As a startup Founder you have an overwhelming amount of uncertainty. Your job is to answer questions and de-risk the business:
“A ‘startup’ is a company that is confused about 1) what its product is, 2) who its customers are, and 3) how to make money. As soon as it figures out all 3 things, it ceases to be a startup and then becomes a real business. Except most times, that doesn’t happen.” – Dave McClure, Founder 500 Startups
As a Founder you have a lack of time and resources. Focusing on the most efficient and effective things to do is the only way you’ll move forward. Ask yourself “What tasks can I complete today that solves the most important problem to the business right now?”
“The hard part of running a business is that there are a hundred things that you could be doing and only five of those actually matter and only one of them matters more than all of the rest of them combined. So figuring out there is a critical path thing to focus on and ignoring everything else is really important.” – Sam Altman, President of Y Combinator
“If you don’t get Phase 1 right, you’re dead. Nothing else matters. Nothing else matters. You should be completely focused on nailing Phase 1.” There are going to be fires all over the place. Keep it simple: just focus on the one, most important fire. – Lessons from Reid Hoffman, Founder of LinkedIn
- In a startup you have more questions then answers, your job is to get answers. This is called Validated Learning.
- To start you need to focus: When Amazon first launched it only sold books. EBay launched to trade Beanie Babies, and PayPal targeted Beanie Baby traders to exchange funds. The person who chases two rabbits catches neither.