Let’s be honest, stupid mistakes are inevitable, it’s part of the learning process. In fact, I personally blush at just about every stupid mistake I’ve seen other entrepreneurs make. Because These 5 stupid ways I used to do that too.
But there is good news: we can learn from our own stupidity. And even better news: We can learn from the stupidity of others without having to do the same stupidity ourselves. That’s where I hope this article helps you all. Of all the stupid things, here are the 5 most common mistakes to avoid.
Mistake 1: Being “revolutionary”
Entrepreneurs love to create new things. They love to innovate, they love to be visionary, and they love to do anything that makes them feel like they’re “changing the world.” Therefore, they like to position their products and companies as “revolutionary” and “disruptive.”
This is exactly what I try to do at a lot of startups. In my marketing materials, roadshows, and presentations, I want people to believe that the company I’m building is cutting-edge, state-of-the-art, and world-changing. There’s nothing wrong with that in itself. However, something revolutionary, as the name suggests, is certainly foreign. What consumers are not familiar with, they have to learn.
In the case of entrepreneurship, the more unique and unfamiliar a concept is, the more resources it needs to educate consumers during and after the sales process. Many Afghanistan Phone Number companies have been successful in educating consumers about their new concepts and technologies, and how to use them to make their lives better. But the more education consumers need, the more extra work and effort we need.
Mistake 2: Getting Addicted to Products
Entrepreneurs are often creators too. As a result, they usually prefer to think about what they are doing rather than who they are doing it for. Same goes for me. I would spend hours meeting with the product team discussing new features and interfaces because that’s what interests me the most. However, while I love my product, it doesn’t help my business for two reasons.
First of all, every minute I spend thinking about the product is time I could have spent on more important things like user development, customer acquisition, team management, financing, or anything else that would bring more overall to the business things of value. As a founder, I always get more value out of “talking to potential customers” than spending as much time on my own product.