Tips for Avoiding Fatal Startup Mistakes
Even among the most seasoned startup veterans, mistakes tend to happen.
Created by veteran HSBC strategy, business and technology senior executive, Pascal Nizri, the platform to be released out of private beta will become the hub of our digital lives, organizing everything with a single swipe in a fully customizable centralized profile.
Maybe they waited too long to launch their product, hired the wrong people, or perhaps they just didn’t adapt to the needs of their customers.
While mistakes aren’t necessarily a bad thing – as they often lead to experience gained and personal growth – there are some that can be easily avoided.
We spoke to a number of different startup founders to find out what the most common mistakes were that they made when launching their business ventures, and most importantly, what advice they can give to avoid making them in the first place.
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Pascal Nizri : Honor Customer Feedback
“I would say that often, startups make the mistake of building a product which is too focused on the technology and what the team wants, as opposed to what the customer needs and the issues the product intends to solve.
There must be a fine balance between vision and iteration. One way to do this is to release your product and iterate it based on customers feedback, as opposed to refining it indefinitely before the launch, which bankrupts some startups. At Chekk, we have released our initial App for iPhone in private beta first, and we will release an official version in the AppStore which will be optimized based on customers feedback and their use in real life.”