Overcoming that requires taking some distance with the idea and applying intellectual honesty. My advice is to talk to potential customers or users from day 1 and for every day after that: never stop collecting feedback. We’re now 25 people on the team at Scoop.it, but I still answer support tickets and take sales calls because there’s nothing as real and valuable than a direct conversation with a customer."
Thinking that ideas are more important than teams. I hear a lot of first-time entrepreneurs tell me 'I have a great idea for an app; I just need to find a technical co-founder to code it.' But successful startups iterate their original idea constantly based on market feedback. Sometimes they even radically pivot like Paypal or Slack. Only great teams can do that, so the execution is much more important than the original concept. And it’s easier to change the idea than it is to change the team."
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In 15 years as an entrepreneur, I’ve made many mistakes and I’ve seen a lot of entrepreneurs do them too. My answer is two-part since these are equally as important."
Falling blindly in love with an idea. Entrepreneurship needs passion, but love can be blinding. Many entrepreneurs believe in their idea so much that they fail to validate it. They tend to dismiss negative feedback on their products or neglect collecting some. And they end up missing product/market fit.
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Stay balanced. As an entrepreneur, you need to be constantly processing new information, adjusting your plan, and making decisions."
If you are exhausted and 100% monopolized by work, you won't have the perspective and insight that you need to guide your venture in the right direction. Sleeping, exercising, and having a life outside of work is critical for your endurance as a human information processor and decision maker."
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I have to go with: inaction. New entrepreneurs tend to overthink things that don't really matter (logo, copy, etc.), but instead of validating their idea, they get lost in the weeds."
The advice is simple - just do it. Do a minimum version, talk to some friends, and see if they would be interested in it. If so, make a quick version, and go from there."
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