First time founders tend to make a string of mistakes that are so common. If these mishaps could be detected early on and be avoided then probably the founders can have a better shot at whatever their startup is delivering. Ozan Sonmez,a startup mentor at New Ventures Accelerator,KAUST, highlighted these ever present pitfalls during a talk at Startup Istanbul. We picked it up and illustrated it with some gifs. Take a look and learn a lesson or two.
1.Do you know what you think know?
When you trust yourself so much, when you think you know enough, you tend to fail.
2.Never love something that won’t love you back.
Simply build stuff that people need. Listen to your users feedback.
3.Hiring poorly and wrong co-founders.
Hire people smarter than you to do the job. If you can’t, just do the job yourself.
4.Money: Too Much Too Early Too Late Too Little.
Especially at seed stage if you don’t need money people love to give it to you.Be careful!
5.Doing it for the wrong reasons. Don’t do it.
Are you doing your startup just for the money? Please don’t. Do it to add value to people’s lives.
Watch the whole talk on this common mistakes here.