๐ Helping experienced professionals launch startups without leaving their job. Talks about startups, innovation, investing, and doing what you love.
At least two of my business partners, past and present, are self-made multi-millionaires. I've also invested in and worked with dozens of hugely wealthy, successful people. Here are 42 pieces of advice for my children that I've learned along the way.๐งต
Think about tracking 3 categories of KPI:
#1. ๐๐ซ๐จ๐ฐ๐ญ๐ก: in which direction are total customer no's and revenue tracking?
#2. ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐๐ง๐ ๐ซ๐๐ญ๐๐ง๐ญ๐ข๐จ๐ง: how is each customer performing?
#3. ๐๐๐๐ข๐๐ข๐๐ง๐๐ฒ: are you reducing the cost of your growth?
VCs are great for people building world-changing companies, but what about people building successful SMEs? That's what we're focusing on at DQventures.
#funding#venturecapital#SME
20. Most companies don't die because they run out of money
21. Be nice! Or at least donโt be a jerk
22. Get sleep and exercise - take care of yourself
Since 2005,ย @ycombinator has invested inย over 4,000ย companies that have a combined valuation of over $600B.
Here's what they consider their most important, most transformative advice for startups...
16. Startups can only solve one problem well at any given time
17. Founder relationships matter more than you think
18. Sometimes you need to fire your customers (they might be killing you)
19. Ignore your competitors, you will more likely die of suicide than murder
04. ๐๐ง๐๐๐ง๐ญ๐ข๐ฏ๐ข๐ฌ๐ ๐ฎ๐ฌ๐๐ซ๐ฌ to share their proprietary outcomes data with you by offering preferential rates and/or by providing them with access to outcomes data from other users.
03. ๐๐ก๐ ๐๐๐ฌ๐ญ ๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ฒ for obtaining proprietary data is to have a lot of people using your product. Pick a pricing strategy that encourages usage, like value-based pricing as opposed to charging per seat, which can actually deter usage.