Some reading:

Popular Jargon:

  • Startup of One
  • Gig Economy
  • Unicorn: valuation of more than $1 billion
  • Decacorn: valuation of more than $10 billion


  • CAC = Customer Acquisition Cost
  • LTF = Life Time Value = value that a customer will contribute to your company over their entire “lifetime” (usually 12-24 months)

Product Fitness Assessment (PFA)

  1. Exactly what problem will this solve? (value proposition)
  2. For whom do we solve that problem? (target market)
  3. How big is the opportunity? (market size)
  4. What alternatives are out there? (competitive landscape)
  5. Why now? (market window)
  6. How will we get this product to market? (go-to-market strategy)
  7. How will we measure success/make money from this product? (metrics/revenue strategy)
  8. What factors are critical to success? (solution requirements)
  9. What are the fundamental reasons why this product would fail? (key assumptions being made)