A VC: Marketing
You asked for it Arnold and 84 others (so far). So I'm gonna talk about marketing. I believe that marketing is what you do when your product or service sucks or when you make so much profit on every marginal customer that it would be crazy to not spend a bit of that profit acquiring more of them (coke, zynga, bud, viagra). A very experienced and successful entrepreneur came into our office a week ago to pitch his latest company. At the end of his pitch he showed us some numbers. Normally for a raw startup we see almost all product and engineering expenses (headcount). So a few days later, I called him. Zynga has spent millions on customer acquisition and continues to do so. In my talk at Harvard Business School, I said "Early in a startup, product decisions should be hunch driven. Early in a startup you need to acquire your customers for free. So if you need to acquire customers for free early in a startup, how do you do that? 2) Social hoooks – Your product/service must be social.