I had a great day last week with the students at the University of Natural Science.
The first time I ever talked to a Venture Capitalist was 9 years ago. I remember one of the key things he asked me was how are you going to defend your position.
Interestingly enough, that was the #1 question I got from the students at UNS as well.
If you narrow your product down to a core use case, with a specific user profile in mind, how the heck do you keep people from copying it?
At the end of the day, every great company is going to have at a minimum a handful of others who try to take their idea and improve on it. Shoot, that’s probably what we did in the first place.
I was blessed with the opportunity to speak with two amazing Venture Capitalists, Steve Anderson and Michael Dearing.
While not expressed in the same words, they answered that 9 year old question for me.
There is a simple way to defend, focus and execute.