What should all first-time startup founders know before they start their business? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Answer by TJ Nahigian, Co-founder and Managing Partner at Base10 Partners, on Quora:

  • It's going to be really hard.
  • You will feel like you are failing multiple times per week.
  • You likely will have to sacrifice many things in your life for your startup to have a chance at being successful.
  • Initially finding co-founders or people to work on your project with you is the most important thing.
  • Then finding product market fit.
  • Then repeatable go to market strategy.
  • Then positive unit economics.
  • If you can do all of these things you almost guaranteed will have a positive outcome.
  • Then there are 10+ more things that determine how big of an outcome you will have for shareholders and overall, but that doesn't matter unless you can do the previous 3 things.

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Published on: Sep 27, 2019