At the initiation of a startup, we are dazzled with the lure of big money buyouts, or creating a service that gives us license to print money. Experience has thought me to focus on two things:
- Making a profit
- Keeping your expenses down
When you focus on these two things, the conversations you have (either with yourself or a team) are very different. You stop worrying about stuff like Facebook integration, meaning you get to market faster. You consistently ask yourself “Do my customers want this and are they willing to pay more for it?” whilst stop asking yourself things like “How will this scale when we reach over ten thousand users?”.
Just like learning to crawl before being able to walk, you’ve got to learn how to make a single dollar before you can make a thousand. And it goes without saying that if you can’t make a thousand dollars, then chances are you probably can’t make a million.