How to Succeed in a VC-backed Hard Tech Startup

With inspiration from MrBeast…

Late last week, an onboarding document for new members of MrBeast’s production team was “leaked.” Read more about it and the actual source document here. If you don’t know who MrBeast is, I linked his Wikipedia above, and here’s a quick image to give you a flavor of his persona…

Inspired by his onboarding guide, I thought about what a similar document might look like for new hires joining top tier venture-backed hard tech startups. Here’s a quick attempt:

How to Succeed in a Venture-Backed Hard Tech Startup

Principles

• The goal is to solve the hardest technical problems while ensuring scalable, profitable outcomes, focusing on what delivers transformative value to customers and markets.

• Results matter more than hours worked. R&D time is critical, but milestones and marketable solutions are what count.

• Only “A Players” are wanted. A-Players in hard tech are technical experts who can learn from mistakes, remain coachable, don’t make excuses, and can connect the dots between research, product development, and commercialization. They believe in the mission and are the best in their fields.

• Emphasis on understanding both the technology and the market. It’s not just about the tech—it’s about knowing how to bring it to market.

• Adaptability is crucial to handle unforeseen technical challenges, funding constraints, and market shifts.

Key Metrics

• Product-Market Fit (PMF): Measure how well your technology addresses a core customer need. Continually validate with potential customers or partners.

• Prototype-to-Product Ratio: Track how quickly prototypes can transition into manufacturable, market-ready products.

• Runway vs. Burn Rate: Ensure your capital can last through key product development phases without cutting corners on essential R&D.

• Commercialization Timeline: The first months or years post-prototype are crucial in determining the market's readiness for the solution.

• Customer Re-engagement: Maintain relationships with early adopters and partners to refine the product and build trust for future iterations.

Content (R&D) Creation

• Innovation saves money. Expensive tools or outsourced solutions aren’t always the best route—innovation in how you solve problems can drastically reduce costs.

• Stay updated on current trends. Emerging technologies, research, and industry standards can inspire new approaches.

• Balance technical complexity with simplicity. Create a product that is both groundbreaking and intuitive for customers to understand and adopt.

• Always be improving and innovating. Continuous iteration is key—never settle after the first product version.

Production (Development) Guidelines

• Document everything. Maintain thorough records of R&D, including failures, to inform future decisions and aid investors.

• Communicate potential issues early. Be transparent about risks, challenges, and roadblocks with your investors and team.

• Consultants are cheat codes. Utilize external experts to speed up development in niche areas where the team lacks expertise.

• Use higher forms of communication for complex problems. Don’t rely on email—meet, call, or have discussions to solve key technical or business challenges.

• Always have backup plans. Develop contingency plans for failed experiments, product defects, or funding gaps.

• Work on multiple projects at the same time. Explore different pathways for your core technology to increase chances of success.

• Own your mistakes. Fail fast, learn faster, and pivot intelligently when things don’t go as planned.

Creative Process (Innovation Strategy)

• Understand what excites your industry and investors. Focus on solving big, meaningful problems that have the potential for outsized returns.

• Focus on strong technical development and a clear commercialization strategy. Investors want to see both the “how” and the “why” your technology will succeed in the market.

• Integrate partnerships seamlessly. Bring in strategic partners early, especially for manufacturing or scaling technology.

• Keep the product simple for a wide audience. Even the most advanced tech needs to be communicated clearly to investors, customers, and stakeholders.