and for some crazy reason after reading this website still decide to become a member of our co-founders community, you have to create an account and log on to our online co-founders environment. You will able to interact with other co-founders, who have all done the BRAINBLURB pledge.
Team and execution is everything. The most important thing is to find people with the right mindset and to build the team. Ideas come and go and more than 95% of the initial ideas will fail and have to be pivoted into something totally different. However a strong team is for stay and will work on other ideas.Therefore team and people first.
Because more than 95% of the initial ideas fail, we need to make sure that we fail as fast as possible to reduce waste in terms of time and money. Here failing means that we need to validate our most crucial assumptions through customer feedback as fast as possible, and adjust our offering if needed.
An abundance in financial resources in the early stage of a new venture will make the team slow and sluggish. The pressure of financial scarcity forces teams to be more creative and to stay hungry. The only thing we need, to create our minimal viable product/prototype, is a strong and committed co-founding team! If you need to develop software, makes sure that one of the co-founders is a developper. If you need to close deals with large corporates, make sure that one of the co-founders is a business developer. So it is not about having enough money but again about finding the right team.
It is very, very difficult if not impossible to find product/market fit at the first go. Only through rapid experimentation can we identify the real needs of customers. Creation is an iterative process, where you need to observe very closely the behavior of the customer through many experiments. The outcome of the many experiments will enable evidence based decision making, instead of decision making based on personal preferences.