BINCS Framework: How to prove founder-market fit

Hi! I’m glad you’re here. You’ve made it to issue #31 of VC Demystified🪄.

My name’s Nicole - I’m a Principal at an early stage venture fund, and I know firsthand that VC can often be a black box. Breaking into the industry may feel daunting and resources can seem scarce and inaccessible. I wanted to put together a newsletter to give others the playbook I wish I had when I first started.

There seems to be more activity happening in the VC space lately. I’m seeing more new fund launches, new VC job openings and more startup deal activity! All positive signs. Hopefully this sustains into the new year.

Today’s deep dive: How to build conviction that a founder is the right person to be solving a particular problem

My personal mission is to open as many doors as possible for other people and this newsletter is just one avenue to do that. As always, I will continue to post VC insights daily across my socials for those of you who prefer those channels.

How to build conviction that a founder is the right person to be solving a particular problem

Early-stage venture capital is all about founders.

Investors want to back someone uniquely positioned to solve a particular problem.

But how do you prove you’re that person?

Or if you’re an investor, how do you prove to your team that the founder you’re evaluating is right for the job?

Here are five key ways to demonstrate why you are the perfect fit:

1. Builder Mentality

• Have you built something from scratch before? It doesn’t have to be a business - it could be a non-profit, a club/community, a program, etc.

• Are you a repeat founder or someone who has shown initiative by creating projects, teams, or systems?

• Even non-business endeavors can demonstrate that you’re a self-starter with the grit to tackle big challenges

2. Industry Experience

• Have you encountered this problem firsthand?

• Do you have a deep understanding of how the industry operates?

• Unique insights or prior experience in the space can set you apart and make investors confident in your ability to execute

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