Overview of Challenges and Strategies
Key Speakers
- Gabriel Anderson, Founder and Managing Partner at Graph Paper Capital
- Molly Mackinlay, Contributor at PL Venture Studio
Primary Topics
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Introduction of Speakers and Context
- Gabriel Anderson discusses his background with Consensus and the establishment of Graph Paper Capital, an early-stage Web3 accelerator.
- Molly Mackinlay talks about her role in PL Venture Studio and their mission to help startups grow and scale within the Web3 space.
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Importance of Hands-On Experience
- Gabriel emphasizes that his and his partners’ advice comes from practical experience, having been founders themselves. Their guidance at Graph Paper Capital is not theoretical but grounded in real-world startup operations.
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Fundraising Techniques
- Founders need both access and insights to succeed.
- The unique approach of Graph Paper Capital includes allocating 20% of their carry to a pool where 85 venture partners help founders through high-impact contributions.
- Mark Suster’s concept of “lines, not dots” is recommended—show continuous progress to investors to build credibility over time.
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Product-Market Fit and User Feedback
- Engage actively with users and the market to gather feedback and iterate on product development.
- Example from a developer working on the Amanubay app, who focuses on making crypto payments user-friendly and intuitive through daily user feedback and rapid iterations.
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Strategies for Early Customers and Community Building
- Document the development process to generate “sawdust content”—extra value from existing activities.
- Share these insights to attract your community and early adopters. This helps in early marketing and building a loyal user base.
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Challenges in Fundraising
- Importance of building relationships over time rather than relying on cold outreach.
- Founders should prepare by understanding their core user flows and identifying the “aha” moments for their users, similar to how Blogger improved user engagement by simplifying the initial setup.
Practical Tips for Founders
- Practice concise pitches: Get your elevator pitch down to two minutes, covering what you do, who you do it for, how you do it, and any traction you have.
- Continuous updates to investors: Regularly share progress with potential investors to depict momentum and dedication.
- Leveraging networks for introductions: Use intermediates to establish connections with investors, ensuring that the introduction is meaningful and well-prepped.
Tactical Advice
- Fundraise only when ready: Fundraising is a full-time job. Don’t split focus between building the product and seeking investment.
- Use affordable emails for introductions: Make it easy for your connections to introduce you by preparing all necessary context and information beforehand.
Final Thoughts
- Persistence and strategic relationship-building are essential in the journey of launching and scaling a new startup.
- Practical guidance and networking significantly impact a startup’s ability to secure funding and achieve market success.
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