Two Years of Innovation: 6 Key Lessons About Venture Building from Struck Studio (Part 1)

In the realm of startups and venture capital,  venture studios are unique. While they go by many names - Venture Builder, Venture Lab, Start-up Studios, Start-up Factory - what they have in common is that they are not just investors; they are creators and builders. At Struck Studio, we've embraced this role wholeheartedly. Over the last two years, we've moved beyond traditional boundaries of venture to establish a new standard in startup development that we believe will lead to impactful companies that shape the future.

So, what exactly is a venture studio? At its core, a venture studio systematically creates new companies. It's more hands-on than a venture capital firm and more integrated than an incubator. But Struck Studio isn't just any venture studio. We've taken this model and tailored it to our unique philosophy and approach.  We don't just fund big ideas; we actively build product from scratch and execute early go-to-market strategies allowing us to embed our expertise and resources directly into the DNA of the startups we build.  We’re not just investors, we’re co-founders. 

It's been a journey of constant learning, adapting, and evolving, and we are excited to share what we have learned.  If you are interested in learning about venture studios more generally (history, structures, business models, processes) our partners and peers have published fantastic thought pieces (like Rise of Startup Studios and Disrupting the Venture Landscape from our friends at Morrow).  For our first set of posts though, we’d like to dive right into some of our most important lessons learned in hopes of providing insight and guidance for other entrepreneurs and venture studios ready to build.

Lesson 1: The Importance of a Founder-Led Sales Motion

At Struck Studio, one of the first and most crucial lessons we learned was the significance of a founder-led sales motion. This concept goes beyond the traditional role of founders; it's about being the frontline warrior in the sales battlefield. It's not just about overseeing the process – it's about being deeply involved in it.

Why does this matter so much? Because when founders are directly engaged in sales, it does more than just drive revenue. It builds authentic relationships with customers. Founders can communicate the vision and value of their product like no one else. They understand the nuances, the backstories, and the aspirations tied to their offerings. This intimate knowledge and passion resonate with customers, creating a connection that goes beyond a transactional relationship.

Placing founders at the heart of our sales efforts has led to more than just closing deals. It’s helped us gather invaluable feedback directly from the market. This feedback loop is a cornerstone of our development process, shaping our products to better fit customer needs and expectations.

Moreover, a founder-led sales approach embeds a culture of ownership and responsibility. When founders are out there, hustling and making sales, it sets a powerful example. It instills a sense of urgency and commitment across the board, making every team member feel directly connected to the company's success. 

Lesson 2: Learning from Scars & Embracing Failures

Over the past two years, we've learned to see failures not as setbacks but as stepping stones to greater achievements. While this one may seem a little cliche, it’s easier said than done, and this perspective shift has been crucial. It means genuinely believing that each failure brings us closer to success.

But how exactly did we make this shift? It starts with a mindset that embraces transparency and openness. Whenever a concept doesn’t work, we gather as a team to dissect and understand what happened. We ask questions: What didn’t work? What could we have done differently? This process turns our scars into valuable lessons.

By treating failures as a learning process, we’re building a culture of resilience and innovation. Building start-ups is tough, but we’ve learned that failures are not the end of the road but an invitation to try again.  

Lesson 3: Our Community is Our Competitive Advantage

We've discovered the immense value of engaging our community in our growth and development process. Our community is not just an audience; it's an active participant.

How have we leveraged this community? First and foremost, the Struck ecosystem has been instrumental in driving our Voice of Customer (VOC) research. Through regular interactions, surveys, and open forums, we've gained insights directly from those who matter most - our users. This direct line to our customer base has allowed us to tailor our products and services to their needs, ensuring that we're not just meeting but exceeding their expectations.

But it's not just about gathering feedback. Our community is the backbone of our expert network. It's a rich source of diverse perspectives and skills that we tap into when exploring new concepts or tackling complex challenges. This network has provided us with access to a wealth of knowledge and experience, which has been invaluable in refining our offerings and strategies.

We're also in the process of activating an advisor network within our community. This network will provide mentorship and guidance to our new ventures, further enhancing their chances of success. It's about creating a supportive ecosystem where knowledge, experience, and resources are freely shared.

Without a doubt, our community has become a competitive advantage. It's a dynamic and engaged network that not only supports but also drives our innovation and growth.

Struck Studio

Struck Studio was founded in 2022 and is independently funded by top venture firms from across the United States. They form the foundation of a venture network surrounding Struck Studio companies and entrepreneurs. The studio team partners with talented leaders who bring domain expertise and a point of view to the product to join them as potential co-founders. It is their ambition as a studio to 10x the value contributed by a typical individual co-founder.

Have an idea for a business that you’re interested in building with the Studio? We are always looking to bring great founders into our network and explore ideas together. DM us on LinkedIn to connect with our Struck Studio team!