Chris Gammil and I just spent some quality time together with a new, private group that is advising start-ups in Los Angeles. The goal is to have start-ups learn from each other and from others who have been through the experience. So, far it's turning out great. The primary question we ask is:
What's Keeping You Up at NightChris provided a list of common issues:
- How much is enough? - how much 'traction' is enough for investors? and how much is enough to build solid traction to drive the right valuation to go for large money?
- Who should I get involved? - beyond the obvious 'more great engineers' who do I invite to the party and when - when do I need legal, when do I bring in complementary skill sets, how do I decide between employees vs contractors, which roles need to be core and what can be outsourced.
- What is 'good enough'? - when should I open the doors and let people in? how much product development is enough to get in the market and start getting feedback and what should I focus on in the early stages of the product?