It's been over a month now since I quit my job, packed up my life in San Francisco and relocated back to South Florida to co-found a business.
Our big idea is looking better than ever and we've gathered awesome feedback from those close to us as well as from knowledgable people we've met through those close to us.
In addition to the reassuring conversations we've had with people in the industries we are entering (tech/retail/fashion), the media pieces that have been coming to our attention have been confirming our major assumptions for the business in a way that is almost suspiciously encouraging.
That said, we've also learned a few lessons so far which I hope you might find helpful
1. Success is measured by the number of yes's you get
• We realized early on that for us to succeed we'll need employees, designers, and investors to say "yes, I'd like to work with you"
• We'll also need customers to say "yes, I'd like to buy your product"
• Simple, but nobody ever put it that way in school
2. There's energy well-spent and energy poorly-spent
• There are 300 million people in the U.S. If each of them got only a minute-long pitch, we'd be spending >570 years just pitching people. That's not even doing "work"! (Did the quick math on my iPhone... hope that's correct)
• The solution is to selectively choose a handful of people every week (for me the upper limit number is currently 2/day) who are each worth spending the energy required to engage in a real discussion of the concept; otherwise we'll wear ourselves out
• Note: we've found an hour to be the best length of a pitch/meeting. Not too short and not too long.
3. It's a race, but more so a marathon than a sprint
• We want to be the first to market with our business model, but not a moment too early
• It makes sense for companies which are purely tech companies to get a beta out there as early as humanly possible, gather feedback, then improve and iterate. The costs of this are lower.
• Our business doesn't have the luxury of a full blown launch for the sake of immediate iteration. We're gearing up for a launch that will reflect everything we need to know, and putting all the pieces in place takes time.
So yeah, that's all I got for now, hope it's helpful!