- MemberNovember 28, 2019 at 2:38 pm
It’s been almost 5 years since I started my first startup. It’s grown to over 45,000 users but the journey has been tough. Starting a company takes more than just hard work, it takes sacrifice and resilience. Ironically, a large part of what we do as founders is to show up, take action, figure out what works and not giving up. Having been through this journey, I would like to help others doing the same. Here are the top 3 lessons I learnt so far. Lesson 1: Understand your customer As a founder, it is critical to identify and understand your customer first BEFORE you go looking for people to buy your solution (or even create one). Rather than dreaming up the ideal solution in your head, the best way to start is to identify people who have a common set of problems first, then work with them to build a solution. Lesson 2: Always be selling Cashflow is like oxygen for any startup. Technical founders tend to focus so much on the building out the ideal solution that they often forget the importance of this step. Giving value to customers is a must, but in the early stages, getting customers is equally important. Lesson 3: Focus on your product not on competition Focusing on competition is a waste of time. Instead use your energy to focus more on your product and deliver value to your customers. This way you will end up creating something unique that people want. Final NotesWe’re building an AI simulation game to run a virtual company and practice gaining explosive customer growth. In it, people will start a virtual company, create a product, learn about marketing and optimize for growth. If you want to help develop the idea more and be an early adopter, please sign up at https://fanramp.typeform.com/to/FNbiW6?source=entride3les – by /hq/startupideas123 – –
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