What are some of the biggest mistakes you've seen startups make?
The biggest mistake I've seen startups make is not being able to stick to one idea. I know that sounds like an obvious answer, but hear me out. It's easy to get caught up in the idea of creating a product, and then once you have it, you want to start building it, which means you have to figure out how to make money from it.
But there are so many ways to make money from a product—you can sell ads on it, use affiliate marketing, create an app for it… The list goes on! So how do you decide what's best? The answer is: You don't.
This is when most startups go wrong—they start with one idea, only to realize later that maybe they should have gone with another one after all. What happens then is that they end up spending time and money on something that they might not even be able to sell, because they've invested too much into making sure it works (or at least trying).
It's better to start small and take baby steps until you find something that works for you. If your first idea doesn't work out? That's okay. Just move on and try something else.