Common Founder Issue
Just a few years ago I had an epiphany regarding how the very early participants in a startup - particularly founders and initial “friends and family” investors - should feel about the likelihood of success of a new venture. Prior to this moment, I considered every phase to be pretty much the same as a startup grew. So, for example, the first dollar from your rich uncle is a “business arrangement” just like the first venture round from a fancy VC. I now think very differently about this topic.
Founders of new ideas and their initial investors should realize that the initial time and resources into a new startup are simply to prove or disprove a business model. The very fact that something is a startup means that the business model isn’t proven. In this podcast a repeat-founder discusses his thoughts on this topic.
At this point in the podcast/video, Mike is discussing the product-market fit differences between a previous start and his current one.
Get Right To The Point
To get right to the point go to minute 30:01 of this podcast/video.
If this particular lesson resonated with you, please pass it along to one other person who you think it might help. Also subscribe on the homepage to receive each new lesson via email when I post them (once or twice a week).
Thanks to these folks for helping us all learn faster
Andrew Warner (@AndrewWarner) of Mixergy (@Mixergy)
Mike Townsend (@mikettownsend) of HomeHero (@HomeHero)
Please let me and others know what you think about this topic
Email me privately at firstname.lastname@example.org or let's discuss publicly at @davempayne.
Real Founder Lessons
The best startup advice from experienced founders...one real-world lesson at a time.