Consider the cost of joining a paid community vs. the "cost" of a free one.
If you're a founder, writer, engineer, angel, etc; time/attention is your scarcest asset.
The more you value your time, the more you should spend on things that give you leverage on it.
Simple, right?
If you're a founder, writer, engineer, angel, etc; time/attention is your scarcest asset.
The more you value your time, the more you should spend on things that give you leverage on it.
Simple, right?
Tech/startup communities are traditionally VERY under-resourced; "tacked on" to a VC strategy, or reliant on sponsors and volunteers.
Imagine if this weren't the case.
Imagine if:
• They could hire amazing people, pay them well to create/curate incredible experiences.
Imagine if this weren't the case.
Imagine if:
• They could hire amazing people, pay them well to create/curate incredible experiences.
• members were their customers. No "selling out" to external interests (spoiler: a VC's "customer" is their LP; founders are the product).
• participants had skin in the game, were "bought in" to get the most from their investment. See: better engagement, behavior, outcomes.
• participants had skin in the game, were "bought in" to get the most from their investment. See: better engagement, behavior, outcomes.
Paid community customers are buying a premium product.
It's like comparing an iPhone to a public pay phone. Which do you expect will make you more productive?
It's like comparing an iPhone to a public pay phone. Which do you expect will make you more productive?
Living this example: @beondeck "costs" more than all its competitors* in cash terms.
But our Fellows constantly say we should charge more.
Why?
But our Fellows constantly say we should charge more.
Why?
(*Unless you're counting MBAs, they're 100x more 😬)
https://twitter.com/eriktorenberg/status/1253156038745833472
We are building an impactful *business*, because we know that's how we can have maximum impact.
We went from $500k → $5M annualized revenue in the past 6 months.
The team grew 7 → 24 people in the same time, including world class engineering/product.
We went from $500k → $5M annualized revenue in the past 6 months.
The team grew 7 → 24 people in the same time, including world class engineering/product.
https://twitter.com/btaleisnik/status/1312536386285699075
This allows us to create an unrivaled experience. To move rapidly, and execute at a high level across several emerging product lines.
The On Deck team is the best I could imagine — top of their game, can't understate this.
Their work speaks for itself:
The On Deck team is the best I could imagine — top of their game, can't understate this.
Their work speaks for itself:
https://twitter.com/coolnalu/status/1312496906229018625
In turn, this helps us build an even better business.
@pmarca (via @eladgil):
"The definition of a moat is the ability to charge more"
"companies that charge more can better fund their distribution, ongoing R&D"
"companies that charge more therefore tend to grow faster"
@pmarca (via @eladgil):
"The definition of a moat is the ability to charge more"
"companies that charge more can better fund their distribution, ongoing R&D"
"companies that charge more therefore tend to grow faster"
Which helps us hire more amazing people to develop new communities/products; seed new communities; compound the value of the network.
Distribution helps us kickstart new flywheels.
Distribution helps us kickstart new flywheels.
https://twitter.com/beondeck/status/1309171336011542547
And if you're thinking: what about access?
We're solving for that too.
We're solving for that too.
https://twitter.com/beondeck/status/1309563121950838789
If this resonates with you, let us know! We're hiring:
beondeck.com/careers
beondeck.com/careers
https://twitter.com/david__booth/status/1277348588985520129
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