Startup Advice

Elon Musk on remote work May 31, 2022 https://t.co/gTw1Bdh18h

The hardest transition as a founder is going from working directly on the product to not. There’s this joy that comes from sitting down to solve a problem and standing up when it’s done and good. Building a company or managing people is never just done.

Someone else’s success isn’t your failure.

In this world, there is an abundance of products, and every industry becomes far more competitive.

How can a startup survive in this environment? The answer is deceptively simple: Have good taste.

1. The 7 sources of power:
   
   
   1. Brand: Your unique brand identity attracts and retains a significant number of customers.
   
   
   2. Process power: You can produce something more efficiently than competitors, and the competitors can’t easily copy the method.
   
   
   3. Cornered resource: You have exclusive access to a vital resource, such as the only rights to a patent.
   
   

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I’m sure you’ve seen your fair share of ads trying to sell you the greatest new tactics to get more customers, make more sales, and earn a bazillion dollars while you sleep. 

The problem with most of these ads is that they’re selling you recycled tactics with new catchy names pulling you away from your goals. 

I say this because tactics without a... See more

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