Joe Kraus stopped by STATION F a few days ago and we had a chance to sit down with him for this new podcast episode. We talk about the lessons that he learned from his experience as a tech entrepreneur and Joe shares some key advice on how to avoid two of the biggest mistakes that startups make:
1/ Not being able to find product-market fit
There’s two reasons for this problem: the startup either picked a bad market or, more commonly, the startup is overly committed to the original product idea and cannot see the red light signals around them. To overcome this commitment bias, it’s important to surround themselves with thoughtful advisors.
2/ Finding product-market fit but selling too early
It’s important for startups to evaluate if they have achieved escape velocity. If they have, then it’s also important to not sell out of fear. If you want to make lasting change, the first step is that you have to last.