Interesting post from VC Fred Destin:
"I have been talking to a number of e-commerce startups recently who share a few things in common.
- They do not anticipate any knowledge of their end market
- They do not pretend to understand what their customers want
- ... nor where they can be found online
They understand the basics of product and pricing and how to manage their supplier relationships; they are competent but not stellar on back-end and customer service.
Where they shine is precisely where you would expect them to be weak: they are entirely ignorant of, and refuse to assume any knowledge of, what method will work in terms of attracting customers. They will continuously spend small amounts of money across channels and simply measure, measure, measure (or correlate, correlate, correlate). They throw data at the problem. "
Read the whole post here.
