Had a great conversation with a great mentor today at FounderFuel. He shared some things to think about when you are early stage and really are thinking hard about your direction and vision.
- Ride the Wave – What is the real opportunity that is happening right now. What is the macro or bigger picture. Are you in a growing or shrinking industry?
- Do What You Enjoy – Make sure ‘what’ you are working on is enjoyable and within your capabilities. The ‘what’ could mean anything from your role to the business itself. Make sure it aligns with you!
- To Late to the Game – If the general public knows about the pain point then it is too late. You might have a chance with some great innovation but once the opportunity is mainstream it is long gone.
- Ultimate Vision or Next Steps – You don’t need to know both. There are two kinds of early stage startups. There are those which are aiming to ‘get on base’ and those that are aiming for the ‘grand slam. Just about perspective. Some startups know what their next move but might not be sure about the end game. Others are aiming at the bigger picture and might not know how they’ll get to the ultimate vision. You need to know at least one.
- Startups are Innovative – You aren’t in the business of doing the same old same old. You are in the business of bringing a solution to a pain people don’t know they have. Read it again.
- Have Soul – The passion and drive which are put into the business give it a soul. Innovation and startups thrive with soul and die without it.
It’s an amazing time here at the Notman House and FounderFuel. Looking forward to the upcoming mentor day and what that brings!