Facts That Founders Are Afraid To Admit: “I Have Entered The Wrong Market!”

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2012/12/24 by lingdecklee

Founders, be honest about it and everything is still not too late!

We all know the term ‘product/market fit’, and we made it our top priority to build the best product for the market we have targeted. In the following article, the writer introduced an interesting term called ‘founder/market fit’, which means the founders have deep domain expertise of the market they are entering and they “personify their product, business, and ultimately their company”.

Finding Your Founder/Market Fit

So you have started a startup for a market which you know little or nothing about. So what?! Just start over. This is not the time to argue perseverance is a good virtue. We can still persevere on the entrepreneurial path, just not for the same market.

Here is a good quote from Paul Graham, who said that the very best startup ideas tend to have three things in common: “they’re something the founders themselves want, that they themselves can build, and that few others realize are worth doing.”

The write of the article also wrote: “A lot of great ideas come from inefficiencies or opportunities the founders have realized from their past jobs and experiences. Usually it is an insight that few people realize.”

In summary, find your founder/market fit first before you start working on the product/market fit.

 

 

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