HV Capital’s Post

“Bubble tea? What is it?” “Investing in bubble tea? Why? Why not AIGC?” “Bubble tea shop? How can it scale to be a VC-fundable business?” I loved it when my friends got curious about why we invested in Ume Tea, a bubble tea chain based in the San Francisco Bay Area. At iFly.vc, we are passionate about technology innovation such as the latest trend in AI, but we are very selective when it comes to where and how we invest. Seeking value in non-obviousness is the hard yet rewarding part of venture investing. Bubble tea does not carry the level of buzz as AI but it is where we see a tremendous opportunity in the US for both entrepreneurs and investors. In this post, I would like to share iFly.vc’s thoughts on our investment in Ume Tea. #genz #foodanddrink #beverage #bubbletea

This is a very insightful story about the highs and lows of seeing open opportunities in an unsaturated market. Sometimes the field is fallow for a reason. Oftentimes, you can't know the problems until you've already committed yourself to the endeavor. This is the reason we mythologize founders because they do take leaps into the unknown. #Startup #Scale #BusinessStrategy

Starting a pizzeria isn't easy, as most operators will tell you. In this article, Pizza Marketplace editor Mandy Detwiler looks at six easy steps you should be taking before starting your #business. #pizzeria #startup

4 years ago felt almost apocalyptic, but then something miraculous happened. We're almost at the 4 year anniversary of the pandemic shut down, and so much has changed in that time. At the start of it, we were all disconnected, and we also discovered quickly that digital-only connections could only go so far. What gave me a lot of hope was discovering local, small businesses on Instagram and being able to buy bread, cookies, honey, avocados, flowers, you name it, and having it safely dropped off at my doorstep. Being able to talk with friends, families, and sometimes, the owners themselves, really affirmed that real life, tangible and shared experiences is what drives a lot of us forward. In the years since, some of these businesses have gone on to open their own storefront, while others have moved onto digital platforms like Tock or Toast since their businesses have outgrown taking orders over DM. I don't know the folks behind Castiron, but I love seeing technology that gives small businesses real amplification. In the CPG world, the likes of Thingtesting, Carro - Collaborative Commerce, and Startup CPG create such unique opportunities for new products to get discovered with each focusing on wildly different approaches to get the job done (s/o to all my product folks that live/breathe JTBD). The problem of discoverability, accessibility, and amplification is far from solved. And I'm personally looking forward to seeing more miracles getting created thanks to innovative consumer tech experiences. In the meantime, time to order some treats.

"Think small, act small we will get bigger. Think big and act big and we will get smaller." Herb Kelleher... When I launched Pact Coffee back in 2012, I limited the service to London zones 1&2 (I know, I know, there are other cities...) and as a result, the first 1,000 customers were all an easy cycle from my little kitchen on Boundaries Rd in Balham. That's where I worked on the site, managed ads, ground coffee and sealed the bags with a pair of hair straighteners. I then hopped on my bike and delivered every single bag by hand. And I didn't stop there! I knocked on every door, swallowed my nerves, introduced myself and asked if I could come in and make our new customer a coffee. Thinking back, I estimate guess the outcome was 500 non-answered, 300 nos and 200 high quality 121 conversations with my earliest adopters. It took about a month and saved me £3,000 in postage. The biggest benefit of doing this? I got to look in customers' kitchen cupboards and find out who we were up against... not the local specialty roasters that customers would talk about by phone, in coffeeshops or at events, but the usual suspects... Nescafe, Kenco, Nespresso and supermarket own brands. This gave me the confidence to invest time and money in the launch and, crucially, helped Pact to avoid the specialty coffee echo chamber. This was the foundation of a customer-centric culture that will never be undone. It has enabled us to deliver 11 years of growth (the last five in profit), world-class retention, NPS78 and, as of last month, has finally attracted the supermarkets we sought to disrupt, with a nationwide listing in Waitrose... It's hard to keep the scrappy mindset going with successive ventures. Cash and experience can make you very lazy. But in the early days I am still an advocate of doing things that don't scale and cutting corners with an early product or service to accelerate your pace of learning about the customers you're planning to serve. Oh, and for evidence that I can still cut corners with the best of them, feel free to check out the v1 ReFounders website 😂 #startups #gotomarket #customercentric #npd #specialtycoffee #coffee

Calling all entrepreneurs and businesses! Discover the must-read study that sheds light on the failures and wasteful experiments faced by startups. Read the captivating journey of a multimillion-dollar ice cream startup—witness its rise, fall, and inspiring comeback as it navigates the challenging world of entrepreneurship. Uncover invaluable lessons on scaling a passion project into a thriving business and master the art of "Exit Gracefully." #startups #failures #bounceback https://lnkd.in/dR59xrPh

I had a great conversation with Matt the owner of Everprep, a meal prep restaurant, about starting a business from scratch. To watch the full episode, click this link, https://lnkd.in/gQzQT4qx. #smallbusinessowner #startup

Are you considering starting a business in your 30s or 40s or even at a later age but feeling uncertain about your qualifications or capabilities? Don't worry, as the "Tasteful Blog" from Thompson Square Gardens Restaurant Company has compiled a list of the top 10 lucrative business startups. These opportunities are perfect for individuals who believe in their potential and are willing to take the leap. #TSGRestaurant #TastefulBlog #Entreprenuer #MoneyMakingMindset #TakeYourShot #AndBecomeSuccessful #ThompsonSquareGarden

Malcolm Gladwell shares a study where a group of people was asked to describe their favorite spaghetti sauce. The group was then presented with a variety of spaghetti sauces to taste. The result ➡ Most of the group liked a different type of spaghetti sauce than they described. I often think about this study when it comes to product-market fit. Can customers accurately describe what they want? Or is the better approach to put the product in customers' hands, give them a number of features to try and then take feedback? #PMF #startup #tech