6 - Founder Market Fit (by Jeff Bussgang)

On the topic of founder market fit, there are two views. There's the conventional view that the only way you can achieve founder market fit is by having deep domain experience and some sort of earned secret that you develop over years and years of immersing yourself in a particular sector. And then there's the view that I think your LTV faculty subscribe to, which is that in reality, winning founders can be outsiders. And they do that by effectively doing their homework, hiring domain expertise around them in the form of advisors or co founders or other teammates, and then just taking an outsider's point of view and looking fresh at an industry. As our faculty colleague Reza Satchu likes to say, it's really less about founder market fit and more about entrepreneur fit. Do you have the attributes, attitude, and underlying motivation that makes for an effective entrepreneur.