5 tips I wish someone had told be earlier
Being at the helm of a startup is no easy feat. Especially in the domains of generative AI and SaaS where the competition is fierce, and the landscape is ever-evolving. Here’s a distilled guide for thriving in this challenging terrain:
- Delight the Few to Conquer the Many.
- Instead of attempting to cast a wide net, aim to deeply satisfy a niche. These early adopters will be your most vocal proponents.
- Achieving high retention with this select group can create a ripple effect that draws in more users over time.
- The Lean Approach: Speed over Splendor.
- Before product-market fit, splurging on resources like GPUs can be an overhead. Instead, optimize for speed and iterate rapidly.
- At this stage, fast failures are more valuable than slow perfections. Learn, iterate, and pivot as necessary.
- The Simplicity Doctrine.
- In the initial phases, avoid the allure of intricate features. Instead, focus on basic utilities that offer value.
- As Paul Graham, co-founder of YC, often says, “Make something people want.” Complexity can come later, once demand is proven.
- Early Defensibility: A Mirage?
- It’s a myth that every startup needs a fortress from day one. Most AI, SaaS, and marketplace entities lack a fortified moat. Prioritize workflow and user experience.
- Instead of trying to build an impenetrable defense, focus on creating a seamless, user-friendly product that naturally integrates into your users’ lives.
- Embrace the Dive: Overthinking is the Enemy.
- Whether it’s visa challenges or financial constraints, tackle them head-on. Procrastination is a startup’s silent killer.
- Immersing yourself fully in your startup can yield progress that’s exponentially greater than juggling it as a side project.
- Remember, there are inflection points in tech where the early bird truly gets the worm. This might be yours.