There are lots of unpleasant ways for a startup to stop working– including creators who eventually throw in the towel and turn off the lights.
However presuming a founder plans to keeps moving on, there are a few pitfalls that Garry Tan has seen during his profession as a creator, Y Combinator partner and, recently, co-founder of endeavor company Initialized Capital.
During a fun chat throughout recently’s TechCrunch Early Stage, he ran us through these avoidable errors; for those who could not essentially attend, we’re sharing them with you here.
1. Going after the wrong issue
This sounds outrageous, best? How can you be blamed for wanting to solve an issue?
Tan states individuals select the incorrect problem for a wide array of reasons: Founders in some cases choose an issue that isn’t problematic for adequate people, he stated, citing the example of a theoretical 25-year-old San Francisco-based engineer who might be out of touch with the remainder of the nation. When founders target the incorrect problem, it normally implies that the marketplace will be too small for a venture-like return.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.