#37 - Business models, business models, business models
Most of the people I work with are starting or looking to start their own product. E-commerce, SAAS products, and services which leverage tech - different models you name it.
I’m reminded this week that many people are trying too hard to ‘boil the ocean’ when they should be growing their product user by user. Move fast, IMO is validating quickly by getting a prototype out and validating you’re on the right track. If you change 10 things instead of 1 at a time then it’s difficult to understand which levers are driving your success. Some C-Levels at Goodlord shared the fact that they lost sight of their per customer economics in this pod and they semi-admitted they needed to refine their value proposition.
Founders are the first product people and they also need to think about building the right team early on, understanding where the money is spent and p
Food for thought: Think of how E-commerce has changed because of Shopify, Instagram, Facebook, etc. It’s 10 times easier than back in the day because you can target people based on their interests rather than standing by a train station or in a busy city centre hustling people and trying to identify who potential customers are.
Let's Build Great Products
Here's some Kickstarter Data I got access to
Insights show that they back a lot of Innovative and Disruptive models such as Games and Design. In Tech it was mainly Hardware and Gadgets that got the backing and Shorts Films got backing too!
There is no correlation that the number of backers you have is an indication of success, but it could be a good source of early funding.
Sunday Reads
Something Ventured
This video was recommended to me a couple years ago and it still tells how the story of how Funding meets Product.
Highly recommended
I came across some business models from the big boys that I wanted to share. This is more illustrative than anything.
Enjoy
Taking a slice of all economic activity
Connect with everyone
Uber everywhere
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Helpful Tool(s)
First Search - The best tactical advice in tech
First Round - the VC firm that focuses on Seed stage put together this curated list of cross-discipline topics to advice those in Tech.