The Importance of Finding Product/Market Fit
The definitions I've seen for Product/Market Fit are ambiguous and confusing. They tend to be qualitative and not especially helpful.
An alternative definition I've developed is qualitative and prescriptive for action:
Product/market fit is achieved when you’ve uncovered a specific problem for a class of customers and developed a product that can profitably solve the problem at scale for those customers.
This process identifies and defines:
1. the problem you’re solving
2. your customer that has the problem
3. your product that profitably solves the problem
4. the value proposition that defines how your product is a superior solution for solving your customer's problem
Step 1 is the most critical step of all of these, and it's essential to spend a sufficient amount of time defining it. Remember, your goal isn't first to market...your goal is first to Product/Market Fit. Be patient with each step and you'll get a much better result in the subsequent steps.