Real Founder Lessons
Product-market fit isn’t rational
(at minute 15:43)
Founder Lesson
There isn't a topic that interests me more than product-market fit. In the 2007 - 2010 timeframe I went from a lifestyle business (where I could fool myself that it was high-growth) to a high-growth startup (where you didn't have to wonder if it had product-market fit) and that transition completely changed the way . . .
It's all about love (not likes)
(listen to the whole thing)
Founder Lesson
There's only been two times that I've referenced a podcast in one of my blog posts, but not referenced an exact moment for the reader to listen to hear the lesson. First there was this one and today I'm going to do it again. In both instances the podcast has so many good lessons throughout that I would encourage . . .
Share your idea with lots of people
(at minute 15:43)
Founder Lesson
A few weeks ago a first-time founder emailed me to meet-up. One of my favorite things is meeting new founders, so I'm always excited to get emails like that. However my enthusiasm quickly declined when I read this at the end of his email...
"Please see the attached mutual NDA and let me know if you have . . .
Good ideas have to look terrible
(at minute 11:35)
Founder Lesson
Someone from a large company was asking me recently how I evaluated new startup ideas. They asked in a way that made me think of Shark Tank. I suspect that he expected me to say something like "I look for a strong technology patent" or "there has to be a big vision for a big market."
How I think . . .
Make customer value prop one simple thing
(at minute 22:51)
Founder Lesson
Over the past week I've had two meetings with founders where I gave the same advice...
You need to identify and pin point the one magical thing that your startup will do for consumers.
This is common advice given to founders, but why?
A few thoughts...
1) Doing one thing great is . . .
Every startup is a series of pivots
(at minute 0:33)
Founder Lesson
Last week I was having dinner with a founder who had a very good exit for his startup. Halfway through dinner he begins to reminisce about the journey. It is well-known that this startup had four distinct (large) pivots, but his narrative didn't describe it that way. Because he was the person on the front lines of this . . .
Everything you always wanted to know about validating B2C startups (but were afraid to ask)
(at minute 8:57)
Founder Lesson
Yesterday I was talking with a first-time founder about the process of validating her B2C startup idea. Before she even decided to pursue her idea she did a survey with a bunch of consumers asking basic questions about the space and their habits.
People responded as she expected, so she decided to go all-in.
. . .