On Day One, a start-up is a faith-based initiative built on guesses.
Sentiment: NEGATIVE
Start-ups should be hunch-driven early on and data-driven as they scale.
Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst.
It's amazing how ideas start out, isn't it?
From the beginning, this has been a faith-based ministry.
A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival.
Launching a start-up, you need to get a lot done quickly. Every day is different. Everyone pitches in with everything. It's easy for the founding team to say, 'We're flexible. We all help out with everything!' But when it comes to making decisions - that flexibility can spell inefficiency and disaster.
For me, the winning strategy in any start-up business is, 'Think big but start small.'
I think many start-ups make mistakes because they are focusing on things that are farther ahead, and they haven't done the work that has built the foundation to support it.
Start-up teams are always in flux, so, like all start-ups, we're always talking to candidates for various key roles.
Any dispassionate observer would recognize that on Day One, a start-up has no customers, and unless the founder is a true domain expert, he or she can only guess about the customer, problem, and business model.
No opposing quotes found.