✨ A underrated strategy used by a few very successful founders is Innovating ahead of the curve! 🚀
Sam Altman's bold move with Loopt, seizing the opportunity when Apple had just launched its maps and most of Loopt's features were very futuristic back then, exemplifies the power of foresight in tech #entrepreneurship. A testament to the prowess of being an early mover in an evolving market landscape. 💡
Sam Altman also, once again proved with OpenAI's success, the importance of visionary thinking and daring execution in shaping the future of technology.
#innovation#TechTrailblazers#StartupSuccess#OpenAI
Founder of corporate accelerator Start it X and startup accelerator Start it @KBC, the largest startup accelerator in Europe, supporting over +1.600 companies. Connecting people. Connecting dots.
I was mentioned in the post of Maarten Verschuere - Tech Speaker Moderator where there was the following statement:
"Homework is the thing that is keeping our kids from becoming billionaires."
I am an art collector, and in the arts, starting in the 19th century, the marginal artist-living-under-the-bridge has been romanticised as the only way you could be considered as a 'real' and 'authentic' artist. This image still lives in many minds of people today. I feel the same romanticising is happening here with entrepreneurs-dropouts.
First of all, I believe that not generalising is proof of maturity. A college degree isn't a necessity to become a successful entrepreneur. But not having a college degree isn't a necessity either. For some it worked, for others it didn't. Maybe it would be better for conversations like these to have the data on the amount of kids dropped out to start a company versus the success rate of these cases?
By the way, Sam Altman is brought up as an example, but with his first startup Loopt he joined the accelerator Ycombinator in 2005, which could be considered as the best entrepreneur school you could get as a tech founder at the time. So he didn't stop learning and accumulating knowledge, or surrounding himself with the right network.
Some people are blinded by the few 'success stories' of those who dropped out, and then using that as an argument. It isn't related for me.
The average age of founders in Start it Accelerate | @KBC is over 35. 60% of them had a corporate career before making the 'jump'. And the success rate can be linked to the age of the founders. Not only in Belgium by the way. To be clear: I don't link the narrow aspect of 'age' with 'success'. I do consider what these people have learnt and built in these extra years: a network, maturity, capital, stability, expertise, grit, self awareness, confidence, and maybe even some frustration ;-)..
I truly believe that entrepreneurship, future and exponential thinking, creativity, collaboration (especially focussed on diversity in project/homework/school teams, self awareness, resilience...) should MUCH MORE be part of the school curriculum. We learn our kids to reproduce, not to be creative and entrepreneurial with what they learn. And that's also because our teachers are not trained enough to do so either, nor do they have the freedom to operate or time/mental space. So it's not their "fault". It's a societal-visionary problem.
To conclude, honestly, if there would be homework tackling these issues, so our kids could become much more equipped for future challenges, I would very much applaud that.
Tara ReidStart it Accelerate | @KBCAlexander De CrooPeter HinssenRik VeraJürgen IngelsSven MastboomsBen Weyts
Just F'n Build. Bringing together builders to amplify their ambition and help them succeed at whatever it is they are doing. Usually, it's tech. Some of it venture path. Lots of it isn't. Everyone is building something.
Talking to some founders yesterday about doing an actual demo in your pitch and they thought that just isn't something people do.
I think that is true. A demo is rarely in a pitch deck template. But. If you are early I don't think it hurts to start off focusing on who is the customer and follow it with what you are building. The longer it takes you to get to that point. The less likely people are paying attention.
Universities indeed provide a foundation for learning, yet it is through real-world experiences, mentors, and the entrepreneurial journey that we truly learn how to think critically and innovate. Those who dare to think differently become the disruptors shaping the narratives of our ever-evolving world. Embrace the power of disruptive thinking and continue to redefine the status quo!
My best fundraising advice to founders:
Weaponize your cap table.
Here's what I mean:
Raise from strategic angels who can open doors and become an extension of your sales team.
They'll help you break into key networks and audiences.
At Haven, we raised our pre-seed round from 40+ elite investors including:
-Anthony Pompliano (Pomp Investments)
-Charlie Feng (Clearco)
-Lauryn Motamedi (Isford) (Notion)
-Eric Bahn (Hustle Fund)
Why?
We wanted people in our corner who could help us reach every founder and entrepreneur. To build a massive company, you need advocates to help you bang down doors.
Fundraising isn't just about the money.
It's about assembling a dream team of supporters who believe in your vision.
When you have the right people on your cap table, you can tap into their expertise, networks, and resources to fuel your growth.
Pro Tip for Founders:
Don't send your pitch deck right away!
Give investors a sneak peek to spark their curiosity and ensure you're only talking to those genuinely interested.
Think of it as a movie trailer for your business!
Thanks Gautam Kapur and Puneet Malik, for the wisdom!
A pitch deck is the one of the most important documents for a founder in their fundraise journey.
At Chanakya we believe that founders should not send their pitch deck right away. Instead, send a “sneak peek” to spark investors’ interest. This ensures you’re getting on a call only with those who are genuinely interested in what you are building.
Gautam Kapur | Puneet Malik#pitchdeck#fundraise#venturecapital
First-time founders maynot know when to raise funding:
⏱️ Earliest time: Problem/Solution Fit
Investors today don’t fund product development but traction (aka paying customers).
Problem/Solution fit is when you validate demand for your product and go from hoping people will buy to knowing they will.
What they buy: Promising pipeline with tangible customer commitments
🚀 Optimal time: Product/Market Fit
Before product/market fit, your goals and your investors' goals are misaligned.
You need to learn, and they want growth. After product/market fit, you both need and want growth.
What they buy: Repeatable and scalable business model with 10x growth potential.
👊 Ideal time: Almost never :)
Bootstrap all the way and build a profitable and scalable business powered by happy customers.
Rarer, but possible, if you prioritize building Camels over Unicorns.
P.S. Camels can/do still raise money, but for strategic growth, not survival.
Credits to Ash Mauria, Guillermo Flor
#fundraising#fundwise#fundraisingtips#firsttimefoundertips
Ready to crush your fundraise in 2024?
I’ve spent the last decade helping founders access capital and have built a methodology for growing and cultivating a strong investor pipeline.
Join me on Thursday, January 11th in conversation with The WIE Suite to hear my top tips for entrepreneurs to stay organized and focused on the fundraising trail 🔥 🔥 🔥
#fundraising#venturecapital#femalefounders#everywherevc
A pitch deck is the one of the most important documents for a founder in their fundraise journey.
At Chanakya we believe that founders should not send their pitch deck right away. Instead, send a “sneak peek” to spark investors’ interest. This ensures you’re getting on a call only with those who are genuinely interested in what you are building.
Gautam Kapur | Puneet Malik#pitchdeck#fundraise#venturecapital
Aravind, thanks for sharing!