"I have an executive coach... they've just provided additional perspective that you may not even be thinking of... Increasingly my role as CEO has moved more towards people-oriented challenges."
Takeaway: • Use coaching to gain new perspectives and insights. • Seek support outside of your immediate circle to discuss challenges. • Invest in personal development to adapt to your evolving role."I really don't think founders and CEOs should be obsessing or focusing very much on [competition]. I think the obsession needs to be on the customers, not on the competition."
Takeaway: • Prioritize understanding and serving your customers' needs. • Use competition as a learning tool, not a focal point. • Build a customer-centered culture within your company."It was actually our customers that were pushing us to expand... They were like, 'This is working great in California. When are you coming to Texas and Nevada?' So we had to actually tell our customers... we got to address a few things and then we'll support you."
Takeaway: • Let customer demand inform your expansion plans. • Ensure your product and operations are ready before scaling. • Balance growth opportunities with operational readiness."We made sure we were geographically constrained... for example, in the first 2 years... we were only in California... to build up the supply and demand at the same time in a constrained way."
Takeaway: • Start in a limited geographic area to manage supply and demand efficiently. • Focus resources where they have the greatest impact. • Collaborate closely with early adopters to refine your product."I would spend hours each day cold calling, cold emailing, and got a hold of someone... it's just a conversation. I explained what we're doing... And then she offered to introduce me to her boss."
Takeaway: • Be proactive and persistent in reaching out to potential customers. • Focus on genuine conversations over polished pitches. • Leverage initial contacts to connect with decision-makers."When you have an idea, really think through the market size, think through the competition, and then think through your unique insights... then go deep on the... market research and the customer research."
Takeaway: • Assess market size, competition, and unique insights before execution. • Ensure your idea offers at least a 10x improvement over existing solutions. • Conduct thorough customer research to validate your concept."So essentially we've been working on this idea for a year... we were like, hey, let's just cut bait and change the idea completely, which I came to understand is actually very common in Silicon Valley."
Takeaway: • Evaluate progress objectively and be willing to pivot when growth stalls. • Understand that pivoting is common and can lead to better opportunities. • Listen to customer feedback to guide your decision.