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Joined June 2010
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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.๐Ÿงต
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If you work with British people, this guide might come in handy... #british
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Is there one factor that influences a founder's success above all else? Maybe it's this: ๐˜ˆ ๐˜ญ๐˜ช๐˜ง๐˜ฆ ๐˜ฑ๐˜ข๐˜ณ๐˜ต๐˜ฏ๐˜ฆ๐˜ณ ๐˜ธ๐˜ฉ๐˜ฐ'๐˜ด ๐˜ธ๐˜ช๐˜ญ๐˜ญ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฐ ๐˜ฃ๐˜ข๐˜ค๐˜ฌ ๐˜บ๐˜ฐ๐˜ถ - ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฃ๐˜ข๐˜ฃ๐˜ญ๐˜บ ๐˜ง๐˜ฐ๐˜ณ ๐˜ข ๐˜ฅ๐˜ฆ๐˜ค๐˜ข๐˜ฅ๐˜ฆ - ๐˜ต๐˜ฉ๐˜ณ๐˜ฐ๐˜ถ๐˜จ๐˜ฉ ๐˜ฃ๐˜ฐ๐˜ต๐˜ฉ ๐˜ต๐˜ฉ๐˜ช๐˜ค๐˜ฌ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ช๐˜ฏ. #flowers #Thanks
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Think about tracking 3 categories of KPI: #1. ๐†๐ซ๐จ๐ฐ๐ญ๐ก: in which direction are total customer no's and revenue tracking? #2. ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง ๐š๐ง๐ ๐ซ๐ž๐ญ๐ž๐ง๐ญ๐ข๐จ๐ง: how is each customer performing? #3. ๐„๐Ÿ๐Ÿ๐ข๐œ๐ข๐ž๐ง๐œ๐ฒ: are you reducing the cost of your growth?
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Can't believe it's already September. Happy Friday!
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According to the founder of Match, the best VCs may be looking for these 8 startup traits. Have you considered them? #startups #howtoraisemoney #seriesA
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What's more valuable to thee than this? #time
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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...
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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
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20. Most companies don't die because they run out of money 21. Be nice! Or at least donโ€™t be a jerk 22. Get sleep and exercise - take care of yourself
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Some of my favourite insight on building a moat came from Jake Saper from Emergence Capital (I'm paraphrasing):
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03. ๐“๐ก๐ž ๐›๐ž๐ฌ๐ญ ๐ฌ๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ 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.
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04. ๐ˆ๐ง๐œ๐ž๐ง๐ญ๐ข๐ฏ๐ข๐ฌ๐ž ๐ฎ๐ฌ๐ž๐ซ๐ฌ 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.
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"๐˜๐˜ต'๐˜ด ๐˜ด๐˜ฐ ๐˜ถ๐˜ฏ๐˜ง๐˜ข๐˜ช๐˜ณ. ๐˜๐˜ฐ๐˜ธ ๐˜ค๐˜ข๐˜ฏ ๐˜ต๐˜ฉ๐˜ฆ๐˜ด๐˜ฆ ๐˜จ๐˜ถ๐˜บ๐˜ด ๐˜ณ๐˜ข๐˜ช๐˜ด๐˜ฆ $100๐˜ฎ ๐˜ธ๐˜ช๐˜ต๐˜ฉ ๐˜ฏ๐˜ฐ๐˜ต๐˜ฉ๐˜ช๐˜ฏ๐˜จ ๐˜ฎ๐˜ฐ๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ข๐˜ฏ ๐˜ข ๐˜ฅ๐˜ฆ๐˜ค๐˜ฌ, ๐˜ธ๐˜ฉ๐˜ฆ๐˜ฏ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ง๐˜ช๐˜ต๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ข๐˜ฏ๐˜ช๐˜ฆ๐˜ด ๐˜ญ๐˜ช๐˜ฌ๐˜ฆ ๐˜ฐ๐˜ถ๐˜ณ๐˜ด ๐˜ค๐˜ข๐˜ฏ'๐˜ต ๐˜ฆ๐˜ท๐˜ฆ๐˜ฏ ๐˜จ๐˜ฆ๐˜ต ๐˜๐˜Š๐˜ด ๐˜ต๐˜ฐ ๐’Ž๐’†๐’†๐’• ๐˜ถ๐˜ด?!"
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There's a great quote that's goes something like this: "VC is 99% telling people no, and 1% begging founders to let you invest."
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Your job as a founder is probably not to compete against Mistral AI; it's to be better than all the other companies that are similar to yours. Godspeed.
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