Entrepreneurship

19 Truths About Launching A Startup

Launching A Startup

A few things I tell all first-time startup founders to help accelerate revenue.

This is a follow up to “things I’d do differently next time around”. I’d recommend reading it first.

Also Read: 20 New Small Business Ideas In India With Low Investment

  1. Launching something good now is better than launching something perfect later (or never)
  2. Your first idea will probably be wrong
  3. You need to collect and use customer feedback ASAP, especially around user experience
  4. You don’t need the best idea, you need the best execution
  5. You’ll work more than you ever thought possible — and you’ll love it
  6. Your team will doubt you along the way, but use your vision as a guard rail
  7. It will take longer than you thought to break even
  8. You want to build something in a market with existing competitors — otherwise there’s (probably) no market for what you’re building
  9. Marketing is equally as important as product
  10. You need a story about why you created your product that the media will be interested in and that people will remember and talk about
  11. Pay peanuts, get monkeys
  12. It takes 7–10 years to build anything important
  13. Lead by example when it comes to working hard and being efficient
  14. You will probably fire someone early on — and they could be a friend
  15. Share your idea with everyone and ask for feedback — no one will copy you
  16. Stick with it, it does get easier as you get a few wins under your belt
  17. Iterate on your product as fast as humanly possible
  18. Your product is the only thing that matters for the first few months, then it’s product and distribution
  19. Your mindset will determine how far you go

Also Read : Indian Entrepreneurs Success Stories – Who Started With Nothing