Dane Maxwell of the Foundation says you must face these three obstacles in order to start and run a successful business.
Dane Maxwell is the founder of The Foundation, he teaches average people how to build software businesses with no ideas, no coding experience and no money. His program helps entrepreneurs to start tech businesses from scratch.
I recently caught up with Dane and asked him to share some of the obstacles entrepreneurs must face in order to run successful businesses
This is what he had to say:
Q: What are the top 3 obstacles entrepreneurs must overcome in order to become successful, and what’s your advice on the best way to do it?
#1 – Focusing on product, instead of problem
At the Foundation, building the product is phase four in our process for starting a company. Most entrepreneurs start with product. We start with pain. Phase one (three steps before building the product) is all about understanding the pain. The most painful thing an Entrepreneur can experience is failure in his product or idea. It sucks. But the thing is, entrepreneurs create that pain by lacking flexibility to pivot in the product they are creating. If you focus on product before problem you run the risk of building something nobody wants.
Focus on pain. Focus on problem. Let the product create itself.
#2 – Waiting for an idea to get started.
If you’re looking for an idea, switch your focus to looking at pain. Many of the most lucrative ideas come from finding pain, not dreaming up ideas. Sure, you’ll have your Facebooks and twitters, but the only repeatable pattern we’ve found to ensure the highest chance of success is to look at pain instead of looking for ideas.
“What is the most important activity in your business?”
“Do you experience any pain with that activity?”
“What would you envision being a good solution to solve that pain?”
Are three questions that can unlock a gold mine of ideas for you.
#3 – Waiting for money to get started.
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