a day ago
- The fundamental mistake that kills startups is not making something users want.
- Single Founder: Startups are too hard for one person; co-founders provide support, brainstorming, and morale.
- Bad Location: Startups thrive in hubs like Silicon Valley; location affects access to experts and talent.
- Marginal Niche: Avoid small, obscure niches; face competition by pursuing good ideas.
- Derivative Idea: Don't copy existing companies; solve a personal problem or unsolved need.
- Obstinacy: Be flexible and pivot when needed; most successful startups change their original plan.
- Hiring Bad Programmers: Non-technical founders must find good programmers; bad hires kill startups.
- Choosing the Wrong Platform: Technical decisions matter; let good programmers choose platforms.
- Slowness in Launching: Launch quickly to force completion and get user feedback.
- Launching Too Early: Don't ruin reputation; launch a minimal useful core that can be expanded.
- Having No Specific User in Mind: Build for yourself or find real users; understand the problem.
- Raising Too Little Money: Need enough runway to reach the next milestone (prototype, launch, growth).
- Spending Too Much: Avoid excessive hiring; pay with equity, keep costs low.
- Raising Too Much Money: Large investments can lead to loss of focus, pressure, and difficulty pivoting.
- Poor Investor Management: Manage investors but don't let them run the company; focus on product.
- Sacrificing Users to Profit: Prioritize making something users want over business model initially.
- Not Wanting to Get Your Hands Dirty: Founders must do business tasks, like user acquisition and deals.
- Fights Between Founders: Choose co-founders carefully; vesting helps handle departures.
- Half-Hearted Effort: Most failures are due to not trying hard enough; consider quitting day job.