Sputnik ATX: What Entrepreneurs Really Need (and It Isn't Funding), 2019-Nov-19 by Joe Merrill
What you think holds you back:
- Startup Funding (from investors)
- Bug fix (make it work better)
- Design (make it easier to use and pretty)
What actually holds you back:
- Launch (get product to market)
- Design (make it easy use and pretty)
- Pricing (create consumer surplus)
Remember, high growth covers a multitude of sins.
Short on cash? Sell more. Product buggy? Get code fixes to market now.
Alternatively, Failory did a study that patterned start up data to identify why some fail and some succeed. The 4 reasons for failure generally fell into four categories:
Incompetence – lack of planning Inexperience – lack of product know-how Inexperience – lack of managerial skills Personal problems – you’re a hot mess.
The worst thing you can do, is say to yourself, “I believe, therefore I am right.”...
We see many founders who fail to identify that they are in one of these categories. Successful founders know that they are always one or more of these, and fill their gaps by building a diverse team that is united and motivated around common goals and vision. It takes humility to assume you know nothing, and build a team with the skills to succeed. And humility is what you really need.