Startup founders have boundless ambition. Most founders can imagine their platform concept having broad appeal and meeting the needs of many customers, with numerous products, often across many markets. Investors love to hear about platforms and big visions for success. This ambition is contagious but also very dangerous.
I once showed a company to an investor for an investment we were syndicating. This investor loved the team and thought the solution they were building was compelling. Ultimately, this firm passed because they couldn’t get comfortable with the “market size” given that they were a big fund and only targeted $1B+ opportunities.
Editor’s note: James Altucher is an investor, programmer, author, and entrepreneur. He is Managing Director of Formula Capital and has written 6 books on investing. His latest book is I Was Blind But Now I See. You can follow him@jaltucher. I’m in even worse trouble now. A few weeks ago I had to speak at Barry Ritholz’s […]
The once-stable incomes of America’s biggest earners now fluctuate dramatically from year to year. And as go the rich, so goes much of the economy.
It’s time that we all re-read Geoffrey Moore’s book, Crossing the Chasm. Seriously, stop whatever you’re doing right now, download a copy to your kindle, and spend the next 3 hours reading.
Share61 In a two-party political system like we have in America, the fight is always over the middle. The hard-lefts vote Democratic, the hard-rights Republican, even if they don’t know the candidate, even if they don’t like the candidate, because it can’t be as bad as that other guy who is even further removed from their ideology. […]
Before we start going deep into SaaS Math, it’s important to level set on terminology. So without further ado, here are the key terms used. If you think I have missed any, please let me know. AARRR: A pirate war cry or more importantly, an acronym coined by Dave McClure to summarize the flow of SaaS […]
Lesson #9: Treat angry customers with respect, they could turn into your biggest fans
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