One of the major mistakes I see tech founders making is assuming their startup is well known by their primary target just because tech enthusiasts keep talking about them. Realities on the streets say otherwise.
From day one, we made it clear to ourselves that we do not want to run a business that is majorly popular about tech enthusiasts even though we are using technology to solve a traditional problem. We simply want to run a profitable business. Period. Customer acquisition, partnerships (with more institutions), revenue etc. These are the words that dominate our discussions each time we meet. None of these is judged by how many technology enthusiasts know about our business. This shapes everything we do, our strategies, who we talk to, our partnerships, etc.
So, instead of dinning daily with people who, most times, at best fool you with cool words about the greatness of your product, we will rather spend that time dinning with people who are key in driving up our numbers (which bottles down to money in the bank).
We don’t speak grammar (disruption blah blah blah). Our success is primarily judged by how many students use our platform to gain admission and how much money flows in. Every other thing is irrelevant to us at this stage.
The problem with being so popular among tech people is that it sometimes fools you into thinking your real prospects are actually as crazy about your products/services the same way the tech enthusiasts are. The best way to know is to take a look at your bank statement, your analytics dashboard (regular users section). If both say otherwise, then, it’s time to start focusing on what really matters.
It is every founder’s right to decide what they want – a popular poor business or a profitable business. Great if you have both.