Back when I was a seed VC I was fond of telling folks that they didn’t have a company yet. I wasn’t trying to be mean. I was trying to instill ruthless focus. Seed rounds are small and runway is measured in iteration cycles. How quickly can you iterate till you have product / market fit?
In my books there are three stages to building a startup. And only the last one has anything do with a company.
Stage 1: Project
You have an idea. You research to test and validate hypotheses and find a pain point in the market. You start building wireframes and mockups. You maybe start collaborating with someone. At this stage you have a project.
Stage 2: Product Read More