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Earlier this year when I introduced a new executive to their new team , I made a point to say he came from a company you have never heard of in an incredibly crowded market with not much going for it! Well, why is he here and why are we excited about him? Because somehow as an early employee and leader of this company he helped build a $100m business. I found that success to be super impressive.
Now compare this resume to a GM or product or marketing lead at Google or Facebook. If you lead Google Photos or Facebook Messenger for example, you are running a business used by 100s of millions, rolling out all sorts of impressive features and likely driving lots of revenue. And surely you have a wall full of degrees from fancy schools. You are also one of the most coveted resources for anyone hiring for leadership. …
Generally, startups have very few things going for them. No one has ever heard of you. You have no reference customers. Your team is most likely new to business with few credentials.
But, startups have a couple super powerful things that make them win against bigger foes. I think two really matter:
“Our best companies are growing at rates of 3–5x per year. If you aren’t demonstrating that, there better be a reason why you can’t.. and that you can get there at some point. But doubling year over year is just not interesting anymore.” — Jason Green, Emergence Capital
It’s long been known that VCs live off home runs. And the problem is only getting worse. …