How ICP and PMF End Up Killing Real Business
Over the past few years, few terms have been used as frequently—or as comfortably—as ICP and PMF.
They sound rigorous. They sound thoughtful. They signal that a team is “still figuring things out.”
But in practice, these words have quietly taken on a different role.
They have become language that allows teams to keep talking without selling, to keep analyzing without pricing, and to postpone responsibility under the guise of strategy.
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Why I’ve Grown Deeply Skeptical of the Term “ICP”
Many teams say:
“We haven’t found our ICP yet.”
On the surface, this sounds reasonable—even mature. In reality, it often translates to something far more specific:
“We are not ready to explain why certain customers pay—and why they don’t question the price.”
Teams rarely fail to identify their ICP. They fail to articulate it honestly.
Because once articulated, uncomfortable questions follow: • Why does this customer not push back on price? • Why do they renew without negotiation? • Why do they tolerate imperfections that others complain about?
These are not marketing questions. They are questions about value, pricing, and accountability.
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The Truth Most Teams Avoid: Your Real ICP Is Already There
In any business that has generated even modest revenue, a pattern exists.
The customers who remain tend to share traits: • They are not the loudest users. • They are not the most demanding. • They do not negotiate aggressively. • They stay.
These customers may not match the “ideal persona” described in decks. But they are the ones funding the business.
Which leads to a more honest definition of ICP:
The customer for whom price does not require justification.
Not industry. Not title. Not company size.
Price friction—or the absence of it—is the signal.
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ICP Is Not a Targeting Exercise. It’s a Pricing Outcome.
Most teams treat ICP as a starting point.
In reality, ICP is revealed after pricing succeeds. • Why does this customer accept the price as reasonable? • Why do they buy more without discounts? • Why do they renew without friction?
Answer those questions, and ICP becomes obvious.
Fail to answer them, and ICP becomes a document—rather than a reality.
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The Myth of Product–Market Fit
PMF is often described as a breakthrough moment. A milestone. A phase you “reach.”
That framing is misleading.
PMF is not a revelation. It is not a ceremony.
It is a condition:
When value and price align so cleanly that price no longer dominates the decision.
No long explanations. No defensive selling. No elaborate justification.
Just quiet acceptance.
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What “We’re Still Looking for PMF” Really Means
In practice, this statement often means:
“We cannot yet explain why our price makes sense.”
So teams build more features. Run more interviews. Refine more frameworks.
But avoid the hardest questions: • Why do we assume we must be cheaper? • Why does pricing discussion immediately become abstract? • Why does “pre-PMF” excuse everything else?
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“Can’t We Just Lower the Price?” — The Most Dangerous Question
Selling cheaply is easy. Selling well is not.
Price-sensitive customers are not loyal customers. They are mobile customers.
If price is the deciding factor, the problem is not the customer—it is positioning.
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When Value Is Clear, Price Exits the Conversation
Teams that reach real PMF notice the same shifts: • Discounts become rare. • Churn becomes predictable. • Pricing power emerges.
That is why confident products eventually raise prices.
And when they do, the customers who stay are always the same ones.
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PMF Disappears the Moment You Announce It
PMF cannot be declared. It cannot be marketed.
The moment it becomes a slogan, it begins to erode.
PMF only exists quietly— when pricing holds without explanation.
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Conclusion
The moment a team says it is “searching for PMF,” it usually means the business has not truly begun.