5 Tools for the Man with 500 Hats (that’s you, Dave McClure)
I don’t know where you keep all those hats, man. That’s a lot of hats.
For a guy with 1,500+ investments in startups across 50 countries, keeping track of all those hats must be hard. After all, you’re a busy guy. And you’ve got important work to do building the next generation of startups.
So to help you out in your busy life I put together a few ideas for tools that could be made to improve the lifestyle of someone with so many hats:
- An app to catalog the hats
- A smart closet to store hats and make hat selection easier
- A rating system for deciding which hats are your favorites
- A tracking device for keeping tabs on each hat
- An AI assistant to help pick which hat to wear in the morning
It’s funny how problems appear only at scale — a few hats would never require any of these things.
But 500 hats? That’s a different story.
500 of anything is a challenge.
Simple volume of having 500x of something leads to all sorts of problems. We use tools like Slack and Trello not because they make communication and task organization easier, but because we all have 500 things to do.
There are benefits to scale. This 500 Hats article, for example, presents a compelling argument for VCs to invest on a bigger scale to maximize statistical advantage on returns. But keeping tabs on 500 startups is certainly much harder than keeping up with 5. Just 5 startups can be tracked via email. 500, less so.
Think about it:
An angel may spend 10 minutes a week talking to 5 startups he invested in.
With 500 startups, that’s 16.7 hours /wk just to keep tabs on your investments.
And 1500+? That’s more than a full-time job for one person.
Tools automate. They’re very good at that. And when things scale up, the tools you choose matter more as they produce a greater impact on your business.
So for the person dealing with things at scale, here are a few useful tools to supercharge your business:
1. Send 500 texts — TextUs
Efficiency in communication is key. People respond to texts. Dave McClure can use this app to keep in touch with each of his 3000+ founders. His founders can keep in touch with their customers. Everybody wins!
2. Send 500 tweets — Buffer
For those who haven’t heard of it, Buffer takes the work out of updating social networks. Push tweets, Facebook updates, Linkedin updates, and whatever else, scheduled in advance.
3. Make 500 sales— Infusionsoft
Scaling up a business often means automating processes that make money. Infusionsoft is a powerful way to automate every step of the customer funnel and take the effort out of converting leads to customers. 500 sales is only the beginning…
4. Generate 500 leads — Profile Hopper
Even people like Dave McClure see emails from Linkedin about who views their profile. It’s human nature to take interest in who’s checking you out. Take advantage of that powerful psychological incentive and generate leads for your business by automatically visiting people’s profiles on Linkedin.
5. Check in 500 visitors — The iPad Receptionist
I bet a lot of people walk through the doors of 500 Startups. Here’s a simple way to keep track of them all.
Cheers to the 500 club
So no matter if you’re the man with 500 hats, or someone with just 1 hat, keep it real on the road to the 3 comma hat club. Here’s to you, Dave McClure, for living at scale.