Running startup accelerator is filled with several occupational hazards. According to Y Combinator President Geoff Ralston, falling into skepticism is quite easy. Still, it’s the one thing that you should work as hard to avoid. In a rigorous interview with the press, Ralston tackled a couple of topics including the salient changes in the tech industry, why he still continues coding, and how YC has revolutionized its operations regardless of the pandemic challenges.
According to Ralston, you don’t have to be too smart as great founders tend to see beyond what too smart people see. “If you focus on being too smart, there are higher chances that you will not experience the Airbnbs of the world,” he said. The too-smart mentality will push you to miss investing in the right company hence limit your chances of making profits when you have the chance. As an investor, Ralston shares insightful, actionable advice on how to apply YC throughout the interview. Some.
Don’t Change Things Up For YC’s Sake
For an investor, focus on improving your company and making it as successful as possible. You don’t have to focus your company towards achieving YC dreams but rather following your objectives. As an investor, you have to ensure that you avoid making wrong short-term decision thinking that you have a deadline for doing bad things instead, focus on building your company for long-term and do extremely best to find market fit products. Whether you are developing software, technology, products, or anything else, ensure it’s the best for the market.
Missing deadlines is not always an indicator that you have hit rock bottom says, Ralston. You should not turn down the next epic company simply because you missed a deadline. Deadlines are there to guide you towards making great odds; however, missing one should not turn your odds down wholly. Keep your odds as high as possible so that even when you miss the deadline, it should not limit your abilities to venture into the next level with confidence.
Enhance Your Pitch
When expressing yourself, ensure you are concise, brief and direct. You don’t have to write a book when sending your application to express yourself. Consider, someone else will read the application, and there are several other applicants. Therefore, when you make your pitch short, direct and easy to scan, it gives you better rating with the people on the receiving end you don’t have to use a lot of words to show your abilities, instead, use simple words and ensure to include relevant points at the top of the pitch
Follow the Instructions Keenly
Following instructions is critical when sending in your application. If the instructions say to do a one-minute video, that’s all you need to do without overdoing it. Ensure to cover essential tips within the one-minute time frame and ensure to avoid as much as possible sending marketing videos. When making the decision, it’s not much on how long your video was or how you covered various topics, but rather how good you are with following instructions.
Tell Your Story
When given a chance, you don’t have to skip telling your story. Ralston notes that your story is as essential as your creation and sharing about yourself is as essential when you consider putting yourself on the market. Letting people know about you helps them to identify your product with you. This, therefore, gives your product a brand image hence making it possible for you to penetrate the market.
Geoff Ralston not only helps startup founders to focus on doing what’s right for their company but also shares effective insight on how he made it to the top. With the assistance of YC, any founder can become better. However, one needs to focus on developing their game and working towards making it within their space. Don’t focus more on what others are doing and abandon your game while entering the market.