We believe that sharing wisdom is good for society. Here is some insight that could be helpful to budding first-time entrepreneurs:
- It's less about the idea, more about the team behind it. Thinking outside the box is not difficult. Implementing outside the box, on the other hand, is what will make or break an idea.
- Find experienced entrepreneurs to join your board. If you get them excited, you will learn more than you could ever imagine.
- Launch & iterate. Our experience suggests that there is no such thing as a perfect product. It's about constant testing/improvement, the ability to stand up against challenges, and accept that failure is a part of the process. The earlier you test, the better.
- Practice makes perfect better: Pitch from day one. The more people you pitch your idea to, the sharper your thinking will be.
- Not every company has a sector. Some of the most exciting companies invent their sectors. (credit to @FoundersFund)
- Don't try to stick out of the crowd. Avoid crowds altogether.
This list is by no means exhaustive, and will grow over time. If you have advice that you’d like to share, please email us.