Healstack, the company, is 1 year old. š° š„³
There are plently of lessons we picked up on our #startup journey, but here are key 12 things we learned, one for each month we have kept the lights on to make our vision happen:
There are plently of lessons we picked up on our #startup journey, but here are key 12 things we learned, one for each month we have kept the lights on to make our vision happen:
Lesson #1:
Not everyone starts a startup to solve a real problem, some do it just to make money through an exit. Decide which type of founder you will be as it will affect your strategy.
Not everyone starts a startup to solve a real problem, some do it just to make money through an exit. Decide which type of founder you will be as it will affect your strategy.
Lesson #2:
Great idea & validation is not enough. If you are a woman, POC or if you come from non clout background, your pre-seed chances are EXTREMELY low. Focus on getting money through different venues or make your product easy to sell during ideation process already.
Great idea & validation is not enough. If you are a woman, POC or if you come from non clout background, your pre-seed chances are EXTREMELY low. Focus on getting money through different venues or make your product easy to sell during ideation process already.
Lesson #3:
Donāt worry about responding to investors or waste time when they reach out. Most do web scraping for new ventures and will keep you on radar regardless of initial contact if you later ruffle up some dust. Focus on building.
Donāt worry about responding to investors or waste time when they reach out. Most do web scraping for new ventures and will keep you on radar regardless of initial contact if you later ruffle up some dust. Focus on building.
Lesson #4:
Everyone builds differently - some fast, some slow. Donāt stress about it to the point it makes your product journey crappy. Find a balance based on you. We hurried, then we slowed down as we decided we value quality over speed.
Everyone builds differently - some fast, some slow. Donāt stress about it to the point it makes your product journey crappy. Find a balance based on you. We hurried, then we slowed down as we decided we value quality over speed.
Lesson #5:
There are many incubators & accelerators out there. Not all of them are great and some that are you might end up with a mismatched mentor. React immediately to find advisors that do inspire you & move your product further.
There are many incubators & accelerators out there. Not all of them are great and some that are you might end up with a mismatched mentor. React immediately to find advisors that do inspire you & move your product further.
Lesson #6:
Speak to your potential customers often. Even if you are not live. Read constantly what is happening with your target group and observe changes.
Speak to your potential customers often. Even if you are not live. Read constantly what is happening with your target group and observe changes.
Lesson #7:
Learn book-keeping enough to know where money is coming from and going. Get a basic accountant to help you with initial setups and ease you into the system. Donāt be cheap where you need help & where the risk to mess up is high.
Learn book-keeping enough to know where money is coming from and going. Get a basic accountant to help you with initial setups and ease you into the system. Donāt be cheap where you need help & where the risk to mess up is high.
Lesson #8:
Meet new people & utilise existing networks. Nest yourself around creators and people who are on a similar journey. If you donāt have easy access to people - internet is always so useful.
Meet new people & utilise existing networks. Nest yourself around creators and people who are on a similar journey. If you donāt have easy access to people - internet is always so useful.
Lesson #9:
Anxiety & depression is a core part of building a #startup, especially if you are not funded and doing something with limited support.
Feeling like a failure becomes a new topic in your brain, but self-care and focus on vision helps power through.
Anxiety & depression is a core part of building a #startup, especially if you are not funded and doing something with limited support.
Feeling like a failure becomes a new topic in your brain, but self-care and focus on vision helps power through.
Lesson #10:
Simplify everything that you can.
Take inspiration from others and donāt always re-invent the wheel as there is no need. Find tools that make your life easier & invest some time on setting up processes.
Simplify everything that you can.
Take inspiration from others and donāt always re-invent the wheel as there is no need. Find tools that make your life easier & invest some time on setting up processes.
Lesson #11:
Nobody gives a damn now, but most do once you get money, clout or some traction. Donāt worry on chasing people to be seen, focus on your customers & improving their journey. Once money starts rolling in, so do external partnerships, interviews, offers etc.
Nobody gives a damn now, but most do once you get money, clout or some traction. Donāt worry on chasing people to be seen, focus on your customers & improving their journey. Once money starts rolling in, so do external partnerships, interviews, offers etc.
Lesson #12:
Truly thank those who believed in you when you were at your lowest in the #startup journey. Those who saw what your solution can do for the world and not only for the pocket. Find validation from pure places, donāt depend on the āthe startup machineā to validate you.
Truly thank those who believed in you when you were at your lowest in the #startup journey. Those who saw what your solution can do for the world and not only for the pocket. Find validation from pure places, donāt depend on the āthe startup machineā to validate you.
2019 was all about birthing an idea, starting a company and figuring out what the hell this #startup life means when you are a founder. 2020 will give new lessons & challenges, especially after we go live with @healstack & honestly, I canāt wait š š 
