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Most Founders Have a Flawed Mentality

1 points by FatihTahta 2y ago

I pivoted to SaaS from a physical industry because I saw a big void that I come to fill w getMentio.com and I was stumbled that digital entrepreneurship community has a huge flaw... You ever met someone who got the bag by juggling selling tees, day trading/investing, developing software and wholesaling all at once? Yeah, me neither. How many biz. does it take to make a millionaire? One. Is it easier to do two things or one? One. How many biz. do people have to become billionaires? One. And still… Everyone’s tricked by ppl claiming you need 7 income streams when they don't even have one.

JohnFen 2y ago
Doing a startup is a very high-risk activity, and multiple income streams help to reduce the risk. You only need one success to be a billionaire (if that's your goal), but the odds of whatever your startup is being that one success are very low. Almost all successful entrepreneurs became successful by trying out a lot of things that didn't work before they discovered one that did.
- FatihTahta 2y ago
  Sure, even the successful products generally pivot from the original idea but the problem is most people doesn't give their best to succeed and blame the idea. I believe that if you can distribute it you can sell anything. But it take effort and resource which not much are willing to sacrifice so they drifting from one idea to another.
  - JohnFen 2y ago
    > the problem is most people doesn't give their best to succeed and blame the idea. In fairness, it's also common for people to give it their best and still fail. But even so, you're right -- people often blame the idea itself. Sometimes, the idea is actually the problem, but more often it's just bad luck. > I believe that if you can distribute it you can sell anything. My old business partner had a riff on this same point: anybody can nail two sticks together and find a market willing to buy it. It's just that sometimes you have to look very hard to find that market, and sometimes the market that exists isn't big enough to be of interest.

1 points by FatihTahta 2y ago

JohnFen 2y ago

Doing a startup is a very high-risk activity, and multiple income streams help to reduce the risk. You only need one success to be a billionaire (if that's your goal), but the odds of whatever your startup is being that one success are very low. Almost all successful entrepreneurs became successful by trying out a lot of things that didn't work before they discovered one that did.

FatihTahta 2y ago
Sure, even the successful products generally pivot from the original idea but the problem is most people doesn't give their best to succeed and blame the idea. I believe that if you can distribute it you can sell anything. But it take effort and resource which not much are willing to sacrifice so they drifting from one idea to another.
- JohnFen 2y ago
  > the problem is most people doesn't give their best to succeed and blame the idea. In fairness, it's also common for people to give it their best and still fail. But even so, you're right -- people often blame the idea itself. Sometimes, the idea is actually the problem, but more often it's just bad luck. > I believe that if you can distribute it you can sell anything. My old business partner had a riff on this same point: anybody can nail two sticks together and find a market willing to buy it. It's just that sometimes you have to look very hard to find that market, and sometimes the market that exists isn't big enough to be of interest.