A good company has to have good technology, an understanding of the industry, and an effective sales process. You can have the right insights that are really solving a pain point for the industry, but if you don't have your sales process sorted out and no understanding of what the sales cycle is, you can run out of capital before you are able to put enough revenue to justify the next round. This is an area where you have to be really careful about.

We are very keen on a company dedicating itself to doing one thing very well. We think that is a secret to the success of service. Otherwise, you can find yourself overloaded with lots of different tasks. It is important to come up with a concept, pursue it to the point where you've done everything you can to make it work. If it doesn't work, then you pivot. But while you work on it, you need to block everything else out.