StartUp Founders: The First Milestone Is Not The Pitch Deck
When developing a new venture, startup founders often jump straight to creating a pitch deck. However, embracing chaos and exploring various solutions first can yield better outcomes.
A common misconception among founders is the belief that once they have identified a solution to a problem, the next step is to create a pitch deck. While it is true that pitch decks play a significant role in conveying your idea to potential investors, focusing solely on clarity at this stage might not be the most effective strategy. Instead, I would argue that embracing chaos and exploring various iterations of your solution can yield better results.
Rather than narrowing down your focus too soon, consider the possibility that your initial solution might not be the best one. It is essential to validate both the problem and the solution you are proposing. To do this, challenge your assumptions and explore alternative approaches. Go vertical, horizontal, examine different industries, consider potential partners, and delve into user journeys and personas.
By examining your problem statement from multiple chaotic angles, you can generate a wealth of ideas, which can ultimately lead to the most effective solution. Jeff Bezos, the founder of Amazon, once remarked, “If you double the number of experiments you do per year, you’re going to double your inventiveness.” This sentiment highlights the importance of experimentation and iteration in the pursuit of groundbreaking solutions.
So, as a startup founder, remember to embrace chaos rather than seeking immediate clarity. Engaging in a thorough exploration of your problem and potential solutions will equip you with the knowledge and insight necessary to develop a truly innovative and effective product or service.