In year one you likely don’t need:
- A fancy office
- A full-time assistant
- An office / ops mgr
- 2000+ sqft of office space
- Fancy furniture
- Lots of employees (> 10)
- Perfect design
What you do need:
A product people love in spite of its flaws.
The rest will come.
- A fancy office
- A full-time assistant
- An office / ops mgr
- 2000+ sqft of office space
- Fancy furniture
- Lots of employees (> 10)
- Perfect design
What you do need:
A product people love in spite of its flaws.
The rest will come.
Just because you have a lot of money doesn’t mean you need to spend it. Save it. Wait till it’s time to grow & scale. Slowly building the right team & rhythm under constraints will benefit you in the long-run. Frivolous spending to appear successful just dilutes you. Be scrappy.
During MP:
- We raised $500K (seed) during the recession
- Later, we raised $1.25M with 70% of the above left
- Later, we raised $10.25M with 80% of the total raised left
- Later, we raised $65M with +$10M of profit in the bank ($22M)
We tried so hard to be scrappy.
- We raised $500K (seed) during the recession
- Later, we raised $1.25M with 70% of the above left
- Later, we raised $10.25M with 80% of the total raised left
- Later, we raised $65M with +$10M of profit in the bank ($22M)
We tried so hard to be scrappy.
Most of the above was accomplished with fewer than 30 employees ranging from engineering to customer support. They were some of the scrappiest, best people I’ve worked with.
A byproduct of being scrappy is it creates really great memories for you & your future team you will all cherish for a long time.
“Remember that time I had to use the tiny dark coat closet because every room was booked & we closed NBC!?”
“Remember that time I had to use the tiny dark coat closet because every room was booked & we closed NBC!?”
