Entrepreneur lessons from a venture capitalist - I read a great article on product market fit. A must read for every entrepreneur
What if you don't have Product/Market Fit?
Encourage founders to continue to talk to customers, care about their customers, learn about their problems, and solve them effectively
Most founders seek ineffective shortcuts to achieve Product/Market Fit (PMF) i.e. hiring a ton of engineers, bringing on senior executives, running after key partnerships, etc. These shortcuts never work.
If you don't have Product/Market Fit, keep your burn low, and keep iterating fast with a lean team. You may get pressure to spend from your VCs (this usually happens), push back hard
If you haven't reached Product/Market Fit, avoid growing your team above 10 people. Post-raising a seed round, most founders are tempted to grow the team. Smaller teams can adapt/iterate much quicker
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