I recently saw data from Y Combinator comparing what founders consider their biggest obstacle, then contrasting that with a list of the things proven to grow companies fast (what you really need).
To be clear: high growth is all that matters when it comes to proving product-market fit. Nothing says “people need our stuff” like hoards falling all over themselves to obtain your product or service.
What you think holds you back:
- Startup Funding (from investors)
- Bug fix (make it work better)
- Design (make it easier to use and pretty)
What actually holds you back:
- Launch (get product to market)
- Design (make it easy to use and pretty)
- Pricing (create consumer surplus)
Remember: high growth covers a multitude of sins.
- Short on cash? Sell more.
- Product buggy? Ship fixes now.
Failory did a study that analyzed startup data to determine why some fail and some succeed. The four main reasons for failure were:
1.Incompetence – lack of planning
2.Inexperience (product) – lack of product know-how
3.Inexperience (management) – lack of managerial skills
4.Personal problems – you’re a hot mess
Note that three of these categories stem from a false premise many founders fall into — trusting belief over evidence.
We often see founders fail to recognize they fall into one of these categories.Successful founders, however, understand they likely fall into one or more — and then actively fill the gaps by building diverse, united teams with shared goals and vision.
It takes humility to assume you don’t know everything, and build a team that truly can succeed.
Humility is what you really need.
- It helps you launch faster — because you know the MVP doesn’t have to be perfect.
- It helps improve the product — because you’re willing to listen to users.
- It helps you build the right team — because you’ll value skills over ego, and lead with clarity.
In short:
Develop your company with humility, so you can grow with confidence.
