The Initial Team
- Find a partner who has complementary skills to yours.
- Give up a large percentage of the company. It’s worth it.
- Do not create a 50/50 partnership. While 50/50 sounds like an ideal, it actually leads to real pain if there is no easy way to break a deadlock.
- Founding teams should never grow beyond six until there is a true product-market fit(PMF).
- PMF is having created a product that customers are finding so much value in that they are willing to both buy it and recommend it later.
- Metrics that show whether PMF has been achieved include: revenue, renewal rates, NPS (net promoter score).
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