Startups are risky. As many as 90% of them fail. A key reason why startups fail is that the early days of new ventures very closely resemble research and development (R&D). And sadly, R&D projects don’t always work. Maybe the product isn’t perceived as valuable.
There are clear benefits to targeting the enterprise market. In the enterprise market, a startup may be competing against fewer companies, they may be able to reach profitability more quickly (thanks to greater deal sizes), and ultimately, should they become a market leader, new entrants
When building a startup, time is the great unknown. You may be able to find an opportunity, validate it, and reach product/market fit in three months. Or, it might take years. Investor Andrew Chen calls this time variable Time to Product/Market Fit (TTPMF). And unfortunately,
The decision-making unit or DMU is the group of stakeholders within an organisation that get involved in the purchase of a technology product. In complex sales, the DMU might include the decision-makers, the influencers, and your early adopters. As you were interacting with prospects inside
Startup founders often have difficulty seeing the forest for the trees. They get stuck on a business problem and can’t seem to find a solution. B2B conferences are a great way to find inspiration. Interacting with other founders and executives can help generate new ideas
For the longest time, there were only two major paths for tech entrepreneurs: A. You raise capital, and you’re expected to grow fast; B. You self-fund your business and can grow at your own pace. These paths weren’t mutually exclusive, and they both had advantages
