A short post, leaning on a wonderful story by Nike’s co-founder and current chairman emeritus, Phil Knight, to explain the concept of domain knowledge, and the challenges and opportunities for businesses playing in high-barrier-to-entry domains.
“Everyone has a plan until they get punched in the mouth”
We’re fortunate to get a firehose of common advice from Silicon Valley thought leaders…
The question: is this applicable to niche startups? More specifically, proptechs in emerging markets?
My view – no.
By way of background, a Chartered Accountant by training, I have been in the CREtech industry in Africa for 13 years, long before it was cool, long before the buzzwords. We are post-revenue, pre-profit, and have closed one external funding round. Our 22-strong team service Africa’s best brokerages, and most innovative property funds.
And to be honest, I’ve been punched in the mouth. Repeatedly.
As the saying goes:
“Good judgement comes from experience, and experience comes from bad judgement”
My hope with this? By sharing my experiences, I help you either make better decisions, or grow your self-belief, or both. Certainly, if you learn just one thing and can change course for the good, my pain will not have been in vain.
This clip is the esteemed Marc Andreessen, Silicon Valley venture capitalist, giving a different take on the common advice. When I heard these 3 gems of wisdom, talking to the niche of enterprise SaaS … I felt like he was talking to me about proptech.