Rory Crawford, CEO and co-founder of BevSpot(visit www.bevspot.com for more about the company) met with the SSC teams on Wednesday, August 12 at Jebbit to share his story. BevSpot provides restaurants and bars with an inventory management platform for alcohol. BevSpot is one of Dorm Room Fund's portfolio companies.
Crawford shared that, in his opinion, the goal of an early stage startup is to make progress everyday. While early stage founders should set aggressive goals and push themselves, each goal should be broken up into smaller, manageable chunks that can be accomplished.
Traction is created by doing something that shows you are moving quickly and demonstrates product market fit. It's unique to each company. Traction isn't necessarily 1,000,000 downloads for an app—it could be 400 survey responses about a feature. Coupled with a strong team and a big pie-in-the-sky vision, traction will help your company continually move forward.
That being said, startups are notoriously difficult to launch and Crawford reflected, "You need a big vision in order to make it [launching a company] worth it."
Crawford left SSC teams inspired and motivated to give their utmost dedication to their ventures. The SSC would like to sincerely thank Crawford for sharing his experience with the teams.