https://www.youtube.com/watch?v=0LNQxT9LvM0. Make something a lot of people want. Startup Phases: idea, prototype, launch, traction, monetization, growth. Top early challenges at a startup:. Finding product market fit. Hiring and building a world-class team. Once you find product market fit start scaling the team. Making money (distant 3rd). It is a lot harder to build a product that a lot of people really really want than it is to figure out how to make money from that product. Later, how to build an organization that scalably and repeatedly launches great products. The best companies will create their own market. Find a hidden need. Everyone is going to tell you your idea is stupid. If it's obvious, everyone would do it. What are you a substitute for, what need are you serving better? What job are you being hired for? What are people trying to do? Where are you getting pulled? Where are people hacking the thing you got and using it in a way you didn't intend? Double down on that. Building a remarkable product. Have a great idea. Talk to customers. ??? Talk to customers. Develop a market thesis. Listen to their problems NOT their solutions. Rapid prototyping & user testing. Don't worry about scaling or monetization. Build the solution to their problems. Test the solution with them. Make sure you are talking to your target customers (be open to changing your view on who those are). Don't overthink it. Most helpful tools:. Customer Interviews (5-10). UX testing sessions (3-5). Get someone to use your app in front of you. Encourage them to give open and honest feedback. Ask them to perform a task (you are not allowed to touch the phone). DO NOT SAY OR DO ANYTHING. Watch in extreme agony as they struggle to figure it out. Did it work? If false, GOTO 1. By the time you've reached this step, you've likely looped ~27 times. PROFIT!!! Minimum Remarkable Product. “Launch when your product is better than what's out there“ - Paul Buchheit. First priority is what gets you to your next milestone. Don’t write articles, don’t go to meet ups, don’t read the news. What is your biggest unknown that I need to learn? You should be involved in everything important and know all there is to know about your customers/product/market/channels. Once you've found product-market fit, scale aggressively. Be young and stupid. Take calculated risks. Be an optimist. Never give up. Be determined and know this is something people need and continue to work on it. Being vertical is generally good advice, but if you are building a platform go horizontal first, then customize the vertical. Be focused on your customers, not your competitors. Second-time watching. Create a new market. Find a hidden need. A lot of people don't realize the problem exists. Everyone will tell you it is stupid. What are you a substitute for? What need are you serving better? What job are you being hired for? Jobs to be done framework and book. What are people hacking the thing you got and using it in a way you didn't intend? Double down on that. What is the job they are trying to get done and how can you get it done faster or better. Listen to their problems. Not their solutions. What's the biggest unknown that I have and how do you go about figuring that out?