Speedy Growth Killed My Startup

We seemed to be rocking it-lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.

- RYAN FRANKEL

Three months after I launched my company, we were featured in The New York Times. Other national outlets followed. The attention led to partnerships with Shake Shack, Bombas, Urban Outfitters, and hundreds of other major brands.

You might think this sounds good. I sure did when it happened. Hockey stick growth is a sign of success, right? But it wasn't. My company, This App Saves Lives, had fallen into one of the most surprising and ultimately fatal traps for entrepreneurs: We grew before truly understanding our product-market fit. That mistake would ultimately result in the demise of our business.

Here's why this problem is so deadly-and how, with my new company, I'm plotting a slow growth strategy to avoid it.

For the uninitiated, productmarket fit (PMF) means building the right product to satisfy a specific type of customer's needs. It's a simple concept, but executing it is complex. To achieve PMF, you must deeply understand the wants and desires of your target customers.

I thought I had the answers.