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Anyone can make an app or write a book or make a WordPress theme or plugin. In fact, there are tens of thousands of products on sale, for each of the things I mentioned. Are all of them successful? No way! Many are abandoned as the business side is a failure, and they have no traction. We can say that 1% of products are highly successful, and another 9% falls into the range of products that do not have a stratospheric success but are not even a failure: a modest success.
This fits the famous Pareto principle with 90⁄10.
Vilfredo Pareto, an Italian engineer and economist who lived on between 1800 and 1900, is famous all over the world for identifying a sort of rule that appears in many forms in many different areas:
Most of the effects are due to a limited number of causes
- 80% of wealth is owned by 20% of the population
- 20% of sellers make 80% of sales
- 80% of the value of the warehouse is determined by 20% of the total items.
- 20% of products on a marketplace capture 80% of revenue generated.
- 80% of a product’s success comes from having the right product-market fit.
Marc Andreesseen defines product-market fit as follows:
Product / market fit means being in a good market with a product that can satisfy that market.
Your product must meet the needs of a niche, solving a problem.
Unless they are part of the benefits communicated to the customer, technology, details, how you implemented it are of no interest to anyone if the product does not solve a problem worthy of being resolved, and if there is no marketing activity which can make the product known to the market it targets.
Warning to programmers: be uncool.
Be careful in choosing a completely new programming technology or language just for the sake of it, to create your product, as you’ll have to waste a lot of time learning it, you don’t know its limits and pitfalls, and you’ll shifts the focus from the product to the implementation details, which do not matter to anyone except you.
More lab tutorials:
- The stack I use to run this blog
- 8 good reasons to become a software developer
- SEO for developers writing blogs
- Review of the book The 4-Hour Work Week
- Build a lifestyle business
- Build your own platform
- As an indie maker, what kind of product should you build?
- Create your own job security
- Developers, learn marketing
- The freedom of a product business
- Generating value
- Have a purpose for your business
- The idea is nothing
- The niche
- Remote working for software developers
- Product / market fit
- The best podcasts for frontend developers
- Why should I create an email list?
- Disconnect time from money
- The scarcity principle applied to software products
- The social proof principle
- How I added Dark Mode to my website
- My notes on the Deep Work book
- The pros of using a boring stack
- How to estimate programming time
- On going independent as a developer
- How to learn how to learn
- Why interview questions for programming jobs are so difficult?
- Do I need a degree to be a programmer?
- Everyone can learn programming
- How to be productive
- How to get the real number of pageviews of a static site
- Have you filled a developer bucket today?
- How I record my videos
- All the software projects I made in the past
- Tutorial purgatory from the perspective of a tutorial maker
- Every developer should have a blog. Here’s why, and how to stick with it
- Having a business mindset for developers
- How to write Unmaintainable Code
- What is Imposter Syndrome
- How to work from home without going crazy
- How I prototype a Web Page
- You should be the worst developer in your team
- How to start a blog using Hugo
- Write what you don't know
- How to block distractions using uBlock Origin
- Coding is an art
- I wrote 1 blog post every day for 2 years. Here's 5 things I learned about SEO
- Dealing with the fire
- On being a generalist
- The Developer’s Dilemma
- My plan for being hired as a Go developer. In 2017
- Productivity gains of using a Mac and an iOS device
- How to go from tutorials to your own project
- This is my little Digital Garden
- How to start freelancing as a developer
- Sharing the Journey Towards Building a Software Product Business
- Subfolder vs subdomain
- How I use text expanding to save time
- Software is a superpower
- I love books
- How I decided to create a new projects management app
- On using IndexedDB as the main database