Lessons from A Startup Founder
Cheers to massive execution this new week
Today’s post is an excerpt from our podcast episode titled “RE-wind-How Did You Get Into Tech?” This excerpt focuses on the mistakes and lessons DLM shared with us which you will definitely learn 1 or 2 things from.
Prepare your mind as you read on…
Don’t try to build many products at the same time.
Building the technology of a product is quite expensive and doing more than one at a time can be difficult.
Substantiate your idea before getting to the point of building your technology.
This process requires that you are clear about
- the problem you are solving,
- the market and its competition
You need to take the time to understand the very core of what it is you are trying to do before you get into building the technology.
Do not run after the money too early
Chasing after the money and getting it early on can make you ignore the nitty-gritty details of your startup. It is very important for you to go through the whole process of developing the business by yourself; this helps you to understand the process and in turn allows you to know when and how to scale.
Startup is not just in the nomenclature.
It is more about the business value you are offering to the customers. There must be an automatic demand for your product — you should be creating a solution that people already need.
Going at it alone will stunt your growth.
You have to build relationships; join communities, collaborate and co-create with people, learn from them and show your capability. Through people’s activities and successes, you draw insight that will help you on your journey.
Adopt a mentor
Yes, there will be failures, but with a mentor, someone with experience to serve as a support, it will be more manageable and there will be a lower rate of failure.
Own your ideas and strategies
Other people can come up with the same ideas and strategies as you but ownership cannot be stolen. If someone can steal your idea and your strategy and thrive with it, then it was never yours to own in the first place.
You can read up on the full interview HERE
There you have it,
Things to keep in mind on your journey as a founder
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