Common Founder Issue
Just a few years ago I had an epiphany regarding how the very early participants in a startup - particularly founders and initial “friends and family” investors - should feel about the likelihood of success of a new venture. Prior to this moment, I considered every phase to be pretty much the same as a startup grew. So, for example, the first dollar from your rich uncle is a “business arrangement” just like the first venture round from a fancy VC. I now think very differently about this topic.

Founders of new ideas and their initial investors should realize that the initial time and resources into a new startup are simply to prove or disprove a business model. The very fact that something is a startup means that the business model isn’t proven. In this podcast a repeat-founder discusses his thoughts on this topic.

Context
At this point in the podcast/video, Mike is discussing the product-market fit differences between a previous start and his current one.

Get Right To The Point
To get right to the point go to minute 30:01 of this podcast/video.

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Thanks to these folks for helping us all learn faster
Andrew Warner (@AndrewWarner) of Mixergy (@Mixergy)
Mike Townsend (@mikettownsend) of HomeHero (@HomeHero)
Toptal (@toptalllc)
HostGator (@HostGator)

Please let me and others know what you think about this topic
Email me privately at dave@switchyards.com or let's discuss publicly at @davempayne.