I wouldn’t recommend that all founders build community-driven companies. Founders need to ask themselves whether it makes sense for their businesses. But the benefits of a community-driven business are real and should be considered (e.g., lower CAC, higher retention). Learn more about community-driven companies here.
The timing is right for community-driven companies to rise and build the companies of the future because:
Thanks for the compliment! At The Community Fund, we’re looking for companies that will become unicorns. To learn more, read - The Community Fund: How We Source, Select, and Support Startups.
Growth, engagement, retention, content moderation, connection, human touch, authenticity, and most importantly aligning community with business outcomes.
Watching communities shape the products and services that they need to solve their problems and achieve their goals, while creating a sense of greater purpose and belonging. That and watching community-driven companies, members, and investors reap outsized returns from enabling all of that.
Remember that a differentiator is something that you offer/have that the competition doesn’t (and would be hard to replicate) and that your customer wants to pay for. If community is your moat, you need to make sure you tend to it, nourish it, and sustain it as the core of your business.
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