The biggest mistake people make is thinking they need to incorporate or raise money before building a simple version of their product. Instead, focus on creating a basic MVP, even if it's just an Excel spreadsheet, to test your idea.

Many entrepreneurs struggle to transition from a research mindset to building a Minimum Viable Product (MVP) because they lack the technical skills to create it.

Many companies fail to build an MVP, which is often seen as the first crucial step in creating a successful product.

In the early stages, it's often better to have the founders build the MVP themselves rather than hiring engineers right away.

It's essential for founders to launch early with a minimal viable product (MVP) because the downside is low, and it allows for adjustments as the company grows.

When startups raise funds, they often mistakenly assume they need to spend a set amount each month, which can lead to unnecessary expenses instead of focusing on lean operations.

Many founders mistakenly believe that fundraising is about more than just raising money to build a successful company, which can lead to misalignment with investor expectations.

Outsourcing can create a false sense of progress, leading entrepreneurs to believe they are moving forward when they may actually be wasting resources on a poor product.

Founders often mistakenly believe that spending more money will help them achieve product-market fit faster, leading to frustration and distraction from their core objectives.