10 Excellent Pieces of Expert Advice for Entrepreneurs from VCs
Larry Kim

10. Don’t Focus on Your Product

“For each investment, I look at three things in the following order:

People — What is the team and what have they done? How have their careers progressed to the point where they are now uniquely qualified to build this business together today? Ultimately, world class founders build world class businesses.

Market — I’m looking for entrepreneurs who are looking to build a business in a massive market. For example, a team that can acquire a small share of a $100B market wins every time over a company that acquires a larger share of a smaller $100M market. Big and growing markets are exciting and create many companies of distinction.

Product — What is the product and what is your go to market strategy? If I’m sold on the team and market, then how is your mouse trap better?”

Bob Davis, general partner, Highland Capital

This is the jewel of the article — 3 points, concisely stated and all fundamental to making it all work. Excellent!

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