Startup Tip #3: You Don’t Know What You Don’t Know

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Startup Tip #3

Face it. In start-up you are doing new things. Many of which you’ve never done before. You can’t possibly know what you don’t know, especially if you’ve never travelled the road before.Blind spots. False Assumptions. Denial. Ignorance. Inflexibility and a lack of awareness can kill a startup. Don’t let it kill yours.

Ventures are built on the foundation of business assumptions. Business assumptions are developed from the list of specific questions you have about every area of your venture. Questions that are vetted out, answered, ruminated over and decided upon become the foundational assumptions the venture is built upon.

Want to build a venture that can survive the treacherous white water of start-up? List all the questions you have about your business/venture and then next to every question, list the type of expertise or knowledge someone you need to get the best answer or the best advice so that you can determine the answer. Once you’ve got a list of all the knowledge and expertise needed make a list of every person you know that may have contacts and relationships with people who might have the knowledge, skill set or specific expertise you need on your pre-startup advisory council.

You don’t need an attorney you need an attorney that specializes in patent licenses if you’re developing a B2B solution specializing in licensing patented inventions. Let your EGO go. Admit your blind-spots. Admit that you do not know what you don’t know.

You don’t know what you don’t know….someone has the answers or information that will help you find answers…find them; find people who know what you don’t know to help you build the startup of your dreams.

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