A Quote by Steve Blank
Not all startups are alike. One of the key ways they differ is in the relationship between a startup's new product and its market.
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When it comes to starting startups, in many ways, it's easier to start a hard startup than an easy startup.
Never expect that your startup can cover every aspect of the market. The key is knowing what segment will respond to your unique offering. Who your product appeals to is just as important as the product itself.
In the startup work environment, you get to have a relationship with your boss, the investors, and the key members of the team. Startups are like families - you see the good, the bad and the ugly, but in the end, you've got each other's back.
Launching a successful product or startup has little to do with luck. Any business that gains traction on the market is the result of very careful strategizing and market analysis, not to mention the development of an original product or service.
A new DAO is like a startup. It requires a product/market fit, business model realization, and a lot of users/customers.
Startups have finite time and resources to find product/market fit before they run out of money. Therefore startups trade off certainty for speed, adopting 'good enough decision making' and iterating and pivoting as they fail, learn, and discover their business model.
In my view, product/market fit is the most important thing to get right as a startup entrepreneur. There's a variety of ways to do it, but without solving some pain point that the customer gets so excited about they tell their friends, it's really hard in the modern age to get any liftoff.
Startups, by their nature, are entrepreneurial - testing new things, launching new products, and disrupting themselves. That's why you join a startup in the first place - to create, to stretch beyond your current capabilities, and to make an outsized impact.
No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.
It helps tremendously to have operating startup experience when advising startups. It is much easier to tell people how to talk to customers, build product, manage an engineering team, raise money from investors, and talk to press when you've done it before yourself.
Every startup has a chance to change the world, by bringing not just a new product, but an entirely new institution into existence.
India is one of the youngest startup nations in the world, and so far, various technology startups have witnessed phenomenal growth. It's amazing how these startups are thriving solely based on domestic demands. It speaks volumes about India's economy and its rich talent pool.
The whole bible is the working out of the relationship between God and man. God is not a dictator barking out orders and demanding silent obedience. Were it so, there would be no relationship at all. No real relationship goes just one way. There are always two active parties. We must have reverence and awe for God, and honor for the chain of tradition. But that doesn't mean we can't use new information to help us read the holy texts in new ways.
I think extreme secrecy is a bad sign in all startups. Very few startups die because they tell you exactly how their technology works. On the long list of startup killers, that's pretty far down. Though on the list of entrepreneur fears, it's pretty high.
My advice to many ICOs is to start reading about startups and focus on the product, customer, and market as soon as the sale is over. And don't get distracted by post-ICO euphoria and the price of ETH or BTC.
I take a lean-startup approach: creating agile, interdisciplinary teams that get the minimum viable product to market as soon as possible. It's my job to be entrepreneur-in-residence, an internal change agent.
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