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Why do startups fail? We often get answers like “poor management” or “money ran out.” The real reason startups fail is founders build a product no one wants. Moreover, they find a solution to a problem no one has.
There’s a fine line between a nuisance and a problem. The difference is people will pay for a solution to a problem; they will put up with a nuisance.
Before you build your company around a supposed solution, validate your problem through research and customer discovery. Then, learn your ideal customer’s current reality, and develop a solution they can’t live without.
– Kim Lane, CEO of The Conductor