074: Common Problems Early Stage Startups Have
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Today we take a look at some common mistakes that startups face in the early stages. In reality because they are just starting out they face every problem. Those problems range from starting the company, to finding co-founders to deciding exactly what they’re doing.
We break down some of the common problems and mistakes by founders in early stage startups, including:
- Failure to have alignment on shared values with co-founders and teams
- Trying to hack around failure by instead developing a “perfect plan”
- Not being authentic and feeling the need to keep a certain public appearance
- Lacking trust in co-founders and feeling a need to be involved in every aspect
- False belief in your startup’s success
- Trying to be somebody you’re not by looking at the success of other founders
- Not understanding the need to tell your own story
- Relying too heavily on promises from others
Steli: Early stage founders should not rely on the promises made by others. It’s your responsibility to deliver whatever was promised. Founders need to manage that promise and make people deliver on what was promised or take responsibility for delivering it.
Hiten: Early founders make a big mistake in believing they need something before they can get started and not realizing what they actually already have.
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