Focus your time on the right investors
(at minute 6:42)
I remember the first time that someone experienced told me some version of this advice...
"Don't waste your time with that investor...they don't invest in your type of startup."
"Don't waste your time with that investor...they aren't that active."
"Don't . . .
What's your unique insight?
(at minute 14:01)
The more time I spend around startups the more I value the origin story of the founding team. And I’m not alone here. Pay attention to the VCs that you most respect. When you listen to them interview startup founders and the founders immediately launch into a product demo or describing traction, you’ll often hear the . . .
Be skeptical of customer feedback in the idea stage
(at minute 12:34)
Lately I’ve been been working closely with a group of startup founders in the idea stage. In other words, they know the space they want to focus on, but don’t have the complete business model ready to validate.
During this stage, customer feedback is always tricky. I’ll never argue against talking with potential . . .
Creating an early-stage startup brand (when you are bad at brand)
(at minute 6:07)
Over the years I’ve developed a very specific playbook for my own startup ideas. Determine what is most likely to be a 10x better product in a space. Once that’s been tested, layer a very strong brand on top of that product. There are many playbooks to be successful…this is mine.
Put as simply as possible, the . . .
Why does it take at least a year to get traction?
(at minute 8:27)
One of the counterintuitive things about startups that most fascinates me is how long they take to see even the smallest bit of true traction. A while back I wrote my first blog post on this topic and it’s one to the topics that I expect to re-visit a bunch in future blog posts.
I believe that this timeline is so . . .
Best to market will always beat first to market
(at minute 31:28)
Startups have lots of worries on a daily basis. Big worries that immediately to mind are (a) running out of money, (b) building the correct product and (c) hiring the right people. Another big, macro worry is how to think about competition, particularly how much to worry about getting your product launched before anyone . . .
It's really hard to get minimum viable product right
(at minute 24:01)
Since product-market fit is maybe the most important step in a new startup, deciding what to test and what initial product to create becomes pretty important. I find that most founders do the “kitchen sink” method of including everything. This methods takes too much time and money. Another group goes the Lean Startup route . . .