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Good point - finding domain expertise for product/market fit is super important. However, that's not something that is solved purely by capital. It also takes
by got2surf 9y ago
Good point - finding domain expertise for product/market fit is super important.
However, that's not something that is solved purely by capital. It also takes a lot of time (in practice, you need potential customers to describe their problem multiple times over multiple meetings, since what they think they want, what you think they want, and what really solves the problem take time to converge). For our company (applying ML/NLP in the customer feedback domain), finding domain experts willing to contribute their guidance took a while, but has been one of the most important things we've done.
- FLUX-YOU 9y agoYou can shovel developers and PMs and QA at the problem, but if it's a greenfield project, (IMO) you're more likely to have people stepping on toes and vying for territory which can be fatal to a startup. Even if they don't fall to that, time/quality/money is the usual trade-off trifecta, but as long as it solves the problem, extra quality may not necessarily matter. That's where you get into laying out MVPs and getting your customers to agree to buy that MVP and what bells-and-whistles they can live without for a first product. Customers absolutely need iterations to think things through. In fact, that's my default approach now because trying to get everything right for the first meeting is extremely unlikely. Capital does buy you time and iterations.