In great pain lies dorman profit. Pain points, frustrations and workarounds are the basis for insights about customer needs. How do you find them and what questions do you ask to uncover them? First thing you’ll have to do is find a problem worth solving, this means you’ll have to talk to potential customers / users of your product or service. Getting this part right is super important because it will determine what you’ll build or won’t!
Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund wrote the book “Zero to One” a few years ago. It’s a book about entrepreneurship, innovation and competition. It’s a good book if you want your thinking challenged, specifically in his views about competition; which is simple: escape competition by aiming to be 1 of 1.
Have you failed? I have, many times. And I proudly say it because it’s part of my journey. I would feel mediocre if I didn’t have the setbacks I’ve had. Anything I’ve done that has worked happened because I learned from the mistakes of others and my own; not because I followed some “success script”.
Having been part of a handful of startups and running a few of my own, I can tell you it’s not for everyone. Most startups fail, for many reasons, and when they do succeed it’s mostly determined by one factor: timing.
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.