Image for post
Image for post

The Best $50 I've Spent As A Founder

From a Rare Birds ‘Ask Us Anything’ webinar

It’s intoxicating to have a new product idea. All of a sudden you begin to envision how it will look and feel and how it will change the lives of millions of people. The speed at which your mind makes calculations to help you imagine the future of your product is nothing short of amazing.

  1. Ignore obvious competition
  2. Miss previous pioneers

The best $50 I’ve spent as a founder (and I’ll do it again!)

Each time I’ve had a new idea whether it be AirShr, Founder Perspective or looked at investing in a venture, I’ve asked a trusted colleague who is disconnected from the idea/venture (and who is a straight shooter) to spend one hour Googling for similar products.

  1. Decreased Personal Bias — Your personal bias is removed and whilst it may be somewhat replaced by that of the person conducting the search, they won’t have your baggage you do.
  2. Wider Insight — Following on from the point above, I’ve repeatedly found that asking a trusted, straight-shooting colleague to conduct this type of search has returned rich insight about competitors and previous pioneers which I was probably unlikely to uncover.
Image for post
Image for post

Thanks for reading. If you enjoyed this post, you could hit that little heart and sign up here to receive posts like this in your inbox, every week.

Written by

I write about what I see building companies. Currently growing dropbio.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store