Founders often chase severe, 'shark bite' problems that are rare. A more sustainable business can be built solving a common, less severe 'mosquito bite' problem, as the market size and frequency of need are far greater.
If you build a product for a problem that only one customer has, don't just abandon it. Offer to turn it into a high-priced, bespoke solution for that single customer. This salvages the work and creates a profitable revenue stream, avoiding a total loss.
When building feedback tools, recognize that users favor audio. It's easier for multitasking, supports multiple languages, and feels less inhibited than writing. Conversely, video feedback is highly disliked and should be avoided as a primary collection method.
While large language models (LLMs) are powerful general tools, they will be outcompeted in specific verticals by specialized AI applications. These niche products, like Calm for meditation, win by providing superior design, features, and community tailored to a dedicated user base.
Feedback often gets 'massaged' and politicized as it travels up the chain of command. Effective leaders must create direct, unfiltered channels to hear from customers and front-line employees, ensuring raw data isn't sanitized before it reaches them.
A simple framework to evaluate a VC's skill is the four 'D's'. They need proprietary Deal Flow, the ability to make good Decisions (initial investment), the conviction to Double Down on winners, and the discipline to generate Distributions (returns) for LPs.
When a VC reaches out before you're fundraising, don't take the meeting. State that you're busy building and suggest a meeting in a future quarter. This scarcity tactic, or 'negging,' signals confidence and makes your startup more desirable to the investor.
A European founder targeting the US market shouldn't dismiss European VCs. You might be the top priority in a European firm's portfolio, receiving more attention and support than you would as a lower-priority deal for a top-tier, oversubscribed Silicon Valley firm.
High-net-worth individuals often find that owning luxury assets like multiple homes or cars adds significant mental overhead. Every new possession becomes a responsibility, pulling focus away from core business activities, unlike investing in startups which provides joy with less cognitive load.