Startling Reasons For Disastrous Mistakes

Here are the five worst mistakes a founder can make:

5. Launching the wrong product

Product ideas that are fun to work on tend not to be well-received by the market. Founders must get over the idea of cool and instead focus on what is demanded through the votes of dollars.

4. Acting like they are an employee

Young teams from large companies often act like they are still at the major corporation. As a founder, you are not an employee. You must wake up each day with a goal and execute it. Friday should not be the most exciting part of your week.

3. Allowing fear and doubt to take over

Stress, worry, and all the negative emotions associated with starting a company must be controlled. Run, bike, or swim when feeling down, and then use that natural euphoria to solve problems.

2. Selecting the wrong market

When you are a “nice to have” instead of a “must have,” growth is hard. Frame your product to a market that sees its value. For example, the Sony Walkman was a failed tape recorder that became a sensational portable music player.

1. Choosing the wrong team

The only mistake a startup founder can make that is almost impossible to overcome is choosing the wrong founding team. Seek commitment over talent because you can always buy talent when needed, but not vice versa.

Hope this helps

- Todd

I desire to help companies scale with investment, advice, and support. If you need help, have a question, or are seeking funding, email me at [email protected].