Flawed Beliefs that Many Entrepreneurs Have

  1. More features = More customers <as opposed to> Right features = Most customers
  2. Startups are small versions of large companies with various departments <as opposed to> Startups are an integrated team of people doing customer development with various skill set for a common goal.
  3. Startups need comprehensive plans and projections <as opposed to> Startups are institutions or bodies that iterate quickest through ideas and testing them. (sorta like a science lab where you identify problems, come out with hypothesis and test them through experimentation and reacting according to the results)
  4. Startups need to do intense marketing <as opposed to> Startups need to focus on solving the right problem by coming up with the right solution.

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