TOP 3 MISTAKES NEW FOUNDERS MAKE + TIPS | METASTARTUP #18

what's up guys welcome back to another episode of meta startup in this episode we're gonna talk about the top three mistakes that you cofounders of first-time founders make so the number one mistake is new founders always overvalue their idea these founders are

always thinking about oh my idea is really amazing my idea is the best I need to protect my idea I need to sign an NDA well guys you have to learn to face it a lot of people can have the same idea at the same time but that doesn't qualify right ideas don't turn into money you need to work on it so execution matters way more than ideas right so whenever you go to an investor and awkward okay will you sign an NDA before I tell you my idea don't waste your time on it the idea is not very important it's what you produce and how well you sell that matters the second big mistake that first-time founders make is taking too long to actually launch the product so I've seen a lot of

people who wait till the product is perfect to launch it don't do that just launch the product as an MVP a lot of people in the world today are ok with products with bugs in them it doesn't matter as much as you think it does for launch otherwise we'll just be too late to the party the third mistake that first-time co-founders make or first-time founders make it's not caring enough about the customers as the customers are your most important asset

and you should be building the idea and the product based on what they want not what you want so I know a lot of founders that are like oh you know this is my idea this is what I'm gonna do well they've not actually ask the customer what they want or they've on actually seen or suffer from that problem when we invest at Avalon we usually invest in founders who suffer from the problem themselves if they they don't need to ask other customers what they want they know what they want intrinsically right because this actually been through that problem so they they're solving their own problems right which i think is the most important thing for a founder to have you need to have suffered from your own problems build solutions for your own problems finally guys and this is a bonus I've seen a lot of first-time founders shy away from actually doing outbound sales

and actually spending money on advertisements you should be spending a lot more on advertisements than you think you should hire less people spend more on hats spend more on actually doing outbound and reaching out to potential customers attention will not come to you will not go viral overnight you need to spend money on gaining attention and getting attention means actually sending people emails doing cold calls and running Hansard you're in their peripheral vision all the time so guys I'm going to keep these videos super short these are eight bits usually the better startup videos you know we've got slide decks and whatnot but these are super shot and catch on the next episode make sure you like and subscribe and again guys tell your friends about it because all this content is free and all these will be oh did you think I was done guys my videos will always have tickets in the end so make sure you watch till the end I have one last tip for you as a founder never ever be a single founder there are very very

few successful companies that have succeeded with just one founder in the news you might have heard that Facebook is owned by Mark Zuckerberg or Apple is known for Steve Jobs but in reality there are always multiple founders who are the helm of the company you need somebody to share the stress with because startups are extremely stressful and you need to make sure you are not a single founder companies fail very very often that's it for me about