Ben Horowitz recently published his book The Hard Things about Hard Things. It’s no exaggeration to say I love it. As a third-time founder having experienced many of the challenges firsthand, I wish that book had been written 15 years ago, when I was trying to build my first company (although I’m not sure I would have read it back then; learning seems to be easier in hindsight). One of the great things about Ben’s book is that it focuses on sharing the hard lessons when it’s not all smooth sailing.
Inspired by this, I thought I would add some of the lessons from Tradeshift. Just like Opsware, Tradeshift is a company in wartime, as are most B2B companies try- ing to break into highly entrenched software markets controlled by incumbents with ...
In 2008, the world got a new music streaming service named Spotify. It was developed in Stockholm, Sweden, and provided digital rights management-protected content from record labels and media companies. It may have started out as a local thing, but the freemium service quickly expanded. Today, Spotify has more than 140 million monthly active users and over 50 million paying subscribers.
I had the pleasure of meeting up with Andreas Ehn, who was Spotify’s first employee and CTO. Andreas was responsible for the product and platform architecture as well as hiring a world-class engineering team, of which many have gone on to become successful entrepreneurs on their own.
After Spotify, Andreas founded Wrapp — a mobile online-to-offline customer...
When I’m listening to Naveen Jain describing his plan to create big business on the moon, it’s hard for me to grasp that he was once a poor child in India.
Today, Naveen is a billionaire and a very successful entrepreneur. His own recipe for success is, among other things, not knowing much and not being very good at anything. To me, that sounds like the opposite of what business life normally requires, yet Naveen isn’t joking, and his track record proves that he is not wrong either. After all, the young boy that grew up in poverty in India is today changing the world as we know it and has Sir Richard Branson and Google founder Larry Page as two of his good personal friends.
Jonathan: Naveen, I find it so inspiring that you have used entrepr...
Capital raising isn't about pitching investors, it's about getting in front of them to begin with. But how do we get introductions from investors if we don't know any?
We start with forming an Advisory Board.
The suggestion here isn't to form an Advisory Board specifically for raising capital — since there are a ton of benefits to having an Advisory Board. However, as a first step toward raising capital, it makes a ton of sense to surround ourselves with smart, well-connected people who believe in our product but also have been through the very gauntlet we're entering into. In the same way we'd hire a dev team to build an app, why wouldn't we round up a team of smart, well-connected Advisors to build our capital raise?
We don't need to be s...
Founders are rarely prepared for how to handle a legit crisis, like when the whole world turns upside down overnight.
I lived through 9/11 with 700 employees, raised multiple funding rounds in the middle of the 2007 Financial Crisis, and just for "funsies" oversaw the overnight shutdown of a startup with 450 people.
So yeah, I have some experience here.
What I've learned is when crisis hits, a solid approach to communication is one of the single most effective tools we can employ.
In times of crisis, no one wants to hear the sugar-coated version of where things stand.
"Hey Team, I know half of you have turned into flesh-eating Zombies, but the good news is there's way more La Croix for those of you who have survived!"
When it comes to building a startup, you are who you hire. Not only do the people you bring onto your team determine the direction and destiny of your product; they also shape what it will be like to come to work every day. So as you get started on the process of “who” your startup is going to be, we want to make sure you’re thinking about something major: team diversity.
Team diversity refers to differences between members of startup team. Those differences can include demographic differences (like age, race, sex, ethnicity), personality (extrovert, introvert, and differing Myers-Briggs types) and functional (as in skill sets, like engineering, design, copywriting, and marketing).
When we think a...
The investor pitch. It's feared. It's desired. It's terrifying.
But don't worry: We've got you covered. Here's everything you need to know about that all-important investor pitch.
Invisu.me Co-Founder and CEO Donna Griffit is a master pitcher who has helped countless founders distill their pitch down to exactly what they need — and nothing they don’t. She had the opportunity to sit in on a private pitching event where a delegation of startups had the opportunity give a five minute pitch and receive direct feedback from a group of top-tier Silicon Valley VC’s. (So top tier that she can’t even say who was there but, trust us, you will want to memorize this section before your next pitch.)
Here’s what ...
Product design is the entire process of taking a product from idea to customers — and everything in between.
“There’s a widespread misconception that design is all about aesthetics,” product designer Eric Eriksson writes. “Most people don’t seem to understand that it’s about solving problems instead.”
There’s another, more limited, definition of product design which we’re not going to explore in detail here. But basically, that other definition is talking just about how a product looks and functions. For the sake of product design for startups, we’re focusing on the more holistic, process-oriented definition.
While product design is part of produc...
I’m going to let you in on a little secret. I’m not that smart, and yet I’m a pretty good online marketer. I am actually probably one of the better ones out there.
So, how’s that possible? Well, you don’t have to be smart to be the best marketer. Instead, you need to be creative, execute well, and continue to learn from others.
Here’s the process I used to become a great marketer, and here is how you can follow in my footsteps:
When I first started out in the world of online marketing, I didn’t know anything about it. I didn’t know how to edit HTML; I thought MSN was a bigger search engine than Google; and I had no idea where to start.
But the one thing I did know is that there are marketers out there who are a...
It’s a crazy, multi-device world.
According to one report from Facebook, 60% of online adults in the U.S. and U.K. use at least two devices each day, meaning that mobile is at the epicenter of many brands’ marketing, sales, and product strategies.
This trend creates a window of opportunity for companies that are looking to reach audiences at multiple points in their buyer journeys. The challenge, however, is that mass-market tools and analytics technologies haven’t caught up—basic reports in Google Analytics only provide aggregate-level traffic data, for instance. It’s tough to dissect the steps that your audiences are taking to become customers and repeat customers.
Despite this lack of transparency, one concept holds tried and true: you’r...