Top 5 Startup Tips from a VC

Top 5 Startup Tips from a VC
Startup tipsfrom a top vc
1. Delight your customer

What do you have without a happy customer? The key to success in business hinges on how clients and customers perceive you. That depends entirely on how well you serve them. Think of a happy customer as a brand ambassador who will go into the world and share the greatness of your product with their network. For free. Because you did your job. Make this a priority.

2. Hire carefully

Picking your cofounder is the biggest decision you’ll make. Walk down the aisle with someone you can trust and someone you know will match you in terms of drive, stamina, and creativity. Inventory your strengths and weaknesses. Be honest with yourself. The last thing you should do is hire 5 clones. Plug those weaknesses, and find people smarter than you.

3. Fail and fail again

Can you spot your mistakes? Every entrepreneur has made plenty of mistakes, you aren’t alone! The sign of a good entrepreneur is the ability to spot them, correct quickly, and not repeat them.

4. Know how to reach your customers

Who is your target market and where are they located? Pick a persona for your ideal client and use this persona frequently when determining how and where to reach your customers. Give her a name, background story, and character traits. When you humanize your ideal customer, locating them in real life is less trying.

5. The best ideas are simple

You don’t have to reinvent the wheel to create a profitable business. Are you cheaper, faster, or better? Be two of these things. The first two things Investor Tim Draper looks at: whether you’re in a billion-dollar market and if you can make big margins.


[Draper University]

May 23, 2016 / by / in , , , , , , , , ,

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