Ann Miura-Ko is a co-founding Partner at Floodgate. A repeat member of the Forbes Midas List and the New York Times Top 20 Venture Capitalists Worldwide, Ann was also named the “Most Powerful Woman in Startups” by Forbes.
Discover a few of the articles most essential points below.
Two Stages of Building a Billion-Dollar Startup:
- Value-seeking stage: Focus on delivering new value to an ecosystem
- Growth-seeking stage: Accumulate customers en masse with increasing speed and predictability
The Importance of Inflection Insights:
- Inflection insights help identify industry shifts and opportunities
- To succeed, your insight must be anti-consensus and correct, exponentially impactful, and durable and defensible
Reaching Product-Market Fit: Build a Minimum Viable Company
- Create Product Value:
- Understand the job your product is hired to do and excel at it
- Ensure your product delivers more value than it costs
- Create as many "WTF moments" for customers as possible
- Ecosystem Fit:
- Understand the entities and dynamics within your industry ecosystem
- Analyze money flow and information flow within the ecosystem
- Assess how your entry will alter the ecosystem
- A Viable Business Model:
- Develop a pricing and margin structure
- Establish a customer acquisition strategy
- Create a customer success plan
- Test pricing even before reaching product-market fit
Achieving product-market fit requires building a minimum viable company with a strong product value, ecosystem fit, and viable business model. By focusing on these elements, founders can lay the foundation for a unicorn-level startup.
You can read the full article here: https://www.beondeck.com/post/minimum-viable-company
