Tech startups are like the lottery – you see the big winners in the news, but nothing about the millions of the not so lucky. Well, actually you might read about the biggest tech startup failures and this article intends to prevent you from this fate.
In this article, we’re going to highlight some common tech startup mistakes and how to avoid them.
We’ve all, of course, read about the spectacular success of startups. It’s impossible to escape the amazing tales of people starting with an idea in a garage (think Apple) and growing it into a billion-dollar global business. But a startup isn’t as easy as those well-known stories might have you think. There’s a little bit of luck and a whole lot of other influences at play.
What doesn’t kill you makes you stronger. This is for all of you who feel miserable, are doubting yourself and feel like giving up. Please don’t. Entrepreneurship, doing anything that changes the games, is hard!
What gives you confidence that you have an advantage in any situation? Shane Parrish from Farnamstreet started an interesting thread on Twitter about sources of personal competitive advantage, check them out below.
This is an interesting question I got asked recently, which has no straight-forward answer. To answer it, let’s breakdown what customer-centric means…
One of the reasons people and organizations will never transform themselves is because they’re afraid of making mistakes. Either they never take risks, or they back out on the first sign something doesn’t work if they do make mistakes.
Every organizations lives and dies by its strategy. What makes a good strategy? The best strategies are simple and answer 5 fundamental questions: who, what, where, how and why.
Still, developing a strategy is hard. There’s a tendency to make it a very complex activity, which I believe drives most organizations to fall for many traps; one being the the copy-paste approach.
Startups, by their very nature, do not fall for this trap. But this doesn’t mean their path to victory will be easier; but much more harder.
