Merit, a new, free VC training programme launches today — and hopes to offer a scalable solution to the VC industry's diversity problem.
It’s just as critical for a company starting out today to be able to articulate this clearly as it is for a mature company. And the answer can’t be “Covid”. Covid might highlight new problems or opportunities, but they must be understood in the broader industry context. That’s the only way to position the company forCovid has shown that the frequency with which users interacted is more important than the socio-economic environment in which the company is operating.
Products or services that we come to depend on, for utility or physical or mental wellbeing, don’t change in three, six, or 12 months. But dependency is key. Take Match.com — when lockdown hit, the company lost nearly half its value. Investors thought the app was only useful for in-person interactions but it turned out that wasn’t the case. Match.com became one of the places people went to for social interactions — they wanted to use it, even when there was no possibility of a physical date.
Building a strong relationship with customers is as important when it’s your first user as your millionth.