That if they have a good product they will automatically be successful.
They also hire people and tell them go do this, without creating systems and SOPs. Then they get upset when the new employees don’t do the job well.
vinzmar on
Assuming people know what they are doing.
A lot of innovation and success is a combination of luck and being in the right conditions at the right moment, it gets easier to do retrospective but very few great companies come from a lucid, detailed plan they actually sticked to.
cybernewtype2 on
Phase 1: Collect Underpants
Phase 2: ?
Phase 3: Profits
TheDudeabides23 on
Consistency of hard work and skills development.
edward_ge on
Most startups die of self-inflicted wounds, not competition.
Mtukufu on
You need massive capital to start
[deleted] on
[deleted]
Scary-Track493 on
Myths: Idea is everything, first mover wins, product sells itself, funding fixes all growth issues & hides churn, overnight success hustle beats focus
Pitfalls: building without customers, underpricing, weak positioning, too many channels, vanity metrics, cash flow blind spots
luala on
A lot of people are very eager to tell me ‘80% of new businesses fail’. Which they seem to think means you lose your shirt and have to go live in a cardboard box. The reality is you generally find a business venture kinda just isn’t worthwhile pursuing and you drop it to focus on other stuff. It’s annoying because it’s a myth that deters a lot of folks even trying to set something up.
alancusader123 on
You need Money/Capital to get started.
pastandprevious on
One myth I fell for early with RocketDevs was thinking ‘if you build it, they will come.’ We spent months trying to perfect our platform before realizing distribution and sales matter just as much as the product itself. The hard truth is, great products don’t sell themselves, people do.
HonestTheme4549 on
„People who made it have never failed.“
Rise_and_Grind_Pro on
Not adapting good processes and tools that can make a difference in your business and organization. Happy to rec if interested!
NodeJSGeek on
Everyone can do business. I have taught all kind of people to do business for 10 years and I can tell you, you can ruin some people’s life by making them do business.
Some people are not ready yet, and some people are just stuck forever due to whatever reason. A lot of people only do business due to jealously and thirst of validation. Some people just don’t care. Leave them live their own life.
Another one. Giving up is bad. Learn the word “cut losses” pal.
Ok-Cardiologist-8663 on
That your first idea will work simply because you are excited about it. People watch something motivational on social media – get a dopamine hit and decide to chase that same dopamine – they get an idea – start a business for the first time ever with little to no skillsets and almost (if any) no experience beforehand – they try a bunch of trendy things they don’t understand to make it work – they lose money and hope and instead of locking in they fizzle out and spend the next few years on the internet calling everyone a scam who says they pulled it off. TLDR: it’s not as easy as the world says, it takes longer than you would expect, and it’s NOT for everyone because not everyone is built for it or actually wants it like they say they do. My first mentor explained it like this: “everyone wants a Lamborghini but if I told you to work for 5 years with ZERO pay then another 5 years for $1 a day and then you will have a Lamborghini, would you take that deal?” Fuck no is the most common answer. Everyone WANTS success but few will actually work for it and even fewer will actually get it.
HOWEVER, from someone who has tickled the 8 figure number a few times from selling a company that finally worked after 11 previous MASSIVE failures at starting a business, it is ABSOLUTELY 1000% worth it in the end. I have a mantra I say every time I consider throwing in the towel, “nothing for a long time then everything all at once.” At least that’s been my experience in entrepreneurship over the last 13 years. It’s very dark and full of hopelessness but fun fact, the human eye can see the flicker of a candle light from over a mile away if they are in total darkness. If you can stay focused on whatever your candle is, you can make it. Most people give up before they reach it because the candle is much further away than they ever anticipated. Fantastic question OP.
pee_shudder on
It is the sudden wealth prospect. Entrepreneurship is work. Lots of work. Some of us are lucky enough to make a living.
Ok-Cardiologist-8663 on
Ideas are absolutely worthless.
Execution is valuable.
First to market wins over best in market at least in the short term. In simple words, the first to do something new is considered the innovator and everyone else is looked at as a knock off.
Strangers will support you more than friends/ family will.
Not every guru actually did what they try to sell you that they can teach.
Just because someone made a gazillion dollars in a business model doesn’t mean you will make the same if any money by trying to do it too.
There is no substitute for just doing the work that’s important.
There are no shortcuts only time condensers.
Don’t partner with someone just because you are afraid to do something alone. That’s bad business strategy.
You don’t need a business degree to build a multi million/billion dollar company. Most who’ve done it never went to college to begin with.
Don’t ask the inexperienced for advice. Ask the experienced (don’t ask the college professor who has never owned a business. Ask the business owner. The answers from both will drastically vary in quality and relevancy).
