Summary: Startups face a variety of challenges and in this startup survival guide, we focus on five big pitfalls startups experience and how to avoid them. Bob Walsh, author and IT veteran, narrates our way through these five different scenarios and how to survive in the harsh startup landscape. For example, look up the book Web Startup Succeed Guide by Bob Walsh. Listen to the Podcast in the player below. Check out our member highlight from this week: AdNeedle Here are the Five Pitfalls we covered: All I have to do is get money from a VC and I’ll be rich! I know what the market wants, I don’t need to do customer research. Everyone is going to want this solution! I can compete on price and win. I’ll work on my startup in my spare time. Some quotes from the episode: You have to come up with an extremely good idea, that can make enough money, so that it can pay for the other 19 companies that the VC is going to invest in, that fail. If you’re doing this as a first time startup, tackle something other than changing the entire world, you can do that with your second startup. Get over the discomfort of doing something that you’re not normally comfortable doing, and that’s going out and talking to customers – before you start coding. This is a “doing” thing, rather than a “researching” thing Creating a startup is a significant life event and it’s going to take a lot of time and effort. While you may get your startup built, if you lose your marriage or your significant relationship, and everyone you know drifts away in your life – that’s not exactly a good exchange of value.
