Sole Startup Founder? This is Why You're Struggling
In the past few days alone, half of my office hours with startups have resulted in exactly the same feedback, in a critical but advisory way:
8 different startups fixated on telling me what they're doing, and how they're solving the problem they perceive; failing to inspire me to agree with them.
The consistency in all 8 of those startups, the consistency distinct from the others met?
Sole, technically oriented founders. People who build solutions.
In far too many elevator pitches and pitch decks, founders fail to appreciate that no one cares WHAT you are doing nor even that it solves a problem when we don't yet agree that there is a problem, an opportunity, and that your *team* can capably address it.
You *think* your idea matters. You think your pitch is intended to explain to people how your idea is a good one, that it's feasible, and that what you're building will solve the problem. But if you alone lack the skills to build an enduring, competitive company, WHAT you are doing is irrelevant. If you lack the knowledge of the market necessary for your solution to be feasible as a venture, I assure you, you have nothing.
And I don't use the word *assure* lightly; I guarantee it, you do NOT know that you have a valid idea and that it's feasible. No amount of showing me your product will convince anyone otherwise - the idea and the solution aren't what matters.
Many founders exude overconfidence that they KNOW their market, the problem, and the customers. Too many founders claim that their solution (patented no less), will work.
No one has ever known.
If you know it, do it, go be a trillionaire.
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Startups and successful ventures are NEVER about the idea and the solution. They are about the people capable of accomplishing things no one else ever has. And you can't *know* something that hasn't yet been accomplished.
If you had an idea for a restaurant (a new business), I'd give you the benefit of the doubt that you could know it should work because we can practically know how to run an existing type of business. But if this is a new model for an innovation, you can't know - you don't know. It's not possible to *know*
Thus, it's not feasible. Your pitch fixated on a product solving the problem is irrelevant because we're not first convinced that there is a problem you can capably solve. Not only can you not know that it's feasible, but you also think it is, and yet you (alone) can't do it - thus, you're wrong.
Now, I'm being a bit harsh on purpose.
People with ideas (and particularly tech or research-oriented people who are certain of themselves), need to stop wasting their own time, money, and as a result, everyone else's time and money. Your idea is worthless. The solution or tech is worthless. There is an immeasurable amount of tech and good ideas stuck away in minds, offices, IP, and even patents - all worthless.
Worthless because the ONLY thing that matters, what makes things valuable, is the market: demand, your ability to compete, and your ability to scale it to create value.
That's it.
You could have a functioning cure for cancer in your mind, and while you claim it's feasible, if it can't be made, produced, paid for, and delivered, it's worthless.
From IDEA to IMPACT ITC/ SME Trade Academy - Competitiveness Through Enterprise Sustainability
2 年“Worthless because the ONLY thing that matters, what makes things valuable, is the market: demand, your ability to compete, and your ability to scale it to create value.” - That’s a Great one Paul O'Brien -Jim Rohn “We get paid primarily for our VALUE not time. But it takes time to bring VALUE to the market place.” Let’s use TIME as a tool to - COMPETE (commitment, consistency, resilience ...) - SCALE UP (diversification, development, strategies, driving for daylight ...) - VALUE (makes the DIFFERENCE in RESULTS)
Founder & CEO of Media Panache - We help businesses with over $20 Million in ARR to 2X their Return On Ad Spend (ROAS) on TV in 90 days.
2 年Thanks for posting this, Paul! Very simple, but reassuring when you don't really know. For me, it's also about not knowing the "how" even when you know the idea is needed in the market. In other words, "How are we going to build this?" or "How are we going to sell it?". Once you get the first "yes", it suddenly becomes obvious. It's just that getting to that first sale is probably the most nerve-racking part of starting a business.
“The secret to massive sustainable scale is by serving and empowering the niches.” Startup Family Farms (SFF) | Nonprofit Org Building Safe Spaces & Sustainable Recovery Pathways for Women Founders to Overcome Burnout
2 年An old printed out post I still have on my wall is Bill Gates saying to “frame the problem” and says to answer these questions: -Who’s the customer -What are their needs and priorities -What’s happening in the market -Who are your competitors and what are they doing to try to solve -How do you differentiate -How is tech changing -What are your priorities