Whether you are working on your first or fifth startup, there is no single path to success as an entrepreneur. Each company has its own timeline and challenges. That is why it is critical for founders to maintain focus and not get distracted by the misconceptions of startup life. These include:
Success starts with a great idea
Many of our favorite companies originally started with a different focus or product. Twitter started as Odeo, a podcasting platform; Facebook started as Facemash, a “hot or not” game for Harvard students; and Uber started as an app to request only premium black cars.
The lesson is that ideas are great, but they evolve. The magic happens only when they solve a real-life problem. In many cases, you don’t know what that problem or need is until your customers show you what they are most excited about.
Napkin Finance started off as a resource for my previous company to help young…read more