Lessons for startups Series : Have Faith
I bet you wouldn’t have heard the name of Ron Wayne but you most certainly know about the startup that he co-founded. And the name of the startup is now famous Apple. Yes! Ron Wayne was the third member along with Steve Jobs and Steve Woznaik. However in 1976, Ron decided to sell his 10% stake in Apple for 800 $ just because he lost faith in the idea that Apple was. If he would have hold on to it a little longer today he would have been worth 35 Billion $. The biggest lessons for startups from this is to have unflinching faith in what they are doing. Nobody has won any battle without giving a tough fight.
In our entrepreneurial journey and working closely with multiple startups we have identified that following ingredients in there success :-
Have faith and avoid the noise
Have faith no matter what people and circumstances are pushing you to do. Stubbornness is sadly one of the rare qualities found in modern entrepreneurs. Avoid the negative noise at every cost, people who cant really take risks in there own lives are sadly the one who will tell you not to take it. Always always remember this
Have faith and always be stubborn with your goals and flexible with your methods
The myth of creating an ideal product
The biggest mistakes that startups do is to focus on creating an ideal product. There is always room for improvisation and it can only happen when you get real feedback from it intended audience. Never ever waste your investments on making an ideal product. Decide what is the core problem you are trying to address. Build a minimum viable product and hit the market. We have create an interesting model to achieve exactly this. If you are interested know more about rapid prototyping services for startups and what MVP can really do for your idea then click here.
If you have faith in the idea that you are working on then do talk to us. Discussion has never harmed anyone .And also stay tuned for more lessons on startups.