What mistakes do wantrepeneurs make?

(this post is a feed post from my comments on reddit)


Thinking their idea is original and unique
Thinking everyone must be desperate for their idea
Over valuing their idea
Thinking that they can find others to build their idea for next to no money or equity
Thinking others can’t copy their idea
Thinking that ppl will pay lots
Thinking they can just pivot
Thinking they’ll raise millions for their idea without any data or traction
Thinking that once they get the money they can spend their way to traction
Thinking that the goal is to raise money not develop a viable business
Thinking they can build complex product in days without technical expertise
Thinking talent (especially dev talent) is cheap and easily replaceable
Promising the world on a shoestring budget to that first big name client without considering viability
Being oblivious to payment terms and cashflow
I could go on…

But basically lots of dunning Kruger, lots of hubris, lots of “hustle harder, startup” koolaid

Totally forgetting that ultimately VC is a financial asset class and this is all about making money and making a return on investment

What mistakes do wantrepeneurs make?
byu/LavonnaTeti inEntrepreneur

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