It shows that the only way is up. Check how iteration works through the first 100 days of a startup and how to deal with excessive founder equity dilution.
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The first 100 days of building a product are stressfully beautiful and challenging.
– Launched an MVP? – Yes!
– Excited to test it? – Iteration is my battle name.
– Sleeping? – 8 hours a week is enough.
🧘 Besides recommending you to download Headspace, we’d like to share a piece of advice from Maite Muniz, co-founder of Truora: be the enemy of perfection.
Truora is a startup that uses WhatsApp to check if you're being a liar, liar, pants on fire about your identity and criminal record.
Now is valued at US$ 75M, but when it started, Maite and her team would tell their customers “the product that I'm showing you today is going to be the worst one you're ever gonna see” — It’s all about telling the truth in this company.
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They’ll get instant brutal feedback and, from there, they’ll research, develop, launch another MVP, and repeat.
After many product tests, the growth challenge began:
💡 To find these answers – and cheer up while you’re iterating for the 245th time – listen to our podcast episode with Maite Muniz and:
If, on the other hand, you’re all set to start on the fundraising squid game, you need to be aware of and avoid excessive founder equity dilution.
Some time from now, you will be starting a successful startup and selling it for millions of dollars. Yes, YOU WILL.
The downside? You could be making almost nothing from the sale yourself.
Game over, player 007.
Do you think this might not happen to you? Think again, Kevin. It’s, unfortunately, very common in LatAm.
👉 It happens to founders who don’t plan around equity dilution, get unfavorable terms while fundraising, and end up closing unreasonable deals.
Want to learn how it works and how to prevent it?
We have you covered
Tickets for the Vamos Latam Summit 2022 will be available next week! Are you ready?
We’re closing our agenda of speakers, gathering big names from the entrepreneurial ecosystem. Come and meet founders, investors, and startup builders united in a single event for LatAm’s growth — and for some caipirinha fun, of course.
Pre-register now and save your spot!
And get notified when ticket sale is open!
🚀 Clara goes faster
Mexican unicorn Clara raised a US$ 50M line of credit from Goldman Sachs to double their coverage in Mexico while focusing on product and geographic expansion.
🛍️ Reversso for Mexico
The Chilean startup raised US$ 1.1M in a seed round led by Genesis Ventures fund. Reversso offers B2B software to improve returns and exchanges on e-commerce sites and will start boosting operations in Mexico.
-> Every time you ask your friends to subscribe, an early-stage founder's back pain magically disappears! 😲
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