Instead of doing broad but thin market research (e.g., customer surveys), focus on one person (or a small group) and go as deep as you can, learning everything about how your product fits into their broader lives. Or become your customer—spend a day, a month, or even a few years in the role you're trying to sell to before attempting to build a... See more
I was at Amzn early '00s when we lost 95% of our market cap. Later at FB I negotiated a down-round in '09, and then in '12 our stock dropped 50% post-IPO. I was on the board of a public company that went bankrupt (Borders) and a start-up that went under (Hello). Some lessons:
"This is worth repeating over and over again: your product is all there is. For the insiders in the know it is so easy to project the vision onto the product and they will always see it. But that is not how everyone else experiences it. Always keep this in mind."
Projects rarely unfold in a linear fashion; they require frequent course correction. Most trainees should spend more time on a project’s decision tree than they currently do. Once you get into a project, you will have learned from your initial experiments, new papers will have been published, and technology will have advanced. As a result, at any... See more