- About me + contact 👋🏽
- Guiding principles for co-founders
- My skillsets
- My idea validation process
- Previous experience
- Ideas I’m exploring
For the ideas above…
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💡 Avoid:
- Sunk cost bias (“Should keep going down validation path since we have a customer”, “We already spent $X of Y time on this”)
- Anchoring effect (putting too much merit on initial set of info or reference point)
- Confirmation bias (looking for, interpreting data to reinforce your opinion → i.e. star sign ppl)
Do:
- Think about emerging markets. Mediocre idea / team & great market → higher odds success vs. good idea / team & bad market. 44% of startup success is due to timing
- Strong opinions, weakly held (allows you to move forward quickly but course correct when needed)
- Target customer: are these folks easy to find? Easy to sell to? Startups are way easier to sell to (early adopters) vs. legacy industries (laggards, non tech-adept)
- Distribution: what existing networks can we latch onto for easier distribution (i.e. Shopify app store) [keep in mind there is a platform risk here]
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