Food For Founders #57
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Founder Education
This section is meant to help you grow as a leader, manager, or entrepreneur.
15 Things to Consider When Developing Brand Strategy
Author: Forbes Council
Quote #1 : “There’s nothing more important to success than identifying the ideal client you are excited to serve and showing up in an authentic way that speaks to them.” - Laura DeCarlo, Career Directors International
Quote #2: “…daily evaluating of the strategy with respect to the market reality and making course corrections is very important.” - Avinash Anand Singh, Blue Dot Transform Consulting Pvt LTD
Business Strategy
This section is designed to help you improve your skills as a strategist and tactician.
Why Margin Matters Now In Startup Land
Author: Tomasz Tunguz
When we are looking at companies to invest in with KnowCap. It is not lost on us how disciplined we have to be about comparing projected vs. realistic metrics for a company.
We may have a founder come in with bloated ideas of what they need to succeed and we have to tamper those and ask them to examine their numbers as a true operator - not someone who thinks launching a company is "fun".
That's why I love this piece. It is highly tactical. It isn't a high-level strategy, but intentional in asking founders to re-examine their cost structure and why it is designed the way it is. Runway is a tricking thing, there are a lot of things that contribute to constricting or expanding it. Margin is one of them.
Mental Snacks
This section was created to introduce ideas that may not related to starting a company, yet is important to your success as a founder.
Prototyping User Experiences
Author: Ward Andrews
I won't dig too far into this, but it is one I wanted to include in this edition of Food For Founders.
Many times when we are building out an idea, it is a knee-jerk reaction to want it built out completely before taking it to a customer. This is not the way to do it. Especially if you are cash-strapped and at the earliest stages.
Ever see that graph about how companies fail on Crunchbase? It basically says not having a market-fit is two of the top 20 reasons (it's also number one). By building out a prototype and making sure that users even care about what you want to build, you are ensuring that you aren't stuck building something that will be scrapped later.
That's how we've shifted KnowCap's Exchange program and how I think companies at the earliest stages should be examined so that there isn't a solution looking for a problem.
Around The Startup Ecosystem
This section was built to update you on important events, opinions, or pieces happening in the world of startups.
How to Cultivate Community During a Pandemic
Author: Bo Ren
I like this piece because it brings us back to center. Bo went out and found some experts in the field who give really great advice to people who are considering throwing proverbial spaghetti against the wall...hoping something sticks.
In reality, it may need to be about differentiation. Before, the biggest thing that set events apart, in the past, is location and cost (not just tickets, but everything involved in attending the event).
What happens when people can access any event as long as the ticket price is affordable?
The world has become a mall of events. There are so many options and you really need to separate yourself by building brand and unique experiences (especially if you are starting from scratch). Competing by being the only game in town doesn't work the same way anymore...add some swagger to it!