Back on Friday, we also conducted an interview with a former VC of Bessemer, Rahul. Due to multiple idea tracks running through our teams minds, we thought it was best to seek advice from someone who had seen thousands of business proposals. In the beginning of our conversation, we spoke about “apps” as businesses. Rahul’s opinion on this subject has changed over the last year and has seen an increase in “upstream growth” in this category, where the end-users are initially targeted with their employers/insurance providers in mind. This methodology would skip the partnership aspect.
Furthermore, it was interesting to hear the numerous points that Rahul agreed on with Gabe Zichermann (with no awareness). Some of the key ones that stuck out were:
- Focus – start small on a very targeted category, but keep adjacent markets in mind for expansion
- Personal benefits/happiness is much more important/valuable than material incentives (in our case)
- Gamification (i.e. supporting users and making glucose management fun) and peer pressure are best features