In the last week At an early stage virtual event, founders and investors shared some of their best insights into building startups and what they’re looking for in their next investments. We have compiled a collection of insights that cover various elements of entrepreneurship from a handful of founders and VCs:
- Jess Lee, partner at Sequoia Capital in identifying your customer
- Garry Tan, managing partner at Initialized Capital looking for the right problem
- Ann Miura-Ko, co-founder of Floodgate product market adjustment
- Ali Partovi, neo-founder and CEO on hiring
Jess Lee, Partner, Sequoia Capital: Start with your customers
Jess Lee has a whole framework for describing customers as if they were characters in a movie.
“The way you think about it is a fictional character that represents a certain type of user who could use your product or company or brand in a certain way,”
A more scientific method is to view your customers as a cluster of data points. The persona that arises is at the center of this cluster.
“So when you map out all the possible customers, you usually see these clusters and then describe who the person at the center of this cluster is,” said Lee.
What makes a good person is someone who feels useful but also unforgettable for product design. That means creating a person who has a clear story with real pain points, she said.
“And that’s the most important thing,” she said. “What interests you and what problems are you trying to solve?”