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Customer voice should inform product

“There are many inputs into a product roadmap, but the customers voice should inform all of those inputs.”

-Jeff Gardner, Director of Customer Support @ Intercom

Full post here.

 

Build a habit-forming product

“Companies must understand the mechanics of habit-formation to increase engagement with their products and services and ultimately help users create beneficial routines.”

-Nir Eyal, Author of Hooked: How to Build Habit-Forming Products

Full post here.

Niche to win

“The secret is to find your Niche — that initial <customer segmentation + product differentiation> combo that enables you to just barely beat your more established, mature competition with a much crappier product.

This strategy is called “Niche to Win“.

-Dave McClure, Founder @ 500 Startups

Full post here.

How to pick a VC partner

“Pick the partner that you believe is going to help you be your best you and this business be its biggest and best business. Pick a partner that you’re going to be able to work through tough times with and whose advice and counsel you trust. If you can get that person on board, think about that as hiring talent, not accepting an investor.”

-Randy Komisar, Partner @ KPCB

Full post here.

Funding milestones should last two years

“I would advise entrepreneurs to reverse engineer the end state. As a rough rule of thumb, each funding milestone should last two years. One full year to put heads down on building the business and then pick up your heads to fundraise with the intent of closing six months after. That way, you’re never within six months of being out of cash.”

-Eric Feng, Partner @ KPCB

Full post here.

Tips for being an effective growth hacker

  1. Listen and suggest
  2. Be accessible
  3. Use scalable techniques
  4. Deliver content quickly
  5. Roll with the punches
  6. Nurture prospects effectively
  7. Be as niche as possible

-Neil Patel, Co-Founder @ Crazy Egg and Hello Bar

Full post here.

There are only two reasons to raise VC

You should only raise Venture Capital if you (x) have to, or (y) it’s “cheap”.

If you need VC $$$ to survive, don’t worry about it. It is what it is. I needed VC $$$ to get both my start-ups off the ground. So — why worry?

And if VC $$$ are cheap — take the money. By cheap, I don’t just mean price. I mean you can easily generate 5–10x the revenues of each dollar you take in. That the money will be super accretive.

-Jason Lemkin, Founder @ EchoSign

Full post here.

Get away from the screen

“Knowing your customer is important before you can sell anything to them. And it’s hard to do that from behind a screen, even if you’re basing your assumptions on data.”

-Felix Thea, Founder @ TrafficAndSales.com

Approach excellence through testing

“Establishing a culture of optimization really starts with having an attitude of never being satisfied […] We strive for excellence in our work, and we have found that one of the quickest ways of approaching excellence is through testing”.

-Tim Eyre, COO @ Big Leap

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