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Nuggets:
- When you build a business realize that your community of clients may be more valuable than the money they give you. You can always build additional products and services that they need. But without an audience, you have no business.
- It’s okay to provide different amounts of compensation to co-founders based on their needs at a given time, but it’s also useful to start with an even share of the company.
- Communications add-ons for LinkedIn is still an underserved niche.
Action Steps:
- Choose to focus on a very simple product first: LinkedIn Inbox integration with Gmail.
- Create a landing page and collect emails of interested folks.
- Connect with technical co-founder(s) (or sales and marketing co-founders if you are technical)
- Start building with a small equal share investment from your co-founders
- Realize you are building an audience as you gain users. Focus more on the relationships and building it than monetization and your initial idea.
- Add features and build relationships with team members at LinkedIn to make sure you are not stepping on their strategy and to seed the prospect of acquisition by LinkedIn at some point.
- Grow your users and grow your features through feedback and rapid iteration.
Links:
- lemlist: Your Go-To Cold Email Software & Outreach Automation Tool
- Contact Center Software Market Size Report, 2021-2028
- Front - Customer Communication Platform | Team Email
- TechCrunch Twilio confirms it is buying Segment for $3.2B in an all-stock deal
- Paul Graham on Earnestness
- Territory Foods
- CookUnity: A Chef Collective
Guillaume is the Co-Founder and CEO of lemlist, a personalized cold email sequencing software. In 3 years, lemlist went from 0 to $8 million ARR and 10k+ customers worldwide, without any funding. His mission is to help 1,000,000 entrepreneurs to build a profitable business by 2025.
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