214: Nailing Product-Market Fit and Building a Successful Startup, With Legendary VC and Wealthfront CEO Andy Rachleff

214: Nailing Product-Market Fit and Building a Successful Startup, With Legendary VC and Wealthfront CEO Andy Rachleff

Andy Rachleff is not just a product expert; he literally coined the term “product-market fit.” Wealthfront CEO, former VC backing companies such as eBay, Uber, and Twitter, and technology entrepreneurship instructor at the Stanford Graduate School of Business, Rachleff has a wealth of knowledge on creating and scaling powerful companies. I was excited to have the chance to pick his brain on everything from product-market fit, to how he started his company Wealthfront, to how he hires the best of the best to join his team. In this interview, you will gain access to a true master, who has enjoyed a long career of investing in legendary companies and now gives back to today’s entrepreneurs and investors. Rachleff started his company Wealthfront, an automated investment service that manages $11 billion in assets, as a way to perform a social good by democratizing sophisticated financial advice. In our discussion, he was kind enough to divulge some of his wins and losses and top lessons learned in his storied entrepreneurial career. Enjoy! Key Takeaways How to know when you’ve reached product-market fit The process Rachleff follows every time he builds a new product How to know when it’s the right time to launch a new product (or let go of a failing one) How to maintain a close-knit startup culture as the company grows Why perseverance does not lead to success in technology (and what does) What type of people he looks for and the three biggest things that make people to want to join his team Key Resources From Our Interview With Andy Rachleff Follow Andy on Twitter Learn more about Wealthfront here

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432: How “Recovering Accountant” Guy Pearson Built the Shopify for Services

432: How “Recovering Accountant” Guy Pearson Built the Shopify for Services

At 24, Guy Pearson turned down a partnership to start an accounting firm. His early clients were digital companies, and Pearson was jealous that there wasn’t an online commerce system for his industry...

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430: Not All Leads Are Created Equal with B2B Sales Maverick AJ Cassata

430: Not All Leads Are Created Equal with B2B Sales Maverick AJ Cassata

Does the word “sales” make you squeamish or intimidated? If so, then this episode is for you. AJ Cassata is a maverick B2B sales consultant who helps entrepreneurs grow their businesses fast with his ...

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429: Why the Impossible Is Fun with Brian Scudamore of O2E Brands

429: Why the Impossible Is Fun with Brian Scudamore of O2E Brands

33 years ago, Brian Scudamore was sitting in a McDonald’s drive-thru when he saw his future–a beat-up pickup truck filled with junk. Scudamore started a junk-hauling business to pay for college, but w...

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428: Why Your Business Assumptions Are Wrong with Tim Fung of Airtasker

428: Why Your Business Assumptions Are Wrong with Tim Fung of Airtasker

Airtasker is Australia's #1 marketplace for local services. Over the past decade, they've acquired more than 4.3M registered users, built a worth of $255M, created a $1.7B value of job opportunities, ...

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427: How to Pick a Winning Product with The Oodie Founder Davie Fogarty

427: How to Pick a Winning Product with The Oodie Founder Davie Fogarty

Davie Fogarty created Australia's fastest-growing ecommerce brand, The Oodie, which sells wearable blankets and accessories. But success didn't happen overnight. After multiple failed businesses, at 2...

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426: How to Open Talent Doors with Jen Proctor of Cultivated Entertainment

426: How to Open Talent Doors with Jen Proctor of Cultivated Entertainment

Jen Proctor loved being a performer. But when her dream to be a professional singer ended, she pledged to be a good person in the entertainment industry, something she knew wasn't a given. So in 2015,...

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425: Why Kendra Scott Risked Everything on the Customer Experience

425: Why Kendra Scott Risked Everything on the Customer Experience

Kendra Scott started her self-titled billion-dollar jewelry business out of failure. Her first business failed after 5 years, and she started selling handmade jewelry door-to-door as a side hustle. No...

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424: How Dragons' Den Star Michele Romanow is Removing Funding Barriers

424: How Dragons' Den Star Michele Romanow is Removing Funding Barriers

Michele Romanow joined the cast of CBC's Dragons' Den in 2014 after successfully selling her digital coupon business SnapSaves to Groupon. At 28 years old, she was the youngest "dragon" on the show, b...

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