Is there one right way to build a successful startup?
Thereās certainly a lot of advice out there on the best way to do itā¦
ā³ Iām often one of those folks giving advice š
And though I do have strong opinions on what increases the likelihood of success for early stage founders...
š There is more than one way to find Product-Market Fit.
I attribute this to founders having their own unique approach to building products and serving markets.
In other words, founders have different...
š North Stars š
These are the starting point orientations for finding product-market fit.
I've shown 8 variations of North Stars with different sequences of questions (See image)...
And I think they fall into 2 types of startup journeys:
1ļøā£ Those who have found a market problem
ā³ And are seeking the right solution. š
2ļøā£ Those who have built a cool solution
ā³ And are seeking a market to buy it. šø
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Iāve highlighted some well known startup successes that I believe fit into a specific journey
(Canva,Ā Procore Technologie,Ā LoomĀ ,Ā CalendlyĀ ,Ā UberĀ ,Ā OpenAIĀ ,Ā Jasper,Ā Tesla)
But keep in mind, this is an oversimplification.
Anyone who has ever worked on a startup knows that this journey is anything but linear.
And itās very likely that your north star will change as you make progress.
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Iād love to hear from fellow foundersā¦
āā What North Star are you following?
Ben Wilentz
Founder,Ā Stealth Startup