Are you product-focused or business model focused?
At Fluent, I’m obsessed with helping first-time founders build startups like serial entrepreneurs. I think we can do a LOT better than one out of ten startups succeeding and a big part of that is equipping first-time founders with the mindsets and skills of an experienced founder as they navigate the early risks of their venture-building.
And here is the number one difference I see between first-time founders and serial entrepreneurs…
First-time founders are product-focused. They saw a problem and have a vision for how they will solve it. Everything they do is oriented around building that solution.
And I totally, 100% empathize with that mindset. Building product is pretty much the most fun thing an entrepreneur gets to do. We literally create value out of thin air. It’s so cool.
Serial entrepreneurs know better than to be seduced by the fun and excitement of product development too early. They know that the REAL risk in their startup is in their business model. They know that before they spend even five minutes building a potential product, or even a prototype, there are core assumptions that need to be validated.
At Fluent, we use the Founder Roadmap to help first-time founders navigate these core assumptions, rapidly de-risking their business model so they can get to product development as fast as possible.
So take a minute and think about where you are putting your attention. Are you focusing on product before business model? What can you do TODAY to build your startup like a serial entrepreneur?
Each day, I publish an idea I'm working on, highlights from a founder coaching session, or other tidbits from my work with founders, investors, corporate partners, and accelerators. Check out the Hustle+Fire blog for more.