VC Minute Weekly Recap: Eric Marcoullier
Eric cuts to the heart of the matter on overbuilding, fundraising and more.
This week’s guest was Eric Marcoullier, someone I feel fortunate that I’ve been able to get to know through the Colorado ecosystem.
In his own words:
“Eric coaches first- and second-time tech CEOs, keeping their companies alive long enough to get lucky, figure out their business, find product/market fit and replace his ass with someone who knows how to scale companies beyond $5M in ARR. His work primarily involves challenging business assumptions, providing frameworks for new situations, and distilling complexity down to basic, actionable ideas. If you'd like to learn more about his coaching, visit www.marcoullier.com or www.linkedin.com/in/bpm140.”
If you’re in Colorado, he hosts a fantastic monthly dinner for founders & funders.
My three takeaways from this week:
1️⃣ Remember that startups are experiments and to run a proper experiment you have to minimize the variables. Likewise, minimize features when starting to understand if you’re solving a problem.
2️⃣ Stay focused on building a lean MVP, even if it you acquire technical debt. Remember the “fail whale”?
3️⃣ A VC’s job is not to write checks. This makes me laugh, but ruefully so. Understanding a VC’s short term goal (i.e., to find a reason to say “no”) will help you prepare your approach.
Thank you to AVL Growth Partners for supporting VC Minute!
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Episode Summaries
187. CEO Has Three Responsibilities
The CEO is responsible for three things: communicate the vision, hire great people, and don't run out of money. But it all boils down to just one thing.
188. #1 Killer of Startups
Founders are efficiency-seeking missiles, which is what compels them to start businesses, but it's a double-edged sword.
189. Features Don't Sell Products
If you aren't getting positive feedback from the market, don't start adding things. Strip the product down to its core, basic value prop.
190. A VC's Job Is Not To Write Checks
A VC's job is to say "no." Now knowing that, how do you adjust your approach?
191. The Purpose of the First Meeting
Just as the purpose of the deck is not to get a check, it's to get the first meeting. The purpose of the first meeting is... to get the second meeting.
Do you know someone that needs to hear this week’s advice? Share it with them!