Elad Gil, Vinod Khosla
As Vinod Khosla has observed, your market entry strategy is often different from your market disruption strategy. And too many people focus on how small the market entry side is, but the entry point almost definitionally has to be small, because you have to find a space that isn’t covered or saturated by incumbents. If you find a gap and push your way through, often … [ Read more ]
Content: Quotation | Authors: Elad Gil, Vinod Khosla | Source: First Round Review | Subjects: Entrepreneurship, Strategy
Elad Gil
A lot of founders will go to customers and say “Hey, would you want to use this?” And customers will say “That’s great, we’d love to use it.” And so the founders go off and build it, but when then they come back with a product, no one’s using it. That’s because what they should have asked is, “Would you pay for this?” Being interested … [ Read more ]
Content: Quotation | Author: Elad Gil | Source: First Round Review | Subjects: Customer Related, Entrepreneurship, Market Research
Elad Gil
Markets with potential usually have a changing dynamic that allows new players to climb in and make room for themselves. It could be falling costs, new tech or a new distribution channel. Whatever it is, if you’ve heard something was difficult, you can’t just stop there because things have probably changed.
Content: Quotation | Author: Elad Gil | Source: First Round Review | Subjects: Entrepreneurship, Strategy
Elad Gil
As a general rule, when I make investments, it’s market first and the strength of the team second, which is quite different from a lot of other angel investors who are more founder-driven. I think that’s a mistake. Even if you have a strong founding team that’s able to pivot, they’ll probably stay trapped in the market they’re already in. Many great teams get taken … [ Read more ]
Content: Quotation | Author: Elad Gil | Source: First Round Review | Subject: Entrepreneurship
Future Founders, Here’s How to Spot and Build in Nonobvious Markets
For Elad Gil, an important lesson for aspiring founders and investors alike is that nonobvious markets can lead to hypergrowth, but they’re hard to spot in the moment. The trick lies in finding what bucks conventional wisdom before anyone else and scaling that unlikely idea into a high-growth company — something Gil is very familiar with.
In his roles as an operator and angel investor, Gil … [ Read more ]
Content: Article | Author: Elad Gil | Source: First Round Review | Subjects: Entrepreneurship, Strategy