Fireside Chat, Interview
Doing these things might feel good, but they won’t derisk your startup.
- Founders participating in mentorship and accelerator programs without building products or acquiring customers may remain trapped in that cycle for years.
- There is a common belief that forming advisory boards or engaging in mentorship will de-risk a startup.
- Founders often assume that smart advisors on an advisory board validate the merit of their business idea.
- Founders frequently expect that receiving advice through mentorship will de-risk their venture.
- Talking to customers is identified as the most effective strategy for de-risking a startup.
- Building and launching a product is identified as the second most effective strategy for de-risking a startup.
- Pursuing activities beyond customer conversations and product development may constitute a suboptimal de-risking strategy.