The Four-Way Fit (ePub)

The path to greatness begins with an initial value breakthrough, achieved in a large market. Great companies then go on to perfect and extend that value, while simultaneously building pathways to sustainable competitive advantage. This requires work in four domains: Market, Product, Model and Team. At every stage of company-building, they figure out what it takes inside these domains to move on to the next stage-- and then they execute. Through the embrace of design thinking, lean thinking, strategic thinking and systems thinking, they methodically build up, sustain and extend customer-defined value. It all requires more than just product / market fit. It takes a Four-Way Fit-- found at the juncture of Market, Product, Model and Team. To find this fit, you need a framework and a method. The Four-Way Fit framework helps you to clarify the domains and subdomains that matter most in charting the innovation path. Within them, you can then differentiate between those assumptions you are confident are true, and are therefore immediately actionable; versus those that require testing and verification before investment and action. The difference between these two types of assumptions is important; understanding it helps you avoid waste of money and time. The job of the method is to help you march from your current stage to the next with efficiency and effect. It helps you strike the right balance between planning steps and action steps. It clarifies what to do if a key assumption proves flawed. It helps you test, iterate and optimize, so you can narrow in on truth, reach the next value inflection point and by so doing reach the next stage.