Grenier: During economic downturns, startups must assume they lost PMF
Adam Grenier · When to invest in new acquisition channels | Adam Grenier (Uber, MasterClass) · Sep 15, 2022 · at 40:41
Adam Grenier, growth advisor and former VP of Marketing at MasterClass, explains why macro shifts invalidate previous product-market fit assumptions.
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“Even right now, like, one of the biggest pieces of advice I'm giving to people that are like, how should we adjust our marketing with the economic changes and things like that, is like, start by assuming you no longer have product market fit. Because you had product market fit in a different market. It's a different market now. So you have to start over and hopefully you do, or it's pretty close to, and you just have to adjust a couple of things and you can be right back on track. But like, if you just assume like you need to launch a new channel to fix this problem, like you're going to be wrong because like your entire customer base change, not just the next 10% of customers that you're looking for.”
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