Unlike a failed feature launch, business viability risks (e.g., wrong pricing, changing market) kill products slowly. By the time the damage is obvious, it's often too late. This makes continuous monitoring of the business model as critical as testing new features.
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Treating pricing as a "set it and forget it" task is equivalent to ignoring user feedback on a core feature. It must be continuously monitored and iterated upon based on feature adoption, delivered value, and market changes, just like any other part of the product.
Founders who've already built a product haven't missed the 'validation' window. The focus simply shifts from 'is there a problem?' to de-risking subsequent assumptions: Is the solution worthwhile? Will people pay enough? Can customers be acquired profitably? This process is ongoing, even at scale.
Business viability is often siloed to executives or sales, but the product manager and their team ultimately pay the price for failure. PMs must own this risk, tracking metrics like the LTV/CAC ratio to ensure the product is not just loved by users but is also sustainable.
Instead of creating a massive risk register, identify the core assumptions your product relies on. Prioritize testing the one that, if proven wrong, would cause your product to fail the fastest. This focuses effort on existential threats over minor issues.
PMF isn't a one-time achievement. Market shifts, like new technology or major events, can render your existing model obsolete. Successful companies must be willing to disrupt themselves and find new PMF to stay relevant.
Don't treat validation as a one-off task before development. The most successful products maintain a constant feedback loop with users to adapt to changing needs, regulations, and tastes. The worst mistake is to stop listening after the initial launch, as businesses that fail to adapt ultimately fail.
Business model innovation is a third, often-overlooked pillar of success alongside product and go-to-market. A novel business model can unlock better unit economics, align incentives with customers, and dictate the entire product and operational strategy.
Rushing to market without data-driven pricing research is not being agile; it is a form of professional negligence. This approach prioritizes the appearance of speed over the sustainable creation of value, setting the product up for failure from day one.
Many founders become too attached to what they've built. The ability to unemotionally kill products that aren't working—even core parts of the business—is a superpower. This prevents wasting resources and allows for the rapid pivots necessary to find true product-market fit.
Stop thinking of validation as a one-time step before you build. True validation is an ongoing process that applies to every business decision, from adding a feature to launching a new marketing channel. You are constantly validating until you sell the company.