Founder of Insurtech Startup Coterie Insurance Shares Their Top Insights
Last Updated: By TRUiC Team
Any entrepreneur can tell you, launching a startup is a learning process. Therefore, one of the best things you can do prior to launching a startup of your own is to learn from those who have blazed the trail. David McFarland, founder of insurtech startup Coterie Insurance, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.
Business Insights From the Founder of Coterie Insurance
What is your #1 piece of advice for startup founders?
“Do what is short-term negative, long-term positive.”
What is the best method you've found to avoid burnout as an entrepreneur?
“Pace yourself and be real about your capacity. Most burn-out is a function of emotional burn-out versus physical.”
What is your advice for coming up with a unique startup idea?
“If you really want advice on ideas, then stick with what you know. Typically we have fertile soil that we don't even realize, people discount how much they've learned about their industries. They'll go to other industries where they don't have as much knowledge - I think that is a mistake. You'll have an amazing competitive advantage if you come up with ideas applicable to your industry.”
What is your advice for overcoming challenges and failure?
“Understand it's the cost of education. Success is iterative failure.”
What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?
“Stay humble in everything.”
What is your advice for entrepreneurs seeking funding for the first time?
“Use Signal (NFX) and your network. Practice your pitch over 1,000 times.”
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