THE 8 questions to answer about Your venture, especially when raising venture capital. Glenn Kelman, CEO of Redfin, online real estate broker, gives excellent answers and insights:
1. What’s your deadly sin?
– You want to be the site people can’t stop using, not the one they should use.
2. Where’s the real money?
– The way to be about your addressable market: not just greedy, but disciplined.
3. What are your unit economics?
– Make sure you hire the right team and invest in its happiness.
4. What are the explanatory events?
– When there are no explanatory events causing revenue growth, you’re just getting lucky.
5. Why can’t you grow faster?
– Most growth limiting factor is probably how quickly one can hire top-notch people.
6. What are the accelerating effects?
– Focus on your most sustainable competitive advantages.
7. What’s your secret sauce?
– Prioritize game-changing features.
8. How do you win?
– The essential job of a CEO is to tell the story about how to win.