Dan Hockenmaier @danhockenmaier
Growth, marketplaces, trying to separate signal from noise. Chief Strategy Officer @faire_wholesale. Partner @reforge. danhock.co Marin County, CA Joined August 2014-
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If you really want something - a job, a big customer, a candidate to join your team - write an email explaining why. Don’t use AI. Spend an hour on it. Edit it and then edit it again. Make it absolutely clear that you've thought hard about it and that you mean it. It is…
The best early career networking in tech is just making friends with a bunch of people at the same career stage and then ten years later realizing that they are all doing incredible things
New contender for best definition of strategy: “Strategy is accepting that you are doing something better than the other and the other is doing something better than you. You have to pick your fight.” - Axel Dumas, CEO of Hermes (via latest @AcquiredFM pod on Hermes)
Very much agree. The key way to mitigate the downsides of this approach is to have as many members of the team as you can deeply embedded into their partner teams so they can build context and relationships.
Very much agree. The key way to mitigate the downsides of this approach is to have as many members of the team as you can deeply embedded into their partner teams so they can build context and relationships.
If you are a data-driven person, it is rarely a good idea to join a company that does not value data in decision making and try to convince them to value it.
Newly updated collation of all my views: mogolshan.notion.site/Lessons-from-K…
Something that people joining from big companies sometimes fail to grok about startups. If you find: - A flow that is broken - A highly unoptimized part of the product - A place you're wasting money - A missed opportunity That is not bad news, it is great news. Startups are…
In virtually every growth model I've ever seen, customer retention is the single most important input into improving both top and bottom line performance. But there is a major catch: In almost as many cases, it is also the single hardest metric to move. If you think about a…
What can we learn from Stanley growing 10x from $75M in 2019 to $750M in 2023 from the explosion in popularity of its Quencher mugs? 𝐀𝐥𝐦𝐨𝐬𝐭 𝐧𝐨𝐭𝐡𝐢𝐧𝐠. They caught lightning in a bottle when influencers picked up on their mugs and kicked off a massive cycle of mimetic…
Shreyas Doshi @shreyas
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💥🧑🎓 Announcing: Lenny’s Newsletter Fellowship Program I’m launching a three-month fellowship program, and applications are now open. What it is: Work alongside me to learn how I do what I do, share your unique knowledge with the world (through guest posts), and jump-start (or…
@danhockenmaier I love this. You should also write a letter to yourself when you’ve made a big decision explaining why
@danhockenmaier So true. I would generalise to solving any problem. It’s better you put the hours in to do it manually, so that you can learn how to leverage AI. Never skip the first step.
I always prefer ordinary voice calls to Zoom calls. Zoom calls are much more work, because you have to think about what your body is doing and not just what your voice is doing. And you have to stay put; you can't pace like you can on a voice call.
“A lot of success is just showing up with grit and attention every day”
The business school version of how Doordash gained market share so rapidly is through clever strategy: targeting the suburbs where others weren't operating, acquiring untapped supply. That is not wrong, but it is also not all (or even most) of the real story. The actual story…
@danhockenmaier You forget raising many billions of dollars of venture capital during a zero interest rate environment.
@danhockenmaier Amen. Old blog post about working with Tony: natemodi.com/blog/things-i-…
What a company. What a CEO.
The business school version of how Doordash gained market share so rapidly is through clever strategy: targeting the suburbs where others weren't operating, acquiring untapped supply. That is not wrong, but it is also not all (or even most) of the real story. The actual story…
@speirin @danhockenmaier @DoorDash @t_xu @JustEatUK Exactly. “showing up with grit and attention to detail every day.”
@danhockenmaier What about credit card partnerships? I literally never used DoorDash until chase sapphire gave me dash pass for free (and I still have it somehow for free!). GrubHub missed the mark. Amex and UberEats did the same. You can see the same trend in streaming platforms too
@danhockenmaier I own 2 ice cream stores, 1 in the city and 1 in the suburbs. At our city location, it’s 70% Uber 30% doordash At our suburb, it’s 90% doordash, 10% Uber. Always wondered why that is.
@danhockenmaier Thanks for highlighting this story and its lessons for other startups!
@danhockenmaier Great story worth a hbr case. One more thing I’ll add is how Doordash timed their selection expansion when Uber started focusing on profitability. Uber Eats became more pricey - DD became cheaper because of partnerships like Chase sapphire. Eats selection went down, DD expanded.
@danhockenmaier This is so true. The problem is that people love a simple, narrative explanation for success.
@danhockenmaier I wrote this back when DoorDash IPO'd. We made the right strategic choices, but relentless execution was the true driver of success. x.com/michaelxbloch/…
Two years ago, DoorDash was a distant third behind Seamless & UberEats in the food delivery race. This week, $DASH will IPO at a $30B+ valuation as America's biggest food delivery provider. I was one of DoorDash's first 50 employees. Here's an inside look at how we did it 👇👇👇
This is what I have realized about startup "strategy" vs execution. Short version: it's basically impossible to big-brain your way to startup success.
The business school version of how Doordash gained market share so rapidly is through clever strategy: targeting the suburbs where others weren't operating, acquiring untapped supply. That is not wrong, but it is also not all (or even most) of the real story. The actual story…