Will Fan, CEO at NewCampus, a modern business school for emerging markets. At the intersection of education, community and new technology.
Product-market fit: Every founder obsesses over it. Investors grill you about it. Media treats it like some mythical milestone that, once achieved, guarantees success.
But the reality is that product-market fit isn’t a one-and-done event. It evolves. What worked yesterday won’t necessarily work tomorrow, and the companies that survive long-term aren’t just the ones that find it—they’re the ones that learn how to redefine it as markets shift, consumer behavior changes and industries mature.
The Illusion Of Permanent Product-Market Fit
I find that too many founders believe that once they’ve hit product-market fit, they’re set for life. That’s like thinking you’re in shape because you went to the gym once. What works today might be obsolete in a few years, and the best businesses understand that product-market fit is a moving target.
Take Netflix, for example. Its initial product-market fit was built around DVD rentals by mail. It was a great business until broadband speeds improved, consumer behavior changed and suddenly streaming became the better alternative. Netflix didn’t stubbornly stick to its original model. It evolved, embracing streaming before competitors like Blockbuster could react. Later, when competition in streaming intensified, they pivoted again, producing original content to control their own supply chain. Each iteration required them to reassess product-market fit and redefine how they delivered value to consumers.
I think another illustrative example is Slack. The company started as an internal communication tool for a gaming startup. When they realized their messaging system was the most valuable part of what they had built, they pivoted and redefined their target market. Fast forward to today, and Slack continues to evolve, adapting to enterprise needs, integrating with AI and expanding beyond chat into workflow automation.
These companies prove that product-market fit isn’t static; it’s a continuous process of learning, adapting and reconfiguring your business to stay relevant as markets shift.
Scaling Impact: Learning More About Your Market Over Time
My own company’s journey has taken us across the entire spectrum of education—from supporting individual learners to working with universities to enabling corporate upskilling and now venturing into the financing industry. Each stage taught us something new about the market, consumer behavior and the fundamental gaps in the system.
When we first started, the goal was simple: Help learners develop relevant skills for the modern workforce. Over time, we realized that while individuals wanted to upskill, their biggest bottleneck wasn’t just learning, it was opportunity. That led us to work with universities, providing alternative education pathways. But even that had its limits, for institutions move slowly, and the real decision makers in education aren’t always the learners or the universities but the employers.
That’s when we transitioned into corporate upskilling, helping companies build learning programs for their employees. This unlocked a new scale of impact, but it also revealed yet another gap: Many professionals weren’t advancing in their careers because they lacked access to financing for further education. So now, we’re exploring ways to bridge that gap, looking at financing models that can open up opportunities beyond skill development.
But this kind of evolution isn’t unique to us. Look at companies like Amazon. It started as an online bookstore but quickly expanded into other categories once it understood consumer behavior. Then they built AWS, realizing that infrastructure, not just e-commerce, was the real moat. Today, they’re in everything from cloud computing to AI. Product-market fit for Amazon wasn’t about selling books—it was about solving consumer problems in the most efficient way possible.
Finding Your True North Beyond Product-Market Fit
The companies that scale impact and stay relevant over time don’t just focus on their initial product-market fit. They focus on their true north. The core problem they are solving, regardless of the product itself.
As yet another example, take Tesla. Many people think Tesla’s product-market fit is about selling electric cars. But if you zoom out, Tesla’s true north is about accelerating the transition to sustainable energy. That’s why they’re not just building cars—they’re developing batteries, solar solutions and even autonomous driving technology. Their market will evolve, but as long as they stay focused on that bigger mission, I believe they’ll continue to redefine their place in the industry.
Think of the core problem you are solving, independent of a single product. What deeper need are you addressing? Are you solving a problem that will persist in different forms?
Steps To Success
Instead of seeing product-market fit as a singular milestone, founders should think about it as an evolving relationship with their market.
First, stay hyper-aware of consumer behavior. What your customers need today might not be what they need tomorrow. The best companies constantly test, listen and adapt.
Second, don’t fall in love with your product—fall in love with the problem you’re solving. Products will change, but the core mission should remain clear.
Third, always be thinking about how your market will evolve in the next three to five years. If you’re not iterating ahead of the curve, someone else will do it for you.
Evolving Beyond Product-Market Fit
Product-market fit isn’t a finish line. It’s an ongoing process of learning, adapting and scaling impact. The companies that win in the long run aren’t the ones that find product-market fit and stop.
Whether you’re running a tech startup, an education platform or a financial services company, I believe the key to longevity is understanding that product-market fit is just one part of the journey. The real goal should be to build a business that can adapt, evolve and stay relevant no matter how the market shifts.
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