Love this: Fred Wilson’s five rules for product/market fit at startups. I can almost always spot the MBAs pitching me — there’s zero obsession.
- Early in a startup, product decisions should be hunch driven. Later on, product decisions should be data driven.
- Hunches come from being a power user of the products in your category and from having a long standing obsession about the problem you are solving.
- Domain expertise to the point of obsession is highly correlated with the most successful entrepeneurs in our portfolio.
- Ideas that most people derided as ridiculous have produced the best outcomes. Don’t do the obvious thing.
- Monetization should be native and improve the experience for users.