3 ms·
Point #1 seems completely over-thought to me. > At the beginning, startups are simply a belief that a problem out in the world needs solving and that someone i
by mi100hael 8y ago
Point #1 seems completely over-thought to me.
> At the beginning, startups are simply a belief that a problem out in the world needs solving and that someone is willing to pay for the solution. This can be based on intuition or experiences, but they’re still assumptions and hypotheses that must be verified.
You don't need 7 different steps to find excuses to pat yourself on the back. Either someone pays you, or they don't.
- wgerard 8y agoI mean it's true that either someone pays you or they don't, but there's still plenty of grey area: 1. Some people might pay you but it's not enough revenue to sustain a business 2. People may not pay you now but are willing to pay you later 3. Sales cycles can be quite long esp. for B2B, and can cease at any point for quite a few reasons (e.g. legal) 4. People will definitely pay you $0.99 for $1.00, but that's not a sustainable business. It's super easy to fall into this trap especially when you consider the monetary value of time 5. It's usually a good idea to figure out if people will pay you before you spend a bunch of time and money building something Having a process for determining whether you're falling into one of those traps seems valuable.
- qaq 8y ago"People will definitely pay you $0.99 for $1.00, but that's not a sustainable business." Looking at founders of Uber and many other "Unicorns" selling $1.00 for $0.7 is pretty popular strategy for becoming a billionaire.