A list of top ten fantasies that hurts startup entrepreneurs
Updated: May 31, 2020
The following is a list of fantasies that hurts. Either stops a person from starting, or prevent someone from reaching their full potentials.
These fantasies are never openly discussed in books and blogs. Most people who went on to do startups realize these, but few people come back to tell or warn. In fact, most new starters would not believe any of the things that I said.
Most professionals VCs don't like preaching to first time entrepreneurs. They are stubborn. It is mission impossible. People don't know and don't ask, and yet they think they are the exception. By the time entrepreneurs fully agree they cann't go back and correct earlier mistakes anymore.
The fantasy about new (what is wrong with it?)
The fantasy about chance
The fantasy about providing a solution
The fantasy about solving a problem
The fantasy about easy
The fantasy about ideas
The fantasy about friends in business
The fantasy about a startup theater
The fantasy about knowledge
The fantasy about changing the world
Let me dive into the responses.
One bonus fantasy:
"I will make a product and get the tech company IPO"
This fantasy is so 1990s now. Today, this ideal situation has turned into a nightmarish fantasy. There are a number of reasons. (1) A company with a single product can not fend itself in a hostile world; (2) there will be tremendous amount of competition and copycatting all around the world. It is a good idea to make a product and offer it to the market, but don't believe in the fantasy situation. If you do, you will be supremely disappointed.