Arranged with witty office banter, and the weekly team lunches, Lightbox truly reflected what they were here for; to support innovation that enriches lives. With a culture that promotes thinking, questioning and collaborating, their space and their people weren’t here only to be the next biggest VC, there was heart behind it.
How consumers are wooed is going to change in 2017. And a few spaces will have a advantage. Here’s what I see flourishing.
The advice to entrepreneurs is to experiment, fail, learn and repeat. Try things at a small scale and at a low cost, and quickly assess if they work or not and then take a call on what is worth scaling up. The experiments should either stop or continue based on consumer feedback.
During my time at Lightbox VC, I had the freedom to work on things that interested me. I came away from these experiences having a new understanding of the startup ecosystem. However, the value of Lightbox is not only in the jobs you perform but also the people you meet.
When you invest early in a company’s life cycle, there is such a lack of information available, so much of an investment decision at this stage is based on the founding team and prior investing experience. The earlier you invest, the more experience you need.
A company’s product enables its business model and the business model defines the parameters of the product. Neither is permanent in nature; changes in one impact the other and in the best cases they play off each other.
There’s this great visual most people have of being an entrepreneur or a founder. It’s a poster of a young college dropout, next to the logo of a billion-dollar company they founded, surrounded by famous people and, money.