What do a relationship app, Uber, a nightclub, and Airbnb all have in widespread? “In case your prospects come to this product, and there aren’t sufficient different folks round, then they’re simply going to bounce,” says Andrew Chen, a common accomplice on the high-profile Silicon Valley VC agency Andreessen Horowitz, who sits on the boards of Clubhouse, Substack, and a dozen different buzzy tech startups. These firms require what’s known as a community impact: They grow to be extra invaluable as extra folks use them. (In spite of everything, no one hangs out at an empty membership.) Which means founders want to draw an energetic and linked base of customers rapidly, or they might fail to draw anybody in any respect.
This isn’t straightforward, however it’s potential — and one technique to make it occur applies to any enterprise aiming to foster a group. It’s the topic of Chen’s new guide, The Cold Start Problem. Right here, he explains learn how to entice the plenty … by beginning with the few.
Supply: Entrepreneur