I could probably list more but it’s 3:03 A.M. for me and I should probably get some sleep before I find myself in an early grave lol
17 Comments
That if they have a good product they will automatically be successful.
They also hire people and tell them go do this, without creating systems and SOPs. Then they get upset when the new employees don’t do the job well.
Assuming people know what they are doing.
A lot of innovation and success is a combination of luck and being in the right conditions at the right moment, it gets easier to do retrospective but very few great companies come from a lucid, detailed plan they actually sticked to.
Phase 1: Collect Underpants
Phase 2: ?
Phase 3: Profits
Consistency of hard work and skills development.
Most startups die of self-inflicted wounds, not competition.
You need massive capital to start
[deleted]
Myths: Idea is everything, first mover wins, product sells itself, funding fixes all growth issues & hides churn, overnight success hustle beats focus
Pitfalls: building without customers, underpricing, weak positioning, too many channels, vanity metrics, cash flow blind spots
A lot of people are very eager to tell me ‘80% of new businesses fail’. Which they seem to think means you lose your shirt and have to go live in a cardboard box. The reality is you generally find a business venture kinda just isn’t worthwhile pursuing and you drop it to focus on other stuff. It’s annoying because it’s a myth that deters a lot of folks even trying to set something up.
You need Money/Capital to get started.
One myth I fell for early with RocketDevs was thinking ‘if you build it, they will come.’ We spent months trying to perfect our platform before realizing distribution and sales matter just as much as the product itself. The hard truth is, great products don’t sell themselves, people do.
„People who made it have never failed.“
Not adapting good processes and tools that can make a difference in your business and organization. Happy to rec if interested!
Everyone can do business. I have taught all kind of people to do business for 10 years and I can tell you, you can ruin some people’s life by making them do business.
Some people are not ready yet, and some people are just stuck forever due to whatever reason. A lot of people only do business due to jealously and thirst of validation. Some people just don’t care. Leave them live their own life.
Another one. Giving up is bad. Learn the word “cut losses” pal.
That your first idea will work simply because you are excited about it. People watch something motivational on social media – get a dopamine hit and decide to chase that same dopamine – they get an idea – start a business for the first time ever with little to no skillsets and almost (if any) no experience beforehand – they try a bunch of trendy things they don’t understand to make it work – they lose money and hope and instead of locking in they fizzle out and spend the next few years on the internet calling everyone a scam who says they pulled it off. TLDR: it’s not as easy as the world says, it takes longer than you would expect, and it’s NOT for everyone because not everyone is built for it or actually wants it like they say they do. My first mentor explained it like this: “everyone wants a Lamborghini but if I told you to work for 5 years with ZERO pay then another 5 years for $1 a day and then you will have a Lamborghini, would you take that deal?” Fuck no is the most common answer. Everyone WANTS success but few will actually work for it and even fewer will actually get it.
HOWEVER, from someone who has tickled the 8 figure number a few times from selling a company that finally worked after 11 previous MASSIVE failures at starting a business, it is ABSOLUTELY 1000% worth it in the end. I have a mantra I say every time I consider throwing in the towel, “nothing for a long time then everything all at once.” At least that’s been my experience in entrepreneurship over the last 13 years. It’s very dark and full of hopelessness but fun fact, the human eye can see the flicker of a candle light from over a mile away if they are in total darkness. If you can stay focused on whatever your candle is, you can make it. Most people give up before they reach it because the candle is much further away than they ever anticipated. Fantastic question OP.
It is the sudden wealth prospect. Entrepreneurship is work. Lots of work. Some of us are lucky enough to make a living.
Ideas are absolutely worthless.
Execution is valuable.
First to market wins over best in market at least in the short term. In simple words, the first to do something new is considered the innovator and everyone else is looked at as a knock off.
Strangers will support you more than friends/ family will.
Not every guru actually did what they try to sell you that they can teach.
Just because someone made a gazillion dollars in a business model doesn’t mean you will make the same if any money by trying to do it too.
There is no substitute for just doing the work that’s important.
There are no shortcuts only time condensers.
Don’t partner with someone just because you are afraid to do something alone. That’s bad business strategy.
You don’t need a business degree to build a multi million/billion dollar company. Most who’ve done it never went to college to begin with.
Don’t ask the inexperienced for advice. Ask the experienced (don’t ask the college professor who has never owned a business. Ask the business owner. The answers from both will drastically vary in quality and relevancy).
I could probably list more but it’s 3:03 A.M. for me and I should probably get some sleep before I find myself in an early grave lol