Life changing advice for startup founders
One of the most important things for startups and for life in general but kind of underated.
When you asking something whether from the community, investors, friends, from anyone.
Always provide some real value. Before you asking them you should give something valuable and you have to tell what they will get if they help you, support you, just be always specific.
Otherwise you'll get nothing but regret. While providing real value opens almost every door. Use it.
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One of the most important things for startups and for life in general but kind of underated.
When you asking something whether from the community, investors, friends, from anyone.
Always provide some real value. Before you asking them you should give something valuable and you have to tell what they will get if they help you, support you, just be always specific.
Otherwise you'll get nothing but regret. While providing real value opens almost every door. Use it.
👇❤️🦄
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How to use reminders
When you ask for help from other founders/connectors and when you follow up after ward intros to investors, frequently people don't respond. This isn't a sign of rejection. Everyone is super busy, traveling, balancing family and work, and could have potentially read your message right before losing connection, jumping on a plane, or doing some other task. The frequency of "dropping the ball" in fundraising is very high.
To counteract, you need to send everyone lots of reminders. I got my previous job (Entrepreneur in Residence at Entangled Group) after a warm intro and *four reminders* before getting a reply. Make your ask super simple, typically, just ask for an indication of interest and readiness to continue the conversation.
Here's a typical sequence of reminders you can use. Space them by 2-3 business days.
*Reminder 1 — Single line, ending in yes/no question*
Hi X — following up to the intro from Y. Would you have time to learn more about our round?
*Reminder 2 — New positive news, brief summary, yes/no question*
Hi X — this is Z from company A again. We do _company description_. Since Y has intro-ed us, we made serious progress on traction metrics N, M, P. The round is still open — would you have time to talk in the next few days?
*Reminder 3 — Last chance, yes/no question*
Hi X — Life is busy! This is my last email on company A after an intro from Y. Is there still a chance you might be interested to consider us for investment?
Generally speaking, once you have a warm intro, an initial indication of interest, or a promise of help, you can do 3-4 reminders until getting the next response.
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Join 120K Unicorn Mafia in one tap
Join 120K Unicorn Mafia in one tap
Join 120K Unicorn Mafia in one tap
When you ask for help from other founders/connectors and when you follow up after ward intros to investors, frequently people don't respond. This isn't a sign of rejection. Everyone is super busy, traveling, balancing family and work, and could have potentially read your message right before losing connection, jumping on a plane, or doing some other task. The frequency of "dropping the ball" in fundraising is very high.
To counteract, you need to send everyone lots of reminders. I got my previous job (Entrepreneur in Residence at Entangled Group) after a warm intro and *four reminders* before getting a reply. Make your ask super simple, typically, just ask for an indication of interest and readiness to continue the conversation.
Here's a typical sequence of reminders you can use. Space them by 2-3 business days.
*Reminder 1 — Single line, ending in yes/no question*
Hi X — following up to the intro from Y. Would you have time to learn more about our round?
*Reminder 2 — New positive news, brief summary, yes/no question*
Hi X — this is Z from company A again. We do _company description_. Since Y has intro-ed us, we made serious progress on traction metrics N, M, P. The round is still open — would you have time to talk in the next few days?
*Reminder 3 — Last chance, yes/no question*
Hi X — Life is busy! This is my last email on company A after an intro from Y. Is there still a chance you might be interested to consider us for investment?
Generally speaking, once you have a warm intro, an initial indication of interest, or a promise of help, you can do 3-4 reminders until getting the next response.
👇❤️🦄
Join 120K Unicorn Mafia in one tap
Join 120K Unicorn Mafia in one tap
Join 120K Unicorn Mafia in one tap
One of the most underrated principles in business, marketing, and life is providing extra value and benefits. Giving more than you receive. The king who mastered this principle and took it to the maximum is MrBeast
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CB Insights_Global Unicorn Club_2024.xlsx
118 KB
According to CB Insights, as of March 20, 2024, there are 1229 unicorn companies worldwide with a total valuation of $3.85 trillion
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5 common mistakes by first-time startup founders 💼
There is no business without mistakes. Especially if this is your first attempt. You feel free to make decisions, but you don't have enough experience yet not to fail.
Undoubtedly, learning from your mistakes is effective. But you can try to prevent them by studying the experience of your colleagues. Here are the most common ones:
1. Hiring full-time employees before product-market-fit. Getting to product-market-fit is the only thing that matters in the early years of your company. Simply put, do you have something that people really love.
Until this point, you will be frantically trying many ideas, sometimes weekly. During this time anyone other than a co-founder will soon get frustrated by the changes of direction and eventually wonder if the compensation they are giving up on elsewhere is worth it.
2. Deprioritizing offshore talent. Saving money is crucial in the early days. The biggest expense is labor and given the quality of talent around the world, and tools to collaborate with them, hiring offshore is the best way to save money early on.
Try looking for employees from lower-affluence countries or regions rather than from world centers and big cities. So you can pay less and get the same results.
3. Holding on to the first idea far too long. Your first idea is very likely going to fail. This may seem like a gross generalization, especially since you probably just quit a job to launch your startup based on an idea you think is very good.
But success with startups usually comes from insights that no one else has. And they are seldom found in a survey but rather learned through failure. So the key to success is to iterate fast through ideas and get those insights quickly.
4. Building a bigger MVP than necessary. Most founders have a grand vision for the solution to a thorny problem. They could create a complete product before finding out people wouldn’t use it.
Developing a mobile app or website needs a lot of resources. Just getting reliable login/ authentication, having useful onboarding, ensuring a responsive layout, etc takes a ton of time and you haven’t even got a feature yet.
Instead, conduct at least a fake-door test: make a landing page with no-code tools, describe your offer, and run ads on it. The number of clicks will show you if it makes sense to work on the idea further.
5. Not having a marketing co-founder. The number one thing investors look for in a startup is a high growth, typically 10% month-over-month or more. That’s because it’s an easy signal for product-market-fit and a business that scales.
But getting to high growth is very difficult and requires constant experimentation with new marketing channels and strategies. A marketing co-founder is essential so that he/ she focuses on growth every day and is not distracted by other things.
There is no business without mistakes. Especially if this is your first attempt. You feel free to make decisions, but you don't have enough experience yet not to fail.
Undoubtedly, learning from your mistakes is effective. But you can try to prevent them by studying the experience of your colleagues. Here are the most common ones:
1. Hiring full-time employees before product-market-fit. Getting to product-market-fit is the only thing that matters in the early years of your company. Simply put, do you have something that people really love.
Until this point, you will be frantically trying many ideas, sometimes weekly. During this time anyone other than a co-founder will soon get frustrated by the changes of direction and eventually wonder if the compensation they are giving up on elsewhere is worth it.
2. Deprioritizing offshore talent. Saving money is crucial in the early days. The biggest expense is labor and given the quality of talent around the world, and tools to collaborate with them, hiring offshore is the best way to save money early on.
Try looking for employees from lower-affluence countries or regions rather than from world centers and big cities. So you can pay less and get the same results.
3. Holding on to the first idea far too long. Your first idea is very likely going to fail. This may seem like a gross generalization, especially since you probably just quit a job to launch your startup based on an idea you think is very good.
But success with startups usually comes from insights that no one else has. And they are seldom found in a survey but rather learned through failure. So the key to success is to iterate fast through ideas and get those insights quickly.
4. Building a bigger MVP than necessary. Most founders have a grand vision for the solution to a thorny problem. They could create a complete product before finding out people wouldn’t use it.
Developing a mobile app or website needs a lot of resources. Just getting reliable login/ authentication, having useful onboarding, ensuring a responsive layout, etc takes a ton of time and you haven’t even got a feature yet.
Instead, conduct at least a fake-door test: make a landing page with no-code tools, describe your offer, and run ads on it. The number of clicks will show you if it makes sense to work on the idea further.
5. Not having a marketing co-founder. The number one thing investors look for in a startup is a high growth, typically 10% month-over-month or more. That’s because it’s an easy signal for product-market-fit and a business that scales.
But getting to high growth is very difficult and requires constant experimentation with new marketing channels and strategies. A marketing co-founder is essential so that he/ she focuses on growth every day and is not distracted by other things.
10.1K
Take a break!.jpg
755.7 KB
Take a break!
Taking just a couple of minutes to gather yourself and daydream can work wonders. Thinking about unicorns (as in magical unicorns, not Uber!) or anything else to take your mind off work can increase concentration for the day and provide energy.
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Taking just a couple of minutes to gather yourself and daydream can work wonders. Thinking about unicorns (as in magical unicorns, not Uber!) or anything else to take your mind off work can increase concentration for the day and provide energy.
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11 Reasons Why Networking is Essential for Any Startup
https://telegra.ph/11-Reasons-Why-Networking-is-Essential-for-Any-Startup-03-25
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https://telegra.ph/11-Reasons-Why-Networking-is-Essential-for-Any-Startup-03-25
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Telegraph
11 Reasons Why Networking is Essential for Any Startup
Building your network is a key component to the ongoing success of your startup. Starting a business is always going to be a difficult endeavor that requires a large number of factors to go in your favor. However, there are many things that you can do to…
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Top 11 soft skills that every entrepreneur should have according to Unicorn Mafia Community
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
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Join 120K Unicorn Mafia in one tap
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
👇❤️🦄
Join 120K Unicorn Mafia in one tap
2.53K
Top 11 soft skills that every entrepreneur should have according to Unicorn Mafia Community
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
Join 120K Unicorn Mafia in one tap
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
Join 120K Unicorn Mafia in one tap
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How to use reminders
When you ask for help from other founders/connectors and when you follow up after ward intros to investors, frequently people don't respond. This isn't a sign of rejection. Everyone is super busy, traveling, balancing family and work, and could have potentially read your message right before losing connection, jumping on a plane, or doing some other task. The frequency of "dropping the ball" in fundraising is very high.
To counteract, you need to send everyone lots of reminders. I got my previous job (Entrepreneur in Residence at Entangled Group) after a warm intro and *four reminders* before getting a reply. Make your ask super simple, typically, just ask for an indication of interest and readiness to continue the conversation.
Here's a typical sequence of reminders you can use. Space them by 2-3 business days.
*Reminder 1 — Single line, ending in yes/no question*
Hi X — following up to the intro from Y. Would you have time to learn more about our round?
*Reminder 2 — New positive news, brief summary, yes/no question*
Hi X — this is Z from company A again. We do _company description_. Since Y has intro-ed us, we made serious progress on traction metrics N, M, P. The round is still open — would you have time to talk in the next few days?
*Reminder 3 — Last chance, yes/no question*
Hi X — Life is busy! This is my last email on company A after an intro from Y. Is there still a chance you might be interested to consider us for investment?
Generally speaking, once you have a warm intro, an initial indication of interest, or a promise of help, you can do 3-4 reminders until getting the next response.
Join 120K Unicorn Mafia in one tap
When you ask for help from other founders/connectors and when you follow up after ward intros to investors, frequently people don't respond. This isn't a sign of rejection. Everyone is super busy, traveling, balancing family and work, and could have potentially read your message right before losing connection, jumping on a plane, or doing some other task. The frequency of "dropping the ball" in fundraising is very high.
To counteract, you need to send everyone lots of reminders. I got my previous job (Entrepreneur in Residence at Entangled Group) after a warm intro and *four reminders* before getting a reply. Make your ask super simple, typically, just ask for an indication of interest and readiness to continue the conversation.
Here's a typical sequence of reminders you can use. Space them by 2-3 business days.
*Reminder 1 — Single line, ending in yes/no question*
Hi X — following up to the intro from Y. Would you have time to learn more about our round?
*Reminder 2 — New positive news, brief summary, yes/no question*
Hi X — this is Z from company A again. We do _company description_. Since Y has intro-ed us, we made serious progress on traction metrics N, M, P. The round is still open — would you have time to talk in the next few days?
*Reminder 3 — Last chance, yes/no question*
Hi X — Life is busy! This is my last email on company A after an intro from Y. Is there still a chance you might be interested to consider us for investment?
Generally speaking, once you have a warm intro, an initial indication of interest, or a promise of help, you can do 3-4 reminders until getting the next response.
Join 120K Unicorn Mafia in one tap
10K
Top 11 soft skills that every entrepreneur should have according to Unicorn Mafia Community
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
Join 120k Unicorn Mafia in one tap
1. COMMUNICATION:
• Listen without interrupting.
• Speak with a positive tone.
• Pay attention to your body language.
2. PERSUASION:
• Identify what other people care about.
• Create stories that resonate with them.
• Communicate those stories with brevity and emotion.
3. NEGOTIATION:
• Listen carefully.
• Understand what the other side wants.
• Know your worth.
• Then propose solutions that benefit both sides.
4. RELATIONSHIP BUILDING:
• Help others unconditionally.
• Look for common interests.
• Always add value before asking for something in return.
5. EMPATHY:
• Take a genuine interest in other people.
• Look at things from their perspective.
• Acknowledge their feelings.
• Never judge and always be supportive.
• Be generous with your time and attention.
6. POSITIVE ATTITUDE:
• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.
7. TEAMWORK:
• Avoid claiming all the credit.
• Celebrate other people's wins.
• Praise teammates publicly and praise them generously.
8. CONFLICT RESOLUTION:
• Avoid arguments and accusations.
• Focus on solutions over problems.
• Apologize unconditionally when it's your fault.
9. EMOTIONAL INTELLIGENCE.
• Never act impulsively.
• Take a step back when you're upset.
• Understand what you're feeling.
• Understand the consequences of your actions.
• Then proceed accordingly.
10. TIME MANAGEMENT:
• Learn to prioritize.
• Learn to delegate.
• Learn to say no.
11. WORK ETHIC:
• Take responsibility for your work.
• Always show up and deliver on time.
• Always keep your commitments
• Never deflect blame on to others.
Join 120k Unicorn Mafia in one tap
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