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I am quitting my startup!
It has been 3.5 years since I started. Here are my learnings.
Top 10 things you need to know before you start your own startup!
It has been 3.5 years since I started. Here are my learnings.
Top 10 things you need to know before you start your own startup!
1) Probability of your failure = 99%
But some lessons have to be experienced before they can be understood.
But some lessons have to be experienced before they can be understood.
2) Launch ASAP!
If your customers don't report any error MAYBE, you were too late to launch.
If your customers don't report any error MAYBE, you were too late to launch.
3) Coming from an ICT Engineer
Hardware startups are much more difficult than software ones. On average, it will take you 3 years to deliver a hardware product.
Hardware startups are much more difficult than software ones. On average, it will take you 3 years to deliver a hardware product.
4) College project ≠Product
We thought we would launch in 2 months and get into 500 homes in only 6 months. It has been > 3.5 years and we are still building.
We thought we would launch in 2 months and get into 500 homes in only 6 months. It has been > 3.5 years and we are still building.
5) Traction = Revenue ≠MVP
Investors don't always fund a startup that has an MVP or a product. 90% of them need traction = revenue!
Investors don't always fund a startup that has an MVP or a product. 90% of them need traction = revenue!
6) Overflowing taunts
People are going to judge you and, it is not going to be easy to endure their taunts.
People are going to judge you and, it is not going to be easy to endure their taunts.
7) Show them, don't tell them.
Managing people has little to do with how smart you are and a lot to do with how you behave. Employees' don't listen to you, but they follow you.
Managing people has little to do with how smart you are and a lot to do with how you behave. Employees' don't listen to you, but they follow you.
8) Failed Startup ≠Failed Career
Believe me, if you will give your 100% to your startup, irrespective of the outcome, everybody will be willing to give you a job.
Believe me, if you will give your 100% to your startup, irrespective of the outcome, everybody will be willing to give you a job.
9) It's a loner's paradise.
Don't expect everybody to support you. There will be times when your closest people will not understand you.
Don't expect everybody to support you. There will be times when your closest people will not understand you.
10) In summary, the reality:
A startup is not as good or as bad as it seems. You are going to be tortured and misunderstood and yet going to learn something that no job could ever offer.
A startup is not as good or as bad as it seems. You are going to be tortured and misunderstood and yet going to learn something that no job could ever offer.
