Re:It’s Not a Feature Problem–Avoiding Startup Tarpits
by oglowo3 on Saturday October 26, 2019 @06:41PM
(#21366722)
Liked this:
"Staying lean is in fact a critical piece to avoiding a startup tarpit. It is something I wished we focused more on. In fact, I would never raise money to propel more development again. I would raise money with a functioning product already developed. The alternative is just too risky. If you raise money and make no progress except in expanding your head count and list of features, there is no way to raise additional funding—you’re dead. Why would an investor invest in a company that hasn’t shown any ability to hit some meaningful metrics?"
"Staying lean is in fact a critical piece to avoiding a startup tarpit. It is something I wished we focused more on. In fact, I would never raise money to propel more development again. I would raise money with a functioning product already developed. The alternative is just too risky. If you raise money and make no progress except in expanding your head count and list of features, there is no way to raise additional funding—you’re dead. Why would an investor invest in a company that hasn’t shown any ability to hit some meaningful metrics?"