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Clarity

Tim Chae

San Francisco, CA

EIR at 500 Startups. Founder of PostRocket. My life: UI/UX + BD, Facebook + social marketing optimization, starting and helping businesses, and doing what I love as my job.

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Business Development Entrepreneurship Fundraising Start-ups Social Media Marketing User Experience Venture Capital Management Web 2.0 Social Media Measurement

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News Feed Optimization (& Social Marketing)

This is what I do every day.

http://blog.getpostrocket.com

I've been doing UI/UX for a while now.

Early Stage Startup

I'm an EIR at 500 Startups helping out with a lot of early stage startups every day.

I'm currently an Entrepreneur-in-Residence here and also have personally been a founder of a company backed by this awesome accelerator/seed fund.

Fundraising for Tech Startups

I've raised seed financing from VCs and angels ranging from "dumb money" to top tier investors.

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Tim Chae answered

For every success story in Silicon Valley, how many are there that fail?

It'd be impossible to get a real number for this, but generally 700 out of 1000 real startups (not counting the ones not taken seriously by their own founders) fail completely. 299 get ok to good returns for founders and investors. 1 ends up like the Facebook, Instagram, Twitter, etc of the world.

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Tech startups and entrepreneurship

Tim Chae answered

How to develop an idea to business and knowing whether it will work out or to leave?

I work with a lot of startups as an advisor or thru 500S. Figure out what the biggest value offering for your idea is, create the simplest product that only achieves that big value and nothing else (if this means you don't write code, then great). Get out into the real world and start actually charging people for that service.

Example is Instacart (3 hours or less grocery delivery on demand) when they were starting out (I imagine in a similar stage as you right now), went around shopping groceries and delivering it and charging customers via Square.

Most importantly, the reason you want to do this is to find out or realize that either there are a meaningful amount of people who will definitely pay for your service at which point you develop on custdev and product dev further or there aren't enough and you drop and move on.

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Member since May 2012