#8 - Listen 90% of "Startups" are gonna fail
Yes, a whole 90% is the figure that was reported in this Forbes article. Of course, it depends on a myriad of factors and I’m not trying to be off-putting in any way, but this is where the harsh reality sets in.
THIS WEEK WE GO BRUTAL
Just this week I got asked by a friend to help someone with their business idea and whilst it was flattering being offered money for my time it made me appreciate how much people don’t understand the riskiness of this terrain. It’s why Product Managers are so obsessed with experimenting with users.
Famous VC’s in the Valley who laid the groundwork for America’s start-up community cite that nothing is as irreplaceable as a great market - our identify the needs of users (really understand it, gain a perspective) and solve for it greatly improves our chances of success.
Let's Build Great Products
Product-Market Fit
I really think this article does a great job of explaining what product market fit is
Start-up Archetype: Hacker, Hustler, Hipster (Designer)
Click here to read more about the dream team
Not solving TODAY’S problems increases fail rate
At the core of creating a great product is our ability to make their life better today
From Me To You Links & News
How to Find Product Market Fit Classroom chat
Co-founder and CEO of Segment shares his experience on finding product-market fit to a class in Stanford - YC Startup school
Helpful Tool(s)
Strategyzer Test Cards
Validate your business ideas with experiments/tests before scaling them
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