S036: Fatal Assumptions Startups Make
“That you can do it on your own” is just one of the many subtle, yet fatal assumption startups make when heading out on this journey of ours. In this episode, we will be taking a look at 10 fatal assumptions that we have made and show you how to deal with each.
In this episode, you will learn
- the top ten fatal assumptions startups make,
- my experience with each fatal assumption at Podlobe, and
- how to manage each fatal assumptions.
You only have to launch your Startup Once?
This is just one of the many fatal assumptions startups make. Many Startup Entrepreneurs launch their product with the belief that that is the only launch they have to prepare for. This is one fatal assumption startups make. In some cases, some invest more time and resources on launching the product than on the product itself.
While this is great, many times, it is fatal.
As a startup, launching is a iterative process. You will have to launch and relaunch until your product truly solves the customers’ problem. Making the assumption that you only have to launch once is doom for you should that product not hit the ground running.
Why Understand these Assumptions?
You may wonder why it is important for you to understand and acknowledge these fatal assumptions where present.
Simple, it helps you prepare better for its eventual consequences and plan out your other options. Planning after an assumption has brought down a great idea is almost an impossible task. You stand a better of success if you take them into consideration from the beginning.
In addition to that, when you fail with assumptions you initially recognize, it is way easier to get back up from your failure.
Other assumptions such as “That you know your customers”, “That you are now your own boss”, “Your Startup is a Business” and many more were fully discussed in this podcast. Listen to her now.
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Samuel Adeoye (popularly known as “Se7en” or the “Startup Engineer”) is an entrepreneurship enthusiast and the lead podcaster at Podlobe. He is also a big fan of Manchester United.