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"All my customers are asking me for Feature X!"

Should you build Feature X?

Not necessarily... it's worth digging a layer deeper to find a better signal 👇
Listen to your metrics, is not having Feature X affecting:
1/ Retention: are customers *cancelling*?
2/ Growth: are customers *not signing up*?
3/ ARPU: would existing customers *pay more*?

All much higher signal because they have an actual payoff for the business.
Every experienced founder has versions of this story where they hear 10x/day "i love your product but I *have* to have Feature X", you build the feature, and it has absolutely no affect on the business. 😣
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More from @tylertringas see all

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Tyler Tringas
@tylertringas
Hi folks, time for a thread with an update on @earnestcapital Fund II. Dig in if you want to learn about building a new fund (ignore if that sounds super boring!)

AMA if you read to the end

👇
We closed Earnest Capital Fund II (or rather we're in the middle of closing + also it's still open, I'll explain below) so hooray we get to keep investing in more founders and proving out our 'funding for bootstrappers' model 🎉
For some back story, we soft launched the idea of Earnest with a blog post in Oct 2018, transparently asking the bootstrapper community to help us design a funding model that was truly built for them earnestcapital.com/funding-for-bo…
Read 12 tweets
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Tyler Tringas
@tylertringas
The concept of “pre-seed VC funds” has been a devastating net negative for entrepreneurship as a whole primarily through misunderstanding (even tho I think the actual strategy has some merit in the game that it’s specifically playing)
Here’s what pre-seed is: 1/ there is a small class of founders that have such an accumulation of unfair advantages that it’s just *obvious* they will generate some amount of traction on an idea and be able to raise a seed round
2/ a mix of entrepreneurial investors + seed investors looking to build a dealflow advantage identified this and created a category for it.

If you’re thinking about SaaS for hotels + you own a boutique hotel + spent 10 years at Airbnb... you’re pre-seed material
Read 9 tweets
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Tyler Tringas
@tylertringas
~1.5 years into @earnestcapital. Re-thinking the idea of an early stage fund from top to bottom (still a work in progress) 👇
Mission: maximize the number of successful internet entrepreneurs in the world (not mostly failures and one big winner) earnestcapital.com/mission/
Investors/LPs: quarterly subscription approach to building a base of angels, entrepreneurs, and real people: earnestcapital.com/quarterly-subs…
Read 9 tweets

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