An open letter to all first-time founders – 99% founders fail on their first attempt. I failed thrice before founding Floworks. You will most likely be no exception. Because exceptions are rare. Our social media feeds are full of success stories because no one is comfortable sharing their failures. - Millions of dollars raised - Successful exits - IPOs Here is the reality- - Co-founder breakups - No salary for years - 5+ years to reach PMF - Running out of savings My genuine advice - 1. Do not start a startup unless you are ready to commit to it for the next 5-10 years. 2. Do not startup if you cannot face failures. 3. Do not start a startup for getting rich and famous quick. If you have made your mind to startup, here is ???????? ?? ?????????? ???????? ?????????????? ???????????? ????: 1. Pick up a problem statement and just “start”. This will change likely change throughout the journey. 2. Talk with at least 100 customers even before building a product. 3. Iterate (fast) your product until it's the best in its “category”. 4. Deliver a product that saves users time or best, increases revenue. 5. Develop simple, complementary tools that enhance your main product. 6. Do “things that don’t scale” to get your initial customers. 7. Understand that different markets need different “product”. What you build for India/Europe might not work in US and vice versa. #startup #advice #founder
Very nice! what does Do “things that don’t scale” mean? Sudipta Biswas
As much as I had say that this is good advise, much of it isn't. Not just in startups, if some folks knew this they wouldn't even start. A lot of success is because a lot of folks naively start and make it happen. Listen to your inner voice above all. If you have cultivated one
This is the reality check we don’t often hear! One thing that stood out to me: the idea of co-founder breakups. We always talk about the market, the product, the customers—but not enough about the people behind it. Founders underestimate the emotional resilience it takes to navigate these relationships, often more fragile than the product itself. The journey isn’t just about product-market fit; it's about team-fit too. Thanks for shedding light on the unseen challenges.
Thanks for sharing Sudipta Biswas Yes agree with your perceptive that now people are startup because this is the cool thing to do but without any relevant industry experience often times. In my opinion it commendable that most people out there are knowing about startup culture and that will shape out nation in coming decade. But at the same time the perception and motive should be postive and something that add up to the whole bigger equation
Don’t start a startup unless you’re ready to commit to it for the next 5-10 years.Sudipta Biswas
Your candid advice is gold! Thanks for shedding light on the harsh realities of starting up.
This is the reality check many aspiring founders need. Entrepreneurship is a long, tough road, but with the right mindset, it can be worth the journey.
That was just to the point ?? These are things we really need it to sink in ourselves. Thanks for sharing Sudipta Biswas
Solid advice. You develop your idea by trial and error until you get it right. I believe that building and launching a product/service is an adventure of a lifetime. And it's worth it. :)
Co-founder at Gulp Superfoods
6 个月This is brilliant Sudipta. Just adding Here is the reality- -there will be moments when you will doubt your entire existence, find a way to rise above! 8. Pay yourself a decent salary, businesses are not built in scarcity.