BS-Startup-Advice

BS-Startup-Advice

"Startups are risky", "Follow your passion", "Ideas don't matter" A lot of advice is nonsense. Startups are sexy & angel investing is cool. That’s why there are many tourists confusing founders with BS advice. Let's debunk these myths with first-hand experience from founder & angel friends.

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You need a business co-founder | #8

You need a business co-founder | #8

It's not about having a "business co-founder" – it's about a strong commercial mindset & de-risking with the right team.

Felix W. Schmitt
Felix W. Schmitt
Don't waste your time on a financial model | #7

Don't waste your time on a financial model | #7

Against the opinion of some well-known investors I argue that there is merit in creating a financial model as a pre-seed founder.

Felix W. Schmitt
Felix W. Schmitt
Domain experience is key | #6

Domain experience is key | #6

Contrary to the popular belief, most founders don’t have any directly relevant work experience in the industry they are disrupting.

Felix W. Schmitt
Felix W. Schmitt
You have to be passionate | #5

You have to be passionate | #5

No doubt that being passionate about your domain or idea is helpful. Yet, the role of passion feels exaggerated and oversimplified.

Felix W. Schmitt
Felix W. Schmitt
Ideas don't matter | #4

Ideas don't matter | #4

It's absurd how frequently you hear that there is no value in the startup idea. Let's debunk this – ideas are the essence.

Felix W. Schmitt
Felix W. Schmitt
Build your MVP asap | #3

Build your MVP asap | #3

It's not only a mistake to start building too late, it can also be a mistake building too early.

Felix W. Schmitt
Felix W. Schmitt
Follow the AI hype | #2

Follow the AI hype | #2

Fundraising is very hard. So if it’s easier to raise in 2023 as an AI-Startup should I not rethink my strategy, product roadmap, domain choice and hiring plans?

Felix W. Schmitt
Felix W. Schmitt
Startups are risky | #1

Startups are risky | #1

While the company risk is high, the career risk is low. Let's unpack this.

Felix W. Schmitt
Felix W. Schmitt