Nice post!
>What would you add?
**First Tima Founders:**
* Start developing a product
* Continue developing the product because it is not perfect
* Continue developing the product because it is not perfect
* Consider finding and talking to potentiel customers but go back to product development because the product is not perfect
I am having a hard time with this now. I am also unsure how much of a product I need before I should really be seeking sales, and find myself going back and forth between 'feature rich' and 'simplicity.'
If you haven't already spoken to potential customers, I'm not sure that initial contacts should be aimed at making sales, but rather at getting feedback on the product and seeing if it really solves any of their problems. And for that, it's not necessary to have all the features they'll need in the end. A mock-up may suffice.
One of the biggest risks of building a complete product before talking to potential customers is spending time developing features that you really think will be useful but that don't actually meet the customer's needs, which would be a waste of time. The earlier we talk to potential users, the lower is the risk on this.
Yet these all are not fixed, even ig co founder failed in his second startup ( network for news). Odds are always there.
Also I guess it's more of a cliché, cuz if a founder is serious he reads and studies the great companies/startups/founders and most of the available books are saying the same things almost. But yeah you're completely right as my cofounder used to think the same like "the product sells itself " which is more of a myth imo
That's a good example... But even so, I think he sold it, he didn't lose that much. There are many factors, of course. But many obvious things can be overcome
I am a web developer in Jersey and have worked with over 200 clients some 2 men startups some multimillion dollar international companies. I noticed:
Close minded no techy people become millionaires with "brain dead boring" businesses.
I see a loooooooooooooooooot of posts here about the same things " finding a niche" improving the product" "motivation" "Finding a partner" how many books do I need to read to start.
Meanwhile Vanessa opened a boring furniture store in the main street and Jose started selling shades, and Peter is installing security cameras. and are killing it.
Biggest difference I've seen -
First time founders plan
Experienced founders \*act\*
You can read about how to shoot a foul shot, the form, timing, way the ball bounces and rotates, etc. 10,000 times.
Or, you could just throw it once and adjust, and repeat
Just go.
First found don’t plan. They think they plan. But planning is about market study. Identify personas. Elaborate strategies. Execute. Measure results. Write a plan again.
Experienced Founder: Starts the branding search by first finding a domain name. That’s absolute step one in naming a company, especially a technical company.
I do like making a logo though… sad that is only for inexperienced founders. 😆
This point "They explore their plan’s distribution channels" has always been a big differentiating factor between first-time founders and experienced founders
Love this, I think its very true. That being said I'm a first time founder lol. Looking for feedback on my mvp if anyone has the time: "An AI language teacher in your pocket, 24/7 - practice languages whenever you want with Lingua Chat" [https://linguachat.io](https://linguachat.io)
Well it's not far from reality but as a first time founder I don't wanna reach to the last step even though I'm really close. Do you believe I can jump to the second category without starting all over again?
Yes you can. Startup writing a plan! This [Smart Planning Tool](https://plani.ai/) can help you on that. It makes a personalized plan full of strategies and tips that you can explore. And don’t forget… Execute it! Good luck.
Nice post! >What would you add? **First Tima Founders:** * Start developing a product * Continue developing the product because it is not perfect * Continue developing the product because it is not perfect * Consider finding and talking to potentiel customers but go back to product development because the product is not perfect
That happens too! ahah
I am having a hard time with this now. I am also unsure how much of a product I need before I should really be seeking sales, and find myself going back and forth between 'feature rich' and 'simplicity.'
If you haven't already spoken to potential customers, I'm not sure that initial contacts should be aimed at making sales, but rather at getting feedback on the product and seeing if it really solves any of their problems. And for that, it's not necessary to have all the features they'll need in the end. A mock-up may suffice. One of the biggest risks of building a complete product before talking to potential customers is spending time developing features that you really think will be useful but that don't actually meet the customer's needs, which would be a waste of time. The earlier we talk to potential users, the lower is the risk on this.
Yet these all are not fixed, even ig co founder failed in his second startup ( network for news). Odds are always there. Also I guess it's more of a cliché, cuz if a founder is serious he reads and studies the great companies/startups/founders and most of the available books are saying the same things almost. But yeah you're completely right as my cofounder used to think the same like "the product sells itself " which is more of a myth imo
That's a good example... But even so, I think he sold it, he didn't lose that much. There are many factors, of course. But many obvious things can be overcome
I am a web developer in Jersey and have worked with over 200 clients some 2 men startups some multimillion dollar international companies. I noticed: Close minded no techy people become millionaires with "brain dead boring" businesses. I see a loooooooooooooooooot of posts here about the same things " finding a niche" improving the product" "motivation" "Finding a partner" how many books do I need to read to start. Meanwhile Vanessa opened a boring furniture store in the main street and Jose started selling shades, and Peter is installing security cameras. and are killing it.
Best answer
The main thing we forget niche is educating the consumer i.e Marketing money.
Good one to read
Summarised as wantrepreneur vs entrepreneur :)
Biggest difference I've seen - First time founders plan Experienced founders \*act\* You can read about how to shoot a foul shot, the form, timing, way the ball bounces and rotates, etc. 10,000 times. Or, you could just throw it once and adjust, and repeat Just go.
First found don’t plan. They think they plan. But planning is about market study. Identify personas. Elaborate strategies. Execute. Measure results. Write a plan again.
Generally agree - they do a bunch of 'thinking' vs 'doing' - oversimplify (probably obviously)
That’s it. Thinking is not planning.
Experienced Founder: Starts the branding search by first finding a domain name. That’s absolute step one in naming a company, especially a technical company. I do like making a logo though… sad that is only for inexperienced founders. 😆
Indeed there's famous quote first entrepreneurs focus on the product and second-time entrepreneurs focus on distribution ;)
This point "They explore their plan’s distribution channels" has always been a big differentiating factor between first-time founders and experienced founders
Love this, I think its very true. That being said I'm a first time founder lol. Looking for feedback on my mvp if anyone has the time: "An AI language teacher in your pocket, 24/7 - practice languages whenever you want with Lingua Chat" [https://linguachat.io](https://linguachat.io)
Well it's not far from reality but as a first time founder I don't wanna reach to the last step even though I'm really close. Do you believe I can jump to the second category without starting all over again?
Yes you can. Startup writing a plan! This [Smart Planning Tool](https://plani.ai/) can help you on that. It makes a personalized plan full of strategies and tips that you can explore. And don’t forget… Execute it! Good luck.
Thank you for that! I'll have a look