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Ask HN: How to found a company as a single founder?

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Re: Ask HN: How to found a company as a single founder?

#62
post #20
post #2

Serial single founder here. Start building and start selling. If you can’t deliver a product to a paying customer solo then you’re not cut out to be a sole founder.

I agree with this except switch the order. First, start selling. Then start building. It is so easy to waste so much time building something nobody wants, and you won't know until it's too late if you try to sell it afterward. Selling first will inform your decisions on what to build.

I disagree, you should know enough about what field in your in so that you have some credibility.

Re: Ask HN: How to found a company as a single founder?

#63
post #33
post #20

Earlier quoted context omitted.

I agree with this except switch the order. First, start selling. Then start building. It is so easy to waste so much time building something nobody wants, and you won't know until it's too late if you try to sell it afterward. Selling first will inform your decisions on what to build.

The advice makes sense, but isnt it a bit of chicken-and-egg? How do you sell something you haven't built? (or is it really .. build a little, or enough to illustrate; then 'sell' to validate and seek market fit; and then finally truly build?)

It's essentially the build a little/sell/build a lot cycle you mentioned, but you want to minimize the first step as much as possible. As tech folks, it's easy for us to overestimate the importance of technology to our end customers. They're not buying code, they're buying a solution that will make their life easier/better.

"Sales" is a long term process, but the first meeting usually starts with understanding the customer's problem. If you build something before that (and demo it at the beginning of the meeting), you can bias the process with your assumptions. Instead, if you try to get inside the mind of your customer, you can get closer to the correct solution.

For a lot of those first sales meetings, you don't necessarily need technology to demo. Instead of showing/telling your customer, you're starting by listening. Then, you can build a small demo of something interesting before the next meeting (often, this is more to keep the conversation going and explore new ideas than to immediately solve the customer's entire problem).

I agree with the other comments mentioning an initial (days/weeks long) MVP build cycle. However, over the past few years, I've found it helpful to adopt this mindset: "my idea for the best possible product is at least slightly wrong, and the more code I write the harder it is to fix". There's a psychological concept of functional fixedness, where you view an object only as its traditional use. I think a similar concept exists in technology. Particularly as a founders-only company, the technology you build has some inertia, and impacts your mental models of the problem you are trying to solve. The more code you write, the higher the "cost" of changing (both in your mental models, and the technology itself).

All this really means is you're right about the build a little/sell/build more cycle - but what you build is less important than what the customer says. The first build is often just a means to start an interesting conversation about the customer's true problem, and you might need less technology for that than you initially assume.

Re: Ask HN: How to found a company as a single founder?

#64
post #26

It doesn't matter if you have a strong idea if no-one is willing to pay for it. Get some sales commitments first, even some "soft" commitments will go a long way. Will you even be able to build the company at the rates people are willing to pay?

Good advice. I met a guy who was selling screenshots of a product to ensure it did what people expected. He then got a team and built it and recently sold his company for some good dollars so this isn't as weird advice as it sounds!

Also be careful about using a single customer to "co-design" your product since it can affect appeal to other customers.

Re: Ask HN: How to found a company as a single founder?

#65
Since you got a lot of good advice already, I would like to add following.

Hire or make deals with, people who can speed things up, developers, designers, sales people. You can't do everything by yourself. Find people you can talk to, that is super important.

Often people trick themselves into building elaborate product first, but also there is a case where you genuinely have to make something before you can sell it.

Re: Ask HN: How to found a company as a single founder?

#66
post #25
post #11

Earlier quoted context omitted.

> First, don't. No one got anywhere by doing nothing. I would think its better to try and fail.

But lots of people got nowhere from doing the WRONG thing. Focusing on finding a cofounder instead of on furthering the product could definitely be one of those mistakes.

The ultimate question of business is about deciding between alternatives and asking which is best for the company:

1) If I carry on with the product, can I keep quality and speed to improve sales significantly or will I quickly hit a wall which will cause my customers to leave? 2) If I find a good founder instead, will they help me with stuff I am not good at and give me the space to keep quality and speed or is it a distraction?

Re: Ask HN: How to found a company as a single founder?

#67

It's still too early to declare my new project a success but compared to several failures, it seems like I've finally cracked the code. There are a number of things I am doing differently this time, but the most significant seems to be that I am now using a coach. This would have made me laugh earlier but it's been great value to me. As a single founder, it can be very hard to stick to commitments and keep a clear vi…

Is your coach open to more clients?

Re: Ask HN: How to found a company as a single founder?

#70
I am far from full-flight yet (some of my side projects have made a few grand) but here are some things I've learned in addition to the advice already given:

* Only solve a problem you have experienced - this makes ideation and validation much easier (though its still essential to get unbiased opinions on your MVP)

* You'll need something to attract people initially to get feedback and validate - but don't dedicate more than 2-3 weeks of coding to your beta.

* Product Hunt allow you to post twice - once for beta and then for V1. Your initial PH post should give you more than enough test users to get good feedback. Don't bother with any other marketing or coding until you have a validated product.

* When it comes to feedback, schedule beta testers in for calls before giving them access to the product; always opt for calls over email

* Technology doesn't matter, as others have said your selling a solution, not code. Opt for whatever language or framework you will be fastest to build in.

* Once you have a validated product you're ready to sell, feel free to experiment with different marketing channels but quickly determine what the most effective for your product are (in terms of volume of leads and ROI); dump the rest and double down on these. The internet of awash with cool marketing tricks but the reality is that most companies get 80% of their leads from 1 or 2 refined, targeted actions.

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