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0/ Thread: The 10 most interesting VC/startup-related tweetstorms I've read in the last couple months and one key lesson for each ⚡️ 2nd ed., featuring @conniechan @aprildunford @ljin18 @dunkhippo33 @epaley @DCoolican @ericbahn @lpolovets @micahjay1 @wolfejosh
1/ As a future founder (/team) evaluating what to build, go through the exercise of brainstorming what sources of revenue are possible beyond the traditional ad- or subscription- based models. The potential going forward is huge
2/ As the founder of a pre-traction startup, it won't be possible for you to know exactly who loves your product and why: keep your positioning pretty loose. Once traction kicks in, positioning can tighten to appeal to your "best-fit" customers
3/ As the founder of a pre-traction marketplace company (or any co building a new network), "fake it till u make it" can be a great strategy for overcoming the dreaded 'empty marketplace' issue. Be creative (not unethical!) until you reach network effects
4/ As a founder (looking for investors or not), be extremely metrics driven. Understand what levers drive your business; the customer funnel; your segments; how your CAC varies across channels; how to solve bottlenecks in your marketing funnel, etc.
5/ As a founder about to start pitching investors, don't dive into your slide deck preparation too fast (e.g. by using templates). Start by writing fifteen / twenty headlines that sum up your startup & story, and only then build the slides accordingly
6/ As a founder pitching to investors, don't weigh your efforts / enthusiasm based on how nice they are and how they jam with you on your product. Give equal (or higher) priority to the ones that ask the frustrating, hard, uncomfortable questions
7/ As a founder pitching to investors, you may think showing impressive organic growth without having spent a dime on customer acquisition / marketing is great. However, this may scare investors away, as hacks & virality may not scale / have limited life
8/ As a founder who has raised money, you now have a new type of customer: investors. And because customer success keeps customers happy, reduces churn, & increases upsells, do it right with occasional meetings & update emails
9/ As a later stage founder, it is your job to pursue M&A opportunities when the time is right. This shouldn’t be a taboo topic with founders / investors. Laying the groundwork & building a network can have a massive impact on the multiple you receive
10/ As a founder / investor, you'll be constantly confronted with the idea of needing to be a superhuman (e.g. exercise every day, read a book per day, sleep 8 hours per day, meditate, hit inbox zero, etc.). Focus on your long term values & do it your way
