A few days ago I spoke to a friend I haven't seen for a few years. She wants to found a tech company and looks into different categories, like well-being, learning, and food. She wanted me to suggest which category has the biggest opportunity. Each category she looks in, she finds more questions than answers. Also, people from each category say that the category is hard.
I said that, of course, it is hard to start and create something new in any category. It is hard because you always have more questions than answers initially, and you need to find those answers somehow. Many answers are possible to find only by trying and failing, not by researching or thinking. And failing is hard, yet necessary for success.
There is no self-evident & clear new biggest opportunity in any category. Instead of looking for that, just pick the idea/concept, you believe the most and start doing it without knowing everything in advance.
And first thing in doing is to find your first believers who will be your future partners. You can find them easier if you have committed yourself to a specific idea. In that case, speak to people and invite them to join your journey and see what will happen.
Good luck with founding your new company!
Photo: I made it in Italy a few weeks ago.
P.S. This is my first insight posted from Qoorio web (not app).
Many early-stage founders, impressed by my previous fundraising success, were asking my advice on how to build a deck to replicate my success. I had one piece of advice for them.
Don’t build a deck. Build a business.
When choosing your next company, first determine which stage (pre-product fit, post-product fit, growth, or scale) is the best match. Usually, only 1 or 2 stages make sense for any given job search.
A great post by Nikhyl Singhal about tech company stages, which are:
1. Pre-product fit, aka “drunken walk.”
2. Post-product fit.
Read more in the link below and learn how the work culture differs in each of the states. I have been in stages 1, 2, 3 and fully agree with the author.
And if you work in tech, which stage are you in?
Full article: https://theskip.substack.com/p/stage-of-company-not-name-of-company