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Equally, I encouraged entrepreneurs to thoroughly reference check their VCs – you’ll learn much more from this than anything else. They incumbents might provide terrible products or services that you think you can better. I can’t tell you how incumbents will act and who else will choose to compete fiercely with us.
Build credibility with peers The security community is a tight-knight one. As a startup, you may not have enough customer references, but referrals from peer CISOs who have signed up as design partners or completed successful PoCs are just as valuable. Find out how incumbent products you are likely to replace are performing.
Dropbox refer-a-friend. Zendesk’s community and referral marketing effort. David Duffield founded and ran PeopleSoft before starting Workday, a SaaS disruptor to an incumbent whose business he understood better than anybody else. Bill.com relationship with a national bank. Xero courting accountants to acquire businesses.
For example, that fund I referred to? ” More recently, Plaid co-founder William Hockey — who left the company in 2019 — purchased a community bank (Northern California National Bank or NorCal) for $50 million last year. It actually closed last October.
FSAs/HSAs — Flexible Spending Accounts, also referred to as Health Savings Accounts, are pools of money set aside by an employee and their employer to be used for healthcare spending. Some members of the “urgent care” community are intelligently rebranding their services as “convenient care.”
And, in the case of Unity, the damaged trust from their recent pricing change execution has left the community seeking alternatives. The name RenderMan was coined in reference to the Sony Walkman for a futuristic rendering software that was so tiny it could fit inside a pocket.
Community coordination to encourage whole-block electrification. Many modern replacement machines that generate or use electricity are “smart” in that they can be controlled via APIs – they are often referred to as Distributed Energy Resources (DERs). Alternative energy storage systems (e.g. thermal storage).
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