Five Kinds of Startup: Product

Invention, Construction, Sales, Delivery, Support
click an icon above to see more posts on that topic

Go To Comments
So you've got it. You've nailed it. You've discovered the missing link that's going to change the game, the world, and millions of lives.

OK, first thing, someone has probably already done it. But don't let that stop you.

There are a million kinds of startups out there and a million more that haven't made their way off paper yet. Each one is unique, sure, but deep down, there really aren't any completely new ideas. The trick to startup is to get as close to a new idea as possible and then execute on that idea faster and better than anyone else.

There are different ways to accomplish that, and the differences are rooted in what kind of startup you've started.

In this series, I'll spend a lot of time talking about the startup lifecycle. What that means is not so much the journey from idea to reality (see Five Stages) or from garage to IPO (see Five Funding Sources) -- it's really more about the journey from the birth of whatever it is you're offering until that offering is a market success.

While all businesses are unique, there are really only a few kinds of startup. How these companies operate, grow, and succeed will depend on what kind they are. Thus, a lot of the decisions you will make and paths you will take will depend on what kind of startup you're running.

Product startups are what we think of when we think of traditional garage-based, mad-inventor startups. If you're building something that you sell and deliver, you're a product startup. The right ones usher in sweeping changes in the way we do things -- like the smartphone, the search engine, and the electric car.

Keep in mind, however, that the iPhone was not the first smartphone, Google was not the first search engine, and the Tesla was not the first electric car. Far from it. I'll say it again, there aren't many new ideas out there, but the three products I just mentioned were done faster and better, admittedly with a little right-place-at-the-right-time magic for good measure.

Entrepreneurs make some classic mistakes along the product startup lifecycle. There are a number of things you must do at each step that, while doing them won't necessarily guarantee success, they will at least reduce the risk of failure.

Let's talk about those steps.


To Read The Rest, Join Teaching Startup Now for Free


Sign up here to get a free Teaching Startup account and get instant access to this and every article on the site.

INTERACT with other entrepreneurs.

LEARN from other entrepreneurs.

THE STARTUP SHOW to keep you motivated.

Get started by entering your email address. You'll get an email which will guide you through the rest.

Email Address
Caveat: By joining, you'll opt-in to our weekly email update. Cancel at any time.

YOU MIGHT ALSO LIKE...

Join Teaching Startup and we'll customize a lesson plan for you. Follow Teaching Startup and you'll get a heads up whenever we post new content. If neither of those appeal to you, here's some stuff we're guessing you might learn from.

If VCs Want To Survive, They'll Need To Evolve
Send me your pitch deck is very quickly being replaced by Send me your dashboard. And it's going to say a lot more about how fundable your business is.

How To Find a Problem For Your Solution
In Episode 6.7 of The Startup Show, we talk to NeuroPlus founder Jake Stauch about how his amazing brainwave tech struggled to take off until he found the right problem for his solution.

Tatiana Battles the Big Boys
In Episode 6.6 of The Startup Show, we discuss the challenges of taking on entrenched players in retail with Mati Energy founder and CEO Tatiana Birgisson.

Entrepreneur Isn't a Job
In Episode 6.5 of The Startup Show, we talk about how people who aren't entrepreneurs rarely understand what entrepreneurs do, let alone respect what we do. But it's also rare that they love what they do as much as we do.

How to Start a Company Outside of Silicon Valley
In Episode 6.4 of The Startup Show, we're kind of done with all the thinkpieces coming down from on high pleading that every startup ecosystem that isn't Silicon Valley should stop trying to be like Silicon Valley.




Pick a Topic
Get Educated


Teaching Startup has lessons -- written, video, and audio -- covering 25 important foundational areas of startup: Stages, Roles, Kinds, Funding, and Reasons.

Each lesson on the site covers at least one and up to five of these areas. Pick and choose what you need to know and how you want to learn it.

Click here. Choose a topic. Read, watch, listen, and learn