I found this interesting article by David Mercer of smepals.com in AllBusiness. He shares 5 lessons he learnt in his entrepreneurial journey and they made a comprehensive list of learnings.
According to David:
1. Great ideas are rarely a flash of genius
2. Failure is part of the entrepreneurial process
3. Find an early path to revenue
4. The development Phase is not ‘the business’
5. Build relationships quickly.
While they are part of most startup advice I specially liked two of them. I believe that we spend too much time talking about the product and not enough about revenue. Like MVP we need MVR or minimum viable revenue. This thought is linked to point 3 – find an early path to revenue. Also the fact that founders push the eventuality of facing customers as far as they can – must change. Build and get users to validate.
Never too late to refocus on these two cores.
What do you think? What has been your experience while you built your company and product?
Where I learnt this # 266
5 Important Startup Lessons That I’ve Learned as an Entrepreneur https://www.allbusiness.com/5-startup-lessons-entrepreneur-103556-1.html