Do you struggle with how to navigate the dilemmas of creating outstanding products? Don’t feel bad. Most successful tech entrepreneurs faced the same zigs and zags on the road to success.
The reality is that most tech entrepreneurs will have setbacks and struggles that they will have to navigate. In fact, the odds are roughly 1-10 that your business or idea will succeed.
Thousands of tech entrepreneurs just like you fight these odds daily to be that 1-10 that makes it. The successful ones have learned how to navigate the eight deadly dilemmas of tech entrepreneurship. Now, so can you.
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Summary of The Eight Deadly Dilemmas
Each post in the series tackles the dilemmas that tech entrepreneurs face. A summary of them is presented below:
- Solo vs Team: When to go it alone or recruit a team. It’s surprising how much strife this one causes.
- Make vs Buy: What’s your secret sauce as opposed to what enables it.
- Bootstrap vs Investors: How fast and when should you scale your idea
- Niche vs Mainstream: Vertical focus or horizontal platform. It’s harder than it sounds.
- Free vs Paid: Do you give it away, give away some of it, or always have people pay.
- Product vs Service: Defining your offering or set of offerings that give people the most value.
- Original vs Pivot: The hardest thing to do is kill your great idea but sometimes, being in love with your technology can lead you astray.
- Beta vs 1.0: When do you let your creation out in the wild.
If you find yourself challenged with navigating these dilemmas or are thinking about starting your own tech enterprise, then join our community of like-minded tech entrepreneurs.
What Exactly is Tech Entrepreneurship
Tech entrepreneurship is the art, science, and practice of bringing new and innovative products or designs to market. Tech entrepreneurs primarily come from non-business-related fields such as engineering, science, the arts, and design.
Tech entrepreneurs build products and services that typically don’t yet exist, have no established market, and/or disrupt the status quo. They differ from normal entrepreneurs in that they are feature-driven instead of spreadsheet-driven, don’t let ROI get in their way and are always looking for the next big thing.
If you are one of us, then the 8 deadly dilemmas successful tech entrepreneurs navigate course is for you.
What This Course is About?
The 8 deadly dilemmas successful tech entrepreneurs navigate details the turbulent dilemmas that tech entrepreneurs face as they build their idea into 1 in 10 winners or a 9 in 10 losers. Each dilemma is organized so that the essence of the dilemma can be grasped easily based on the following format:
- Here’s the Dilemma: Explains the dilemma and how it can affect your idea.
- Case in Point: Details one or more companies that successfully or unsuccessfully navigated the dilemma.
- Ask Yourself This: Questions that you should ask yourself if you are faced with a similar dilemma.
- Dig a Little Deeper: Links to books, companies, podcasts or blog posts so you can learn a little more.
Who Will Benefit From This Course
My goal in writing this course is to help current or aspiring tech entrepreneurs not make the same mistakes myself and countless other friends have made. The lessons in this course were painfully learned by the people that faced them and it’s important to acknowledge that even though setbacks occur, success will come as long as you never give up.
If you are a current or aspiring tech entrepreneur, then this course will help you navigate the dilemmas you will face on the road to success. Of course, results may vary but the most important thing any tech entrepreneur can do is learn as much as she can so that when she is hit with a dilemma, she can make the best decision.
Who am I?
I am an Engineer: Specifically, an Integrated Circuit (IC) design engineer. I have spent my whole career around chips. From massive parallel processors to speech recognition micro-controllers to 2.4 GHz wireless radios to single-chip RTLS tags. Recently, I have moved into doing more software. All these projects have taught me the joy and heartache of building innovative products. Every major IC project I have ever worked on has had some screw-up or major heartburn. You just can’t push the edge without screwing up a little.
I went to the Dark Side: It’s true. No shame in it. I am a card-carrying member of management. Most of my day is spent managing intelligent, highly motivated people who build incredible products. I try and stay out of their way as much as I can. Sometimes, it’s hard to hold back the inner geek. This usually ends quickly because my guys are way smarter than me when it comes to engineering.
I have been at or started 5 startups: Most of my career has been at startups. All of the dilemmas in this series I have personally encountered. Along with my experiences, I have learned from the experiences of my friends and have researched other tech luminaries to capture the lessons in this series.
Why 8 and not 38 or 108?
I’m sure that many of you can come up with several more dilemmas that impede tech entrepreneurial success. Eight dilemmas is not some magic number that came out of some super-scientific study or anything like that. Where it does come from were the points where making the wrong decision will lead you down the road to failure.
The Original vs Pivot dilemma is an excellent example of a make or breaks moment for a company. Do you continue down the road of your original brilliant idea or do you pivot to something new? Many a company missed the pivot and are now footnotes in history.
Don’t be a footnote in history. Join the course and uncover how to successfully navigate the kinds of dilemmas that all of us face.
The 8 Deadly Dilemmas