cracking product-market fit lessons from founders and At TechCrunch Disrupt 2025, industry leaders Rajat Bhageria, Ann Bordetsky, and Murali Joshi shared invaluable insights on achieving product-market fit, a critical milestone for startups aiming for sustainable growth.
cracking product-market fit lessons from founders and
Understanding Product-Market Fit
Product-market fit (PMF) is often described as the moment when a startup’s product meets the needs of its target market effectively. Achieving PMF is essential for startups, as it signifies that they have validated their business model and can scale operations. Rajat Bhageria, co-founder of Chef Robotics, emphasized that PMF is not just about having a good product; it’s about understanding the market dynamics and customer needs deeply.
The Importance of Customer Feedback
One of the key strategies discussed was the importance of customer feedback in refining products. Bhageria highlighted that startups should actively seek input from their users to iterate on their offerings. “Listening to your customers is crucial,” he stated. “They will tell you what works and what doesn’t. It’s not just about collecting feedback; it’s about acting on it.”
Ann Bordetsky, a partner at NEA, echoed this sentiment, noting that many startups fail to pivot based on customer insights. “You need to be agile,” she advised. “If your customers are telling you something isn’t working, don’t be afraid to change direction.” This adaptability can be the difference between success and failure.
Identifying Target Markets
Another critical aspect of achieving PMF is identifying the right target market. Murali Joshi, managing director at ICONIQ, pointed out that startups often make the mistake of trying to appeal to everyone. “Narrowing your focus can lead to more significant insights,” he said. “Identify a niche where your product can solve a specific problem effectively.”
Joshi suggested conducting thorough market research to understand potential customer segments better. This could involve surveys, interviews, or even analyzing competitors. “The more you know about your target audience, the better you can tailor your product to meet their needs,” he added.
Building a Minimum Viable Product (MVP)
Creating a Minimum Viable Product (MVP) is a common strategy for startups looking to test their ideas in the market quickly. An MVP allows companies to launch a simplified version of their product to gather feedback without significant upfront investment. Bhageria shared his experience with Chef Robotics, stating that their initial product was a basic version of what they ultimately envisioned. “We learned so much from our MVP,” he noted. “It helped us understand what features were essential and which ones could wait.”
Iterative Development
The process of iterative development is crucial for refining an MVP based on user feedback. Bordetsky emphasized that startups should not view their MVP as a final product but rather as a stepping stone. “You should be constantly iterating,” she said. “Each version of your product should be better than the last, based on the insights you gather.”
This iterative approach allows startups to evolve their products in real-time, ensuring they remain aligned with market demands. Joshi added that this process also helps in building a loyal customer base, as users feel their feedback is valued and incorporated into the product development cycle.
Marketing Strategies for Achieving PMF
Once a startup has developed a product that resonates with its target market, the next step is to effectively communicate its value. Marketing strategies play a pivotal role in achieving PMF. Bordetsky discussed the importance of storytelling in marketing. “Your product has to tell a story that resonates with your audience,” she explained. “People connect with narratives, not just features.”
Leveraging Social Proof
Social proof is another powerful marketing tool that can help startups establish credibility. Joshi suggested that startups should showcase testimonials, case studies, and user reviews to build trust with potential customers. “When people see that others have benefited from your product, they are more likely to try it themselves,” he noted.
Bhageria added that partnerships with established brands can also enhance credibility. “Collaborating with a well-known company can give you instant recognition,” he said. “It’s a way to leverage their audience and build your own.”
Measuring Success and Adjusting Strategies
Once a startup has launched its product, measuring success becomes essential. Bordetsky emphasized the importance of key performance indicators (KPIs) in evaluating product-market fit. “You need to have metrics in place to track your progress,” she stated. “Are you seeing an increase in user engagement? Are customers coming back for more?”
Data-Driven Decisions
Making data-driven decisions is crucial for startups looking to refine their products and marketing strategies. Joshi highlighted the importance of analytics tools that can provide insights into user behavior. “Understanding how users interact with your product can help you make informed decisions,” he said. “It’s about using data to guide your next steps.”
Bhageria also pointed out that startups should not be afraid to pivot if the data indicates a need for change. “Sometimes, the numbers tell a story that you might not want to hear,” he noted. “But ignoring that data can lead to bigger problems down the line.”
Investor Perspectives on Product-Market Fit
Investors play a critical role in the startup ecosystem, and their perspectives on product-market fit can offer valuable insights. Bordetsky shared that investors are increasingly looking for evidence of PMF before committing capital. “They want to see traction,” she said. “If you can demonstrate that your product is resonating with customers, you’ll have a much easier time securing funding.”
The Role of Funding in Achieving PMF
Funding can significantly impact a startup’s ability to achieve product-market fit. Joshi noted that having sufficient resources allows startups to invest in marketing, product development, and customer support. “Without funding, it’s challenging to scale your operations,” he explained. “But with the right investment, you can accelerate your path to PMF.”
Bhageria added that startups should be strategic in how they use their funding. “It’s not just about raising money; it’s about using it wisely to achieve your goals,” he said. “Every dollar should be spent with the intention of moving closer to PMF.”
Conclusion: The Path Forward
Achieving product-market fit is a complex journey that requires a deep understanding of customer needs, iterative development, effective marketing, and data-driven decision-making. The insights shared by Rajat Bhageria, Ann Bordetsky, and Murali Joshi at TechCrunch Disrupt 2025 provide a roadmap for startups looking to navigate this challenging landscape.
As the startup ecosystem continues to evolve, the importance of PMF will only grow. Founders and investors alike must remain vigilant, adaptable, and committed to understanding their markets. By prioritizing customer feedback, leveraging data, and crafting compelling narratives, startups can position themselves for success in an increasingly competitive environment.
Source: Original report
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Last Modified: September 20, 2025 at 2:42 am
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