1 Oct 2022| ONPASSIVE
Why Founder-Market Fit Matters For Your Startup?
The discussions on Founder-Market Fit are focused on the more tangible concept of industry expertise. There are four signs of Founder-Market Fit that need for startups. Those four signs are
Let’s discuss each sign in detail. But before going into the details let us know the significant role a founder should follow for a successful startup
The founders should not start a company unless they didn’t do it unless they can’t sleep at night, and your brain is running with an idea. Founder-Market Fit means you should work on your idea in your free time. You have to work smoothly with your products and customer issues.
Even you don’t know how time is passing with this thing.
It’s where you see out there in the world and going to make that into existence. Founders founded the world-class, iconic companies to the level of obsession as it prepares them to tolerate a long gap to build a company without losing faith in it.
You can become a founder if you have this type of obsession, not merely thinking to move Silicon Valley and become an entrepreneur and live that lifestyle. But, you should be healthy by something deep inside. It will be best if you create something as a creative which explores inexplicably with the market. And knowledge is a healthy obsession.
It’s surprising why founders haven’t taken the time to go deep into the market and know everything about building a similar business to compete with current competitors and future potential competitors.
Founders should consult and talk with 10 to 30 experts who already in the market of what they are targeting. Founders should make tactics by researching and studying everything about their competing companies, including the market’s failed companies. It helps you to make a clear strategy and quickly.
Founders don’t love their market and not enough to be a real Founder-Market Fit if there is a lack of such attention. It is somewhat hard to study others if you want to build a company in the market that doesn’t exist yet but keep in mind that it is impossible to study.
2. Founder story:
Customers search more about who is the company founder rather than founders realize. A real founder should fit with the market that is with the customer and vice versa. Customers should identify the founder’s story and believe that there is something unique inside the founder, and there is a human behind the company.
You can have an example of influential founders, Steve Jobs. Apple customers have famously identified the founder story. It shows how customers rely on Apple products on an emotional level. Apple customers identified the founder story as a creative and genius, also credited similar goals to themselves.
Next, we can see Mark Zuckerberg, who influenced all college campuses with Facebook acceptability. Zuck is also a college student who wants to use technology to improve things, which helps college students mostly regarding social lives.
LinkedIn, a trustworthy business where Reid Hoffman is a part of the PayPal mafia and also a high-status Silicon Valley insider.
Markets attract customers with their personalities. Are you the one with the personality which fits in and makes connections with potential customers in your market? The personality traits include dress, rules and regulations, passion, interests, and many that tend to merge with professionals’ clusters.
It brings some positive energy, practical advice, and constructive feedback, which is more essential if you connect with the customers. Most innovation makes people forming networks with high density and competes with the people in your market. It is the main reason why Silicon Valley remains the dominant force in tech startups.
The other example of a personality fit with the market is Mark Zuckerberg. Time Magazine suggests Mark is the perfect person who built Facebook and his personality makes him desperate to automate human interaction.
For Founder-Market Fit, the experience is also an essential factor. You understand how much experience is required to evaluate how experience is influencing the Founder-Market Fit.
Too much experience is also not a good sign. Founders having enough industry experience and how they understand the market are the perfect ones. But, too much experience is not required as it disrupts all.
You get a lot of knowledge if you stay too long in one sector. And you don’t see the fresh or new things to do.
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