Crys T. T. Nguyen
Founder, Creative Director • Essenture
The 1 problem why 99% startups die before birth
This originated from my short answer to a question on Quora (http://qr.ae/TMqjWO):
What tips could set one up for creating a successful internet based business?
Sell first, build later.
Supply and demand. The order is: validate demand first, create supply later.
Many startups, including my own in the past, are born just for the sake of creating supply, without validating demand. They’d go full out on creating a product/service, only then figure out if there’s demand and how to sell it.
In reality, it’s supposed to be the other way around. Demand first, supply second. Validate your “supply idea” using an MVP (Minimum Viable Product) first. Only actually create that supply when you’re sure there’s sufficient demand. Your MVP can be as simple as a landing page describing what problem you’re trying to solve and how exactly you’re gonna solve it. Put up an email subscription form and share that MVP (reddit, producthunt, etc., depending on your niche), see if the world actually wants it.
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About @crysttn: I'm an Agency Founder and Creative Director, building brands and creative teams. Join my conversations about #Entrepreneurship, #Startup, #GrowthHacking and more, on Twitter. Oh, and I blog every so often.
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