What does great product leadership look like in the early days of a startup?
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Product-Market Fit, Focus, and Fast Signals: Q&A with Dave Wascha
We recently sat down with Dave Wascha, Operating Partner at AlbionVC, to dive into what great product leadership looks like in early-stage startups. From avoiding common product mistakes to spotting product-market fit (PMF) early, Dave shares hard-won lessons for founders navigating fast-moving markets.
Breakdown of key topics covered below:
1. Talk to Your Users—Seriously
The most common product mistake? Not talking to customers enough. “I’m constantly surprised at how long some founders and product teams go without speaking to their users,” says Dave. “There’s no excuse—access is easy. If you’re not doing this, you’re flying blind.”
2. A Simple Lens on PMF
Dave offers a refreshingly straightforward take on product-market fit: “If you can predictably get someone in your ICP to engage, listen, and try your product—you’re 80–90% of the way there.” But retention is the real test. “Churn tells the truth. You only truly have PMF if you can keep users coming back.”
3. The Power of Focus
Great product leaders, he says, have one thing in common: relentless focus. “It’s easy to chase vanity metrics or build for the next fundraise. But the best founders stay laser-focused on solving user problems and delivering real value—not just investor optics.”
4. Scale Brings Tech Debt—Plan Accordingly
One of the most painful lessons early teams learn? Rushing to scale without thinking about infrastructure. “Most teams hit PMF, then sprint. Six months later, they’re stuck in tech debt and can’t ship. Once you see traction, pause and invest in building for scale before it breaks.”
5. Build Less, Learn More
When asked whether he leans toward speed or scale, Dave chooses signal. “Early-stage teams waste engineering time on mediocre ideas. Build the least possible to learn the most. Interview, prototype, observe—then commit.”
Rapid Fire with Dave
- Favourite AlbionVC portfolio company? “That’s like choosing a favourite child!”
- Ideology? Neither speed nor scale—“as little as possible for max signal.”
- B2B product you admire? Slack—“Unintentionally brilliant strategy; loved by devs, paid for by enterprise compliance teams.”
- Book rec? The Hard Thing About Hard Things by Ben Horowitz.
