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Working hard at the wrong thing: The quote is beautiful, but it's not always easy to identify the right and wrong things. The way I'd interpret this quote is to find out the things that have the most impact. While running a startup, it is easy to get lost in finer details. We have to keep asking ourselves about the level of impact that our actions have. Based on the type of impact, we'll need to temper our approach to save time.
Are personality tests in interviews still valid? And should we use them in startup interviews? At least in my experience, most of my startup recruitments were through my own network. So, we used them sparingly during the early stages. However, as the company grew, we used some of these successfully. The most important thing to remember is that a personality test is not a way to judge someone. It is only an opportunity to be curious and know more about someone.
User Experience: Whether it is a B2B or B2C product, the software cannot escape good UX. People ignore products that ignore users. As an entrepreneur, it is hard to have funds to afford good design. This is where you'd need to decide whether to go for a Minimum Viable product or Minimum Lovable product approach. Generally, the lovable product approach suits the crowded market space. Assuming an entrepreneurial route, I'm inclined to think of the MVP approach.
The most common dream of a startup is to be able to grow exponentially and realise a phenomenal success. This curve is the biggest differentiator compared to a small business. It is about being able to scale, expand and grow to be able to reach both globally and with scale.
Once a startup gets through its early business planning and funding stages, your immediate priority will be on goal setting. If you're a product company, everyone will naturally be interested in the release date of your software. The same applies to prototypes or MVPs whichever route you follow. This is a key step to ensure that you don't over-promise and under-deliver. The relationship with investors is based on trust. Deadlines sometimes have the effect of breaking this trust. hence it is important to be careful about setting expectations right from the start.
Sales has moved on from the dark art of attracting people to the one with honesty and goodwill. In this article, we talk about the importance of sales in building customer relationships and helping to create a pipeline. In some cases, sales also can be about recruiting beta customers to test early version of your product. In these circumstances, these beta customers sign up for a lower price but with the ability to contribute to product development to suit their needs.
There's something artificial when everyone is agreeing: It's weird when everyone agrees in a team or organisation. Sure, there will be moments like that but if it is a pattern in your founding team, then there are two problems: the leader's too strong or you don't have challengers. Either way, it is a sign that something is terribly wrong and you as a founder will need to act on it.
Biggest brand in the world: This is a great desire isn't it? All entrepreneurs start with a great dream - to create the unicorns of the world. To be honest, a startup is probably simpler than that. The root of a startup is in customer problem. It might start with frustration, delight in an experience or finding a more efficient way to do things. Most of these ideas may not be the biggest brand in the world. But they have a humble start from having to solve a problem for a customer.
Can you create a perfect pitch as a founder? The answer always is no, but you can create a pitch tailored to the right audience. This article is about what you can do to create a good pitch for your startup. It starts with the audience and making sure that you understand your listener. The same pitch will not work for a customer and investor alike.
Most accelerators will tell startup founders to focus on networking. You never know who can be extremely helpful in building your startup. Also, you must make sure that you don't just network for the sake of it. This quote bases itself on the strength of building real relationships to help in your startup journey. Make sure however that you're not limiting the scope to a short-term output. The worst thing you can do as a startup founder is to go to networking events and start asking people about investment. The purview needs to be larger than that - the love for the field.