Startup Advice That Will Make You FAIL

The internet is packed with advice and tips for startups, from how much content you should be producing to how to figure out your ideal customer profile. However, there are some “hacks” that you should avoid, no matter what! Let’s check out three pervasive startup myths and what you should do instead.

Jump on Every Source Of Revenue

Bad advice: As an early-stage business, you should grab every possible source of revenue that comes your way.

This is common advice—and it’s bad. This is revenue FOMO: The fear of missing out on any income source. It leads to unfocused, untargeted marketing, and demonstrates a lack of understanding about your audience. It’s a growth killer.

Instead, build your brand, research your ideal target audience, and focus your efforts on leads that will not only convert, but bring consistent, sustainable growth.

Fake It Until You Make It

Bad advice: Act like a bigger business and bigger investments will come your way.

Investors are financially savvy individuals or groups that know when they’re being hoodwinked. Venture capital firms receive in excess of 1000 proposals each year, so they know what’s real and what’s not. Don’t try and plump your figures, don’t pretend you know more than you do about your niche or industry, and definitely don’t fabricate successes that don’t exist just to get attention.

Focus on what you know: create content on topics you’re passionate about to position yourself as an authority in your field. Be personable and honest with your leads. Create an amazing pitch deck for investors that tells your story as a company, innovator, or business leader. When you have a great brand and product/service, you don’t need to fake anything.

Keep Waiting For The Perfect Moment

Bad advice: Launching your tech offering at the wrong time will make your business fail.

This is bad advice on so many levels. There is no such thing as the perfect moment when it comes to starting a business, launching a product, or seeking investment. There will always be market fluctuations, obstacles, and even internal organizational issues that you have to deal with. Be bold, do your research, and get moving! Sitting on your great idea means it doesn’t benefit anyone.

Final Word

22% of startups fail due to problems with their marketing strategy. If you want startup advice that actually promotes growth and success, book a 15-minute introductory call with the team at Arch Collective. We can talk to you about brand messaging, driving more revenue, and getting your marketing strategy on track.

Take control of your client acquisition strategy with our brand messaging framework—drive more revenue in just 10 days. Sign up here.