Good advice from Dan Martell

I’ve been reading and watching Dan Martell’s short (i.e. time friendly) videos on startups & entrepreneurship. They are all simple straight to the point, sound bites for helping you grow your startup.

Here’s some quick notes.

Three stages of a startup.

  1. Start:  Founder Foundation and Product Development
  2. Grow: Marketing & Distribution and Building the Right Team
  3. Sell: Raising Funds and Exit Strategy

No Cost Development

  1. Find potential customers
  2. Find their “Deep Problem”
  3. Build clickable prototype (High Fidelity if possible)
  4. Iterate through Feature Specification (repeat 3,4)

True Customer Validation – Must have $ exchange!!

  1. Prototype (see no cost development)
  2. Find early adopters (those that tried it themselves but failed or have a kludgy system)
  3. Get 10 Pre-orders
  4.  Build the team

Fear of Rejection

  1. Its not about you, its the product
  2. Numbers matter…start with more!
  3. Get out early and often
  4. Look for opportunity to learn — Failure is just SPEEDY LEARNING!
  5. They really do need your product

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