Significant Career Lesson From A Managing Partner At Hyperspace Ventures
Peter, Managing Partner at Hyperspace Ventures, emphasizes the importance of a "quick to market" Minimum Viable Product (MVP) approach, highlighting the significant career lesson of prioritizing "moving fast, accept[ing] feedback, and then iterate[ing] quickly" rather than striving for initial perfection. This strategy, Peter explains, is key to preserving capital and validating product viability early in the process.
Executive/Leadership, Project Management, Problem-Solving, Entrepreneurship, Strategic Thinking
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Peter Fox
Managing Partner
Hyperspace Ventures
University of North Carolina - Chapel Hil|, 2017
N/A
Business Management & Admin
Finance (Banking, Fintech, Investing), Technology
Business Strategy
None Applicable
Video Highlights
1. Build a Minimum Viable Product (MVP) and get it to market quickly.
2. It's better to have an imperfect product in the market than a perfect product that never launches.
3. Be open to feedback, iterate quickly, and don't strive for perfection before launch.
Transcript
What is one lesson that you have learned that has proven significant in your career?
I think it would be along the lines of building an MVP. The goal is to get your product to market quickly.
Having a product that isn't perfect is much better than trying to get it perfect before releasing it. The lesson here is to move past the need for perfection and be open to feedback.
This is key in terms of preserving capital. It also helps you see if the product is even viable. The lesson is to be willing to move fast, accept feedback, and then iterate quickly.