditional business model. Besides, product managers in tech companies face tough times when they are working on innovative ideas for their existing businesses. So let’s try to list a few potential challenges that a product team might face in 2023.
Building a scalable, online business is tough.
Trying to find innovative products for an existing business is challenging.
What is also tricky is introducing a line extension for an existing product line.
Product managers in scale-ups also find it hard to add new features to their existing platforms.
As product-builders, our job is to design new products and services. Whether we are working for an existing technology company or in a startup environment, we often find ourselves vulnerable in an environment of uncertainty. And this is exactly the type of environment that we will find ourselves in when we start building products and services.
The 7-Fit Framework Towards Product-Market Fit: Founders' Startup Story
You may be wondering about the Amazon startup story, Elon Musk startup story, or Zomato startup story. These are not the type of stories we will be sharing here. But instead, we’ll talk about how two ambitious mid-career managers left their “fancy” jobs and dived into the “ocean of uncertainty” to then build, grow and sell a business.
Ten years ago, fresh out of corporate life, we started working on an idea. We dreamt of helping online shoppers while they were making their purchase decisions. From that small idea, we grew a company that served hundreds of eCommerce companies across several continents.
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Build, grow, and sell was our manifesto; luckily, we could close the loop by selling our bootstrapped business.
On the way, we used many resources and got inspiration from some opinion leaders. We are especially thankful for:
Ash Maurya for the Lean Canvas and Running Lean.
Andy Rachleff for coining the term Product-Market Fit.
These people and their incredibly valuable methods helped us build a business from scratch and grow it in a self-funded fashion. It was a tough but fulfilling experience. We made a few (quite a few!) mistakes but we also learned a lot.
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Introduction to
“7-Fit Framework Towards Product-Market Fit”
We now would like to help entrepreneurs and intrapreneurs overcome hurdles to find product-market fit. From our own experience, we created a framework to help product builders kick-start their businesses and guide them on their way while they build scalable online businesses.
We call it; the 7 Fit Framework Towards Product-Market Fit.
At all its best, this is a “lean” methodology. It encompasses many innovation methods we tried and tested in the last 10 years. This framework is for;
An intrapreneur, a product manager, or a product marketer working on a new product/innovation idea
Team member working for a scale-up with some growth-related issues
One of the first employees of an early-stage startup
The co-founder of an early-stage startup
A solopreneur (a single entrepreneur without a co-founder) who is trying to validate an idea before forming a team
