We officially kicked off LaunchBox09 yesterday at our Washington DC office. After a highly competitive selection process, we are thrilled to welcome 8 companies into the LaunchBox09 portfolio. Over the next 12 weeks, the teams will work closely with LaunchBox Digital founders, advisers, and one another as they develop and refine their businesses and products.
Following an orientation to the 2009 program, we invited some of the LaunchBox08 alumni, including members of Koofers, JamLegend, Razume, Sharememe, and Zadby, to come back and share some of their post- launchbox insight and wisdom.
Below are a few highlights from their words of advice to new entrepreneurs:
- Work hard, work smart: Be deliberate in your choices and incorporate analytics from the get-go.
- Release early, release often: Avoid letting “feature creep” get in the way of product release.
- Bounce back: Success is in how quickly you can recover from mistakes, not in avoiding mistakes all together.
- When pitching, presentation is crucial: A poor presentation can taint even the most promising product or company. Also, familiarize yourself with your audience and adjust your pitch accordingly.
- Pay attention to “emotional capital:” Learn to lean on co- founders, team, and community when necessary.