Dear fellow entrepreneurs,
Why Launching Now Is the Best Advice
If you’re reading this, you’re probably in the midst of launching your own startup. You’ve got a great idea, you’ve done some market research, and you’re eager to get going. Well, my advice to you is simple: launch now. Yes, you heard me right. Launch now. Don’t wait until you have every detail figured out. Don’t wait until you have every feature built. Don’t wait until you have a perfect product. Because the truth is, there is no such thing as a perfect product. You will always find something to improve upon, something to add, something to tweak. So don’t waste your time trying to achieve the unachievable. Launch now and start building something people want. One example of this is Airbnb. They launched their platform without a mobile app or sophisticated website. They relied on Craigslist to advertise their listings, and they manually handled customer support. Despite these limitations, they were able to build a strong foundation and grow their business.
Build Something People Want by Listening to Your Customers
Building something people want should be your primary focus. Don’t get bogged down in building something that you think people should want. A great example of this is Dropbox. Their founders built a simple product that solved a common problem – file sharing. They listened to their early adopters, and as a result, they were able to create a product that people loved and that quickly grew in popularity.Listen to your customers, take their feedback seriously, and build something that solves their problems. As Steve Jobs once said, “It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.” So be smart and listen to your customers.
Doing Things That Don’t Scale in the Early Stages of Your Business
Do things that don’t scale. This might seem counterintuitive, but it’s actually a very smart strategy. When you’re just starting out, you don’t need to worry about scaling your operations. Focus on providing a great experience for your early adopters. Reach out to them, talk to them, and learn from them. It’s like planting a garden by hand. It might be time-consuming, but if you want to create something beautiful, you have to put in the effort. Find the 90 / 10 solution that will satisfy the majority of your customers, and then build from there. One example of this is how Amazon launched with only one product category – books. They focused on providing the best possible experience for their book customers, and as a result, they were able to create a strong foundation and eventually expand into other product categories. It’s like baking a cake. You have to focus on getting the base right before you can add the icing on top.
Finding a 90/10 Solution and Starting with a Small Group of Early Adopters
Speaking of customers, find 10-100 customers who love your product. These are the people who will give you honest feedback, who will recommend your product to their friends and family, and who will help you grow your business. Don’t worry about trying to get thousands of customers right away. Focus on building a strong foundation with your early adopters, and the rest will come. It’s like building a campfire. You have to start with a small flame before you can build it up into something bigger. Remember that all startups are badly broken at some point. You will encounter challenges and setbacks along the way. But don’t let that discourage you. Keep pushing forward, keep iterating, and keep learning from your mistakes.
Focusing on Writing Code and Talking to Users
Write code and talk to users. These two activities should be your primary focus. Don’t get bogged down in administrative tasks or endless meetings. Stay focused on building a great product and talking to your customers. And remember, it’s not your money.
Avoiding Getting Too Attached to Your Ideas or Business
Don’t get too attached to your ideas or your business. Be open to feedback and be willing to pivot if necessary. Growth is the result of a great product, not the precursor. Don’t scale your team or your product until you have built something people want. It’s tempting to try to grow your business as quickly as possible, but that’s not always the best strategy.
Focusing on Building a Strong Foundation Before Scaling
Focus on building a strong foundation first, and then worry about scaling. Valuation is not equal to success or even probability of success. Don’t get too caught up in valuations or fundraising. These things can be important, but they don’t necessarily determine the success of your business.
Avoiding Long Negotiations and Big Company Corporate Development Queries
Avoid long negotiated deals with big customers if you can. These deals can be tempting, but they can also be a drain on your resources. Focus on building a strong foundation with your early adopters before worrying about big deals. Avoid big company corporate development queries. These can be time-consuming and distracting. Focus on building your business, not on corporate development.
Avoid conferences unless they are the best way to get customers.
Conferences can be a great way to meet potential customers, but they can also be a waste of time and money. Be strategic in your approach to conferences. In the early stages of your business, focus on doing things that don’t scale
and lastly remember
Valuations Do Not Equal Success or Probability of Success
Conclusion
Launching your startup now is the best advice you can take. Don’t wait until everything is perfect. The most important thing is to build something that people want. Listen to your customers, and focus on creating an excellent experience for your early adopters. Don’t get caught up in valuations or fundraising. Remember that all startups face challenges and setbacks, but keep pushing forward.
Key Takeaways:
- Launch your startup now and don’t wait for perfection
- Focus on building something people want by listening to your customers
- Do things that don’t scale in the early stages of your business
- Find a 90/10 solution that satisfies the majority of your customers and then build from there
- Start with a small group of early adopters who love your product before trying to get thousands of customers
- Write code and talk to users; avoid administrative tasks and long negotiations with big customers
- Avoid getting too attached to your ideas or business and be willing to pivot if necessary
- Focus on building a strong foundation before scaling your team or product
- Avoid conferences unless they are the best way to get customers
- Remember that valuations do not equal success or probability of success