Startup Advice
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Startup Advice
Generally, teams think about switching costs as the amount of time and money needed to install one solution and remove another. But true switching costs are much more than that: they include the politics, emotions, career ambitions, esoteric business processes, competing priorities, and sheer laziness that all favor the existing solution. Those... See more
Jake Fuentes • Lessons learned from a startup that didn’t make it
Two thoughts: The best startups are masters of asymmetric warfare -- they don't fight on the battlefield the incumbent selects. And, users often understand their problems well but are horrible at suggesting features to solve these problems.
Michael Seibeltwitter.comA simple rule of thumb for what makes an idea venture-scale is having a path to $100 million a year in revenue and hitting $1 billion+ valuation , in 10 years . Essentially, can you get big, fast? This is what VCs need to invest in in order to make their fund economics work. Very few ideas can hit this scale, and it’s important that you recognize... See more
Lenny Rachitsky • Your startup idea probably isn’t venture-scale
There’s wisdom to not talking about our goals. See Derek Sivers TED Talk. It could make you feel closer to your achievement than you are. But a spoken goal, the big one you feel in your bones, the one you’re afraid to say out loud because to not achieve it would be crushing. That takes courage. We reward courage by rooting for you. Some people call... See more
Kyle Thiermann • How can people root for you?
I’m not one to build in public, but there’s utility in making sure it’s known how people can root for you.
A PM I once worked with was struggling to persuade somebody of something. I told him to ask them the question, “What data would I have to show you to get you to change your mind?” If they didn’t have a clear answer, then he would know this was an idea they held on faith, a bit like a religious belief. No amount of data can sway a person from their... See more
Deb Liu • Changing Your Mind
If you're the CEO of a fast-growing startup, the mistake you'll make in the next year that you'll regret most will probably be a hiring mistake. Possibly hiring someone established, which you'll feel you should do now you're getting big, and which VCs will strongly encourage.
Paul Grahamtwitter.com