Build an ecosystem of champions around your company — that’s the advice Janet Kraus has for aspiring entrepreneurs.
Kraus, the co-founder and CEO of high-tech lingerie company Peach, says one of the most important things venture capitalists look for before investing in a company is the strength of the founding team.
“You have to set your sights on a business opportunity that’s big enough and painful enough, but how you bring it to market is the brilliance of a small, dedicated group of people,” she says.
Derek Ohly, one of Peach’s co-founders, approached Kraus with the idea for the intimate apparel company after hearing complaints about ill-fitting bras from his female friends. Ohly and Kraus decided to take on what they saw as a massive business opportunity — the lingerie shopping experience.
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The startup has a network of commissioned sales agents nationwide who visit shoppers’ homes, take their measurements and help them select the right bra.
Watch the video above for more of Kraus’ tips for first-time entrepreneurs.