🚀 Why Startups Fail: Top 10 Mistakes to Avoid 🚀

Рет қаралды 5,308

Күн бұрын

Пікірлер: 31

@Mr.Monta77 3 ай бұрын

In my experience, hiring the wrong people and sharing equity too early is a suicidal strategy. I hired a graduate from MIT in my tech company as the CEO, only to discover he was unable (and perhaps unwilling) to complete any task. He was talkative, charming and caring, but devoid of any actual real world skills. His mother asked me, confidentially like, if I was sure about this? But I was blinded by his MIT credentials. Huge mistake. And very costly at that.

@FeeltheBoot 3 ай бұрын

Thanks for sharing that. Wow! Putting the wrong people on the team in the early days can be a disaster. Making them CEO multiplies the damage they can do. I understand getting blinded by credentials through.

@Mr.Monta77 3 ай бұрын

@@FeeltheBoot Thanks, and I found out later that he had paid his chinese and indian class mates to write much of his degree requirements. Well, I got an education in hiring right there. But anyway I find your videos valuable and I’m grateful to share your considerable experience. I will be in touch via you website. Signed up today. Thanks.

@FeeltheBoot 3 ай бұрын

@@Mr.Monta77 yow! That's bad!!

@nicolassuarez2933 6 ай бұрын

Outstanding! Let me paraphrase Y Combinator's slogan: Build something people want and love without any money upfront, haha!

@FeeltheBoot 5 ай бұрын

That would be ideal!

@vapewarrior7655 2 ай бұрын

Great insights......makes everyone realize that getting funding is a game that has rules and hurdle that only discourage

@FeeltheBoot 2 ай бұрын

Thanks, it's an odd game, but knowing the rules helps.

@NoriInSFTech 7 ай бұрын

I'm working on my startup. I did have a co-founder issue the last 2 times. Thank you so much for this well-structured helpful information!

@FeeltheBoot 7 ай бұрын

Thanks!! The latest episode is an interview with an amazing founder who had some significant co-founder issues.

@amonifinau4048 7 ай бұрын

Thank you!

@ARreymago 8 ай бұрын

Glad your back!

@FeeltheBoot 8 ай бұрын

Thanks!

@chumbaamalelthedoc8816 Ай бұрын

Great info.

@FeeltheBoot Ай бұрын

Glad it was helpful!

@tedxstanleypark9847 Күн бұрын

What role does Customer Gossip play in winning the game of business?

@claursen1 2 ай бұрын

Great advice. Thanks for sharing.

@FeeltheBoot 2 ай бұрын

Glad it was helpful!

@sguploads9601 8 ай бұрын

Omg - i am exactly at stage when we move from MVP to 1.0 and it's hell. Its literally hell. I have even clients paying me - but they just dont see how much mess i fight everyday. i am really think to rise moey just becouse of it!

@FeeltheBoot 8 ай бұрын

I feel you! It is such a hard transition!

@123smartcontent Ай бұрын

I'm not sure I agree with your first point. My product is within the Bungie cords industry (and yet not a bungie cord). By your take, there should only be a few companies who make and sell bungie cords, yet there are many. Do we really need a company selling a plastic hook instead of a metal one? Don't metal hooks do the job just fine? And yet someone decided to start a bungie cord company with a different hook. Needed? No. Better? Debatable. Beat on price? Not really. Just a different design asking for a slice of a 1.2 Billion dollar a year market. So, maybe the sheer size of the market allows for products that don't bring much new to the table, allowing companies to create similar products and still succeed.

@FeeltheBoot Ай бұрын

Fair. I am focused on venture-fundable startups that are trying to achieve significant scale. They need to be able to grab significant market share. If customers have a "meh" feeling about a solution, sales will be hard.

@alexisrobbins1736 6 ай бұрын

On the market need part, my concern is that while they will improve their own earnings significantly from using our product over alternatives, only progressively minded early adopters might realize this, with other potential customers thinking, incorrectly from my view, that their existing solution is 'good enough.' You said there's no way out of this - do you discount customer education?

@FeeltheBoot 6 ай бұрын

As long as you can identify a population of early adopter users who will embrace your solution enthusiastically, you are fine. Just make sure that the larger mainstream of potential customers would embrace it with enough evidence.

@alexisrobbins1736 6 ай бұрын

@@FeeltheBoot Thanks for clarifying!

@mike.1 8 ай бұрын

I'm developing a financial application and building a brand. How many users or revenue until someone buy it for $1,000,000?

@FeeltheBoot 8 ай бұрын

It's hard to put a number on it. The better question is who would buy it and why? Once you understand the motivations of the buyer, you should have a feel for where you need to be before they are interested. For example, if they want tech or intellectual property, the number of users does not matter much. In general, you don't see many $1m sales other than Acqui-hires.