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Education
I have spoken to a few very early stage startups that are tackling big markets like healthcare and travel. Big markets have appeal since you only need to get a few points of market share to make a whole lot of money. They problem with big markets is that you will face big competitors who...
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One of the biggest issues you need to address is, are you solving the right problem? Have you found a real problem that you can solve? Lots of founders start by trying to solve a problem they have seen in their own lives in a way that they would want it solved. This can work,...
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One of the most common reasons we reject a deal for potential investment is a belief that the company is attacking too small a market. Look, not every company needs to change the world and be worth tens of billions of dollars to be a great win for you and your investors. However, if we...
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When starting a new business, you want to be sure that you are addressing a business problem that you are the single best person on the planet to solve. One way that VCs like to express this concept is with the term founder market fit. It’s one of my personal favorite things to look for...
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You probably have a business idea rattling around in your brain. It is probably making so much noise that you can’t think of anything else. You are sure you have the killer idea to make the next huge business hit. That is fantastic, but before you start throwing people and resources into your new obsession,...
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As a startup founder you are going to be hearing the word “no” all the time, so you better have thick skin and be prepared to deal with this. You can expect to be told “no” by candidates you want to hire and also from potential investors, customers, and partners. If your first instinct when...
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Entrepreneurship is really hard. There are going to be lots of difficult times that will test your resolve. A common trait of most good startup founders is a deep personal belief that you can do it. Self-confidence is critical to success building a business from scratch. Knowing you can win will sustain you in the...
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One of the worst parts of being a founder is that the job is 24/7/365. There is no punching out and going home when you start a business from scratch. Sure, there is down time and slow periods, but you need to be ready to be on call at all moments if you are going...
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In this post, I want to make sure you fully understand the economics. Every new founder thinks they are going to have a hugely successful exit and make millions, or even billions. However, the reality is that the early days of startup life are tough. You get to bestow the title of CEO and Founder...
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The best startups are usually run by a founder that has experienced a problem in their own life and is looking to solve that problem for themselves and others like them. A fire to find a solution and bring it to the world is a powerful driving force that can help a new business in...
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