The First Publication
This is a test post.
Having launched over a dozen hotel technology products in the last decade I’ve experienced some success, lots of failures and learned a thing or two in the process. One of the most important lessons learned is finding the product/market fit for a hotel technology startup.
I’m going to use Marc Andreessen's definition of Product/Market Fit for this article. He defines it as:
“Product/market fit means being in a good market with a product that can satisfy that market.”
— Marc Andreessen
The issue with hotel technology is that “hotels” is not a market. It is a vertical but it isn’t a market. Within hotels there are various markets, such as Revenue Managers, General Managers, Marketing, Online sales, Direct revenue, Online Distribution, House keeping, Food and Beverage Managers and more.
The market, in case there is any doubt, are the people — not the department. But even within the titles above there are various markets, which is the size of hotel, the country, state, independent or chain and within that there are other markets.
The product is relatively clear for a start-up, it’s what you’ve built. In some cases it’s a service in most others it is purely an application/software.