Listen to this article
Don Valentine (founder of Sequoia Capital) use to say, “If you walk in to door and you can not describe your business in a single declarative sentence then you probably have a bad idea!”
Clarity of purpose
Cisco was a good example, they walk in to door and they say, “We connect networks!” That’s it. Very clear exactly what they did.
LinkedIn founders: “LinkedIn is the professional social network for finding jobs, business development opportunities and networking with people.”
YouTube company purpose: “To become the primary outlet of user generated video content on the Internet, and to allow anyone to upload, share, and browse this content. ”
What Sequoia Capital Look For In A Startup:
Spectacular Market
Right market is probably one of most dominant criteria Sequoia Capital look for.
Alleviate Customer Pain
Our best and most famous companies Cisco, Yahoo, Google, Dropbox etc. – it is a case where the entrepreneur solving a problem they have themselves and it’s just happens millions of people have that same problem.
Cisco
There was husband and wife at Stanford university running the networks and couldn’t get computers talks to each other and they build the box connect it to – first Cisco router!
Dropbox
Drew Houston hated mailing files and after repeatedly forgetting his USB flash drive he began making something for his personal use, but then realized that it could benefit others with the same problems.He created Dropbox.
Team DNA
DNA of startup get set in first 90 days, and once set it is really hard to change.-don’t screw it!
Based on:
Mike Goguen presentation @ Wharton Entrepreneurs Workshop
Activate Social Media:
