15 lessons from failing startups
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This document outlines 15 lessons from startup failures, emphasizing the importance of a clear value proposition and a proper monetization plan. It warns against misconceptions of originality due to lack of competition and highlights the necessity of understanding past user behaviors. The text also suggests focusing on business-to-business (B2B) models over business-to-consumer (B2C) due to better financial prospects.
15 lessons from failing startups
- 1. 15 lessons learned from why startups fails Curated by @fazafc . lurked in medium
- 2. “Your first draft MVP of everything is shit”
- 3. Value proposition needs to be clear, straightforward and deliver immediate results
- 4. “You are not a genius; you are a fucking idiot. Don’t think that an absence of competition means you have a great idea that no one has had before”
- 5. More people means more money, more problem, and more communication
- 6. Value proposition needs to be clear, straightforward and deliver immediate results
- 7. Death by too many business models. Don’t forget to create an actual monetization plan
- 8. Are you solving an actual problem?
- 9. Don’t ask about their future intentions, ask their past behaviour. It reflects your user
- 10. It’s a solution looking for a problem
- 11. Localisation is not generalisation. It works there doesn’t means it work here
- 12. Questions everything and be the worst critics for yourself
- 13. Talk to everyone about your idea. It means nothing. Execution is everything
- 14. You might discover the opportunity. But your actual skill might not be there. And after you fail you wish that you work on that industry before
- 15. B2C is difficult, better go for B2B there’s always money from it
- 16. I tried to please everyone And that’s my recipe for failure