🗡️ 8 Startup Killers

👋 Hi there - it’s Egemen. Thanks for reading Scalable.

A mentor who crushed it in the 90s or early 2000s might not understand today's market dynamics, distribution channels, or the speed at which startups need to iterate.

Respect experience, but don’t blindly follow it.

Bad advice kills startups.

Look for advice from people who know what they are talking about - not just those with big titles.

Today, I’m sharing 8 startup killing advice I heard many times.

Here’s a snapshot of what’s on the menu today:

💡 Spotlight: Grow beyond the app stores

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For mobile apps looking to grow beyond app stores, Paddle provides the infrastructure and expertise to successfully sell on the web without building complex payment systems.

Grow beyond the app store with Paddle.

🧠 Deep-Dive: 8 Startup Killers

The wrong mentor can cost you years.

Someone who crushed it in the 90s or early 2000s might not understand today's market dynamics, distribution channels, or the speed at which startups need to iterate.

If they’re giving advice based on an outdated playbook, you could be making moves that used to work - but are now a complete waste of time.

(Side note: If you need “good” advice, tell me what’s going well or not so well, reply to this email, I’m here to help.)

Here are top 8 pieces of bad advice that I heard repeatedly over the years - avoid them.

1. Build it, and they will come

   Let’s say you build a great product after many countless sleepless nights, Redbulls, and all. Well, it’s not gonna sell itself. You need to have a GTM strategy.

2. Hire fast and fire faster

   This will lead to a toxic work culture, plain and simple. Take your time and focus on quality.

3. Steve Jobs didn’t ask what customers wanted

   Understand the actual painpoints of customers, do not direct input on products they can’t envision.

4. Raise as much cash as possible

   Once you’ve accomplished your fundraising goals for a considerable runway, you should stop. Or you’re simply giving it away for a discount.

5. Focus on fundraising, not revenue

   A business that doesn’t generate cash will fail. Investors are investing in you, expecting to make their money back.

6. Outcompete the market with low prices

   Most times, you’ll hurt yourself more than your competition. Your customer base will be disloyal, and margins will suffer. Compete on value instead.

7. Do what the successful companies are doing

   Just don’t. Be yourself.

8. Don’t launch until it’s perfect

   Perfection is a myth. Delaying your launch will come at a heavy price in the form of opportunity cost (missed customers, feedback, insights, etc). Launch fast, iterate faster.

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🗺️ Method: Simple Product Market Fit Assessment

This is a little checklist I’ve come up with.

It’ll help you self assess your product maturity as a founder.

🙌 I hope this comes in handy for you when you need it!

⚾️ Catch

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☝️ Scaled This Past Week: Froda

Swedish Froda grabs €150M from EIF to close SME financing gap in Europe - it’s the scale of the week!

The funds will boost Froda’s lending capacity, enabling it to reach more European small businesses - helping them compete.

Here’s what Froda does:

• fast and flexible financing solutions for small and medium-sized businesses,

• streamlines loan applications, making approvals quick and hassle-free,

• partners with banks and fintechs to integrate lending services directly, and

• