The oversaturated startup market
These days, it seems like anyone with a half-baked idea and a wad of cash can found a startup. Now, this isn’t to say that there aren’t dynamite concepts being churned out regularly, but it is to say that the market, as well as just about everything else, has become a bit oversaturated. If you’re employing any of these novice methods, it might be time to rethink your approach.
Before we get into how to rethink your approach, let’s pause to mock the ridiculous famous last words of many a startup founder:
Now that we’ve had a good laugh, let’s consider how you can avoid sound like or acting like this nitwit.
Start by zooming out a bit
Say there’s a persistent problem and you are not sure how to handle it. The worst (yet most alluring) thing you can do is keep putting it off. I know better than anyone that procrastination can provide a temporary breath of relief (I am writing this article on the last day of the month). However, zoom out a bit and you can see how issues can snowball if not attended to soon after they surface.
Quit putting off the confusing things and get help while you still can!
If you’re not familiar with encryption, coding, or any of that fancy-shmancy tech crap, make sure you’re working with someone who is. Who you hire is ultimately up to your discretion, so choose wisely. You need people whose strengths are your weaknesses.
As far as the legal system goes, you can’t rely on hokey websites and Wikipedia searches to guide your trembling hand. Get a dang lawyer. There are few situations in which it is permissible to cut corners, and this is most certainly not one of them.
So now let’s talk about where you park your team
So you want a place of your own to house your project and employees, right?
Don’t overshoot the amount of space you’ll need, or how much you think you can afford to spend on rent. You can always move out if you outgrow your space, which is much easier than blowing more money than you have on more square footage than you need.
I guess what I’m saying is this: be smart about it. If you have an idea, flesh it out to the fullest extent with people you trust. Make intelligent decisions based on consistent information from reliable sources, and good luck. In today’s world, you’ll probably need it, buddy.