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Favorite startup frameworks I've discovered on the following topics:
- Recruiting
- Fundraising
- PM-fit
- Community
- Recruiting
- Fundraising
- PM-fit
- Community
Recruiting: It's important to get the first 10 hires right b/c each employee will replicate themselves 10 times. Take ur time
Since you can't compete w/ Google, you want to find ppl Google isn't chasing after but have even more talent & grit
Like drafting Tom Brady in 6th round
Since you can't compete w/ Google, you want to find ppl Google isn't chasing after but have even more talent & grit
Like drafting Tom Brady in 6th round
Talent arbitrage opportunity:
Find people who are excellent at their craft but struggle at self-presentation or public speaking.
Others will write them off before seeing what they have to offer—and you get to harness them for their skill & either hide or improve that weakness.
Find people who are excellent at their craft but struggle at self-presentation or public speaking.
Others will write them off before seeing what they have to offer—and you get to harness them for their skill & either hide or improve that weakness.
These time horizons affect the people you hire:
When you're 3 months old, you need to hire people who can come in and contribute right away. You don't have the luxury of not doing so.
When you're 3 years old, you can take more bets on people who will mature overtime.
When you're 3 months old, you need to hire people who can come in and contribute right away. You don't have the luxury of not doing so.
When you're 3 years old, you can take more bets on people who will mature overtime.
When fundraising:
It’s helpful to consider the biggest reasons an investor might *not* invest, and pre-emptively address those reasons.
If you’ve solved for them, point to evidence.
If you haven’t, point to how you’ll address them, and the moat you’ve built to date.
It’s helpful to consider the biggest reasons an investor might *not* invest, and pre-emptively address those reasons.
If you’ve solved for them, point to evidence.
If you haven’t, point to how you’ll address them, and the moat you’ve built to date.
When fundraising:
Ask in the beginning:
"Do you believe there will be a multi-billion dollar co in the space?"
If no —> don’t go further until yes
If yes —> here's our unfair advantage and why now (instead of 5 yrs ago or 5 yrs from now)
Ask in the beginning:
"Do you believe there will be a multi-billion dollar co in the space?"
If no —> don’t go further until yes
If yes —> here's our unfair advantage and why now (instead of 5 yrs ago or 5 yrs from now)
When fundraising:
After pitching, one thing you may try—under the context of your improvement—is asking them to role play as if they were pitching your biz to their partnership
If they don’t pitch it well, that may tell you something. Conversely, you may prefer their phrasing
After pitching, one thing you may try—under the context of your improvement—is asking them to role play as if they were pitching your biz to their partnership
If they don’t pitch it well, that may tell you something. Conversely, you may prefer their phrasing
Product Market Fit is the idea that is your product is so good you should start investing in more acquisition channels.
NPS & PM-fit scores can be powerful as they measure intent: https://twitter.com/eriktorenberg/status/1243469928507658240…
Retention might be best way to measure (actions speak louder than words)
NPS & PM-fit scores can be powerful as they measure intent: https://twitter.com/eriktorenberg/status/1243469928507658240…
Retention might be best way to measure (actions speak louder than words)
Metrics that matter:
Early on, quality over quantity metrics. (e.g. retention)
50% or 10% long term retention matters more in the beginning than user growth rate.
DAU matters if you require specific use cases
It's less "can this get users" & more "can it keep them...+ paying"
Early on, quality over quantity metrics. (e.g. retention)
50% or 10% long term retention matters more in the beginning than user growth rate.
DAU matters if you require specific use cases
It's less "can this get users" & more "can it keep them...+ paying"
How to build community:
Bring people around *value* - some common utility that solves their problem—
And then hook them with values - get them opening up to each other so they feel connected.
*Value* is acquisition, *Values* is retention.
Bring people around *value* - some common utility that solves their problem—
And then hook them with values - get them opening up to each other so they feel connected.
*Value* is acquisition, *Values* is retention.
How to build community:
Vulnerability is huge.
The most popular discussion in forums is often:
"If you knew everything that you knew now, would you do or become X again?"
Onboard all community members w/ friendly self-disclosure rituals
Vulnerability is huge.
The most popular discussion in forums is often:
"If you knew everything that you knew now, would you do or become X again?"
Onboard all community members w/ friendly self-disclosure rituals
Deeper dives on all of these and more: https://twitter.com/eriktorenberg/status/1249955291149434880?s=20
