Learn more about entrepreneurship with this collection
How to start a successful business
How to build a strong team
How to market your business
1. Chasing the wrong problem
This sounds insane, right? How can you be blamed for wanting to solve a problem?
Tan says people choose the wrong problem for a wide variety of reasons: Founders sometimes choose a problem that isn’t problematic for enough people, he said, citing the example of a hypothetical 25-year-old San Francisco-based engineer who may be out of touch with the rest of the country. When founders target the wrong problem, it typically means that the market will be too small for a venture-like return.
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Blind measurement can lead to problems at the individual, corporate, and societal levels.
- The wrong metrics can cause unintended consequences. For example, when the British government offered a bounty for every dead cobra in Delhi, enterprising start...
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