An MC's Perspective: Startup University @ Collision Conf 2019
As an MC you get to exercise the discipline and privilege of listening deeply to what speakers have to say. Here are my 12 key takeaways from the range of brilliant talks at the Startup University stage.
“Being good” as an afterthought is a thing of the past. In order for a brand to succeed, it must build ethical values into the business model - and then deliver on those values everyday.
- Trust has become imperative; trust has been gambled away in the growth markets of recent times.
- Hello Alfred is a business built entirely on trust: enough to allow themselves through people’s front doors.
- Any startup should have only one customer they are dedicated to. For Hello Alfred, that customer is the Home Manager -who, when well looked after, can in turn build trust with the end user.
- There is a need to balance growth with customer experience: short-term goals can compete with customer experience; invest in customer experience for long-term growth.
- Raise what you need, and not more. Build a self-reliant model where consumers vote with their dollars instead of VC money.
- Don’t give away equity to fund your marketing - explore new financing instruments such as Clearbanc.
- A female founder’s strength is the ability to imagine ecosystems, and connect the dots… Female investors also tend to have long-term vision, and the courage to invest in the world of generations to come.
- Questions venture capitalists ask of founders: Is there a compelling vision? Can it scale? Is there long-term competitive advantage? Does the founding team have the passion, drive and energy to grow the business into a success?
- A strong founder believes in something to be true that the rest of the world hasn’t yet realized... In the case of Handy, it was ‘home services will be huge.’
- This involves taking that one idea and dedicating the time to proving and disproving it. Investors get excited about that future state and sense of inevitability that a founder can create.
- A VC’s time is more valuable than their money. Time, chemistry and a shared belief in your startup's mission is what counts.
- As a founder, be a good listener and be coachable. Be honest, humble, and don’t ‘sell’ to your investors.