How To Break Into the Startup Ecosystem (Stanford GSB Talk)
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6 months ago
Published on Apr 21, 2024
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Table of Contents
Step-by-Step Tutorial: How to Break Into the Startup Ecosystem
1. Choosing the Right Company to Join:
- Look for a midsize company with growth potential, ideally with 40 to 50 employees growing 2-3 times.
- Seek interesting work in expanding organizations where you can take on new challenges.
- Consider companies that have raised a follow-on round of financing in the last 12 months, typically Series B or later.
2. Identifying Interesting Roles in the Tech Ecosystem:
- Understand the importance of the customer in a company.
- In technical product companies, engineering plays a crucial role in understanding the customer's needs.
- Product roles are significant in consumer fintech companies, focusing on user interaction and engagement.
- In B2B companies selling complex solutions, roles like sales, sales engineering, and customer success are vital.
- Even with a non-technical background, skills in positioning, listening to customers, and understanding their needs are valuable.
3. Breaking Into Venture:
- Consider moving to the Bay Area to immerse yourself in the startup ecosystem.
- Join a midsize company with growth to build a network and gain credibility in the industry.
- Demonstrate your ability to source interesting companies by building relationships with other investors, especially junior members of top investment firms.
- Over time, as you build your network and gain experience, you can transition into the venture side of the startup ecosystem.
Additional Tips:
- Keep building your skills and network within the industry.
- Consider the roles of product, customer success, sales, and solutions in different types of fintech companies.
- Continuously learn and adapt to the evolving landscape of the startup ecosystem.
By following these steps and tips, you can position yourself for success in breaking into the startup ecosystem, particularly in the fintech industry.