My regular Saturday morning blog post "Lessons from Elad Gil and High Growth Handbook" is now up at 25iq.com/2018/07/28/les… Gil is a successful entrepreneur, investor, writer and coach. The book is written by someone who knows the subject matter very well. Highly recommended.
“There are only 3 things that kill pre-product market fit companies. These are self-evident, but founders tend to forget them. To not die you need to: (1) Find product market fit. (2) Resolve co-founder conflicts. (3) Don’t run out of money. Everything else is noise.” Elad Gil
"Since product is what caused initial success, founders often think product development is their primary competency and asset. In reality, the distribution channel and customer base derived from their first product is now one of the biggest go-forward advantages." Elad Gil
"If you have a high margin, negative churn business and a good acquisition funnel, you will do great 99% of the time. The 1% is due to competitive pressure. If you grow fast but keep churning you will die. Recurrence is key unless you are monetizing via a secondary mechanism."
“Going through hyper-growth is very chaotic. Things are going to be messy. If a business is growing rapidly, you are working in a different company every six months.” @eladgil contrasts his 1st experience with hyper growth at Google vs hyper growth at Twitter (2nd time = easier).
"The best signal of product market fit, differentiation or moat is the ability to raise prices repeatedly without losing customers. Fake customer signals include: Customers who won’t actually pay for your product." Saying ‘this is really interesting’ isn't paying for a product.
