Debunking 5 Pieces of Horrible Startup Advice
Just because a best-selling startup playbook tells you to do something doesn’t make it right, relevant, or the optimal option.
Startups are kind of like microwaves: While generic cooking instructions might work for the majority of average-watted microwaves, there will always be a handful of undercooked eggs, as well as some burnt to a charcoal crisp. For those who don’t put eggs in the microwave, don’t knock it until you try it. Along those lines, I’d also suggest you refrain from knocking the below strategies before trying them, as I’m going to debunk five common startup myths with concrete proof that alternative strategies can lead to even better outcomes.
1. Hurry up
If you’ve ever heard the phrase “fail fast, fail often”, it plays into the time-crunched fear-mongering idea that launching a business is a now-or-never pursuit. In fact, there are countless (esteemed and successful) startup advisors and investors (some of whom are former founders and CEOs) who echo this sentiment.
However, we have to take a step back and ask why they would rush founders into a half-baked launch or jerry-rigged venture. I’ve heard some of these investors and advisors go so far as to say that if you can’t launch in two weeks, you’ll never be successful.
Here’s where I call utter B.S. — with the concrete results and countless anecdotes and examples to back up my opposing viewpoint. You see, the issue with “fail fast, fail often” is that too many wantrepreneurs take this advice literally and as gospel, thanks to the impressive reputations and follower counts of those who peddle it. The truth, however, is that you’ll be hard-pressed to find a positive or direct correlation between the time from idea to launch and the ultimate success or total profit of the venture.
Why? That’s likely because those studies would be pointless, as they’d measure an arbitrary time to launch against another arbitrary marker of eventual success. Is success selling a company? Making 7 figures in profit? Breaking even in three months? Your guess is as good as mine.
That said, that’s not the main reason I take issue with the “fail fast, fail often”…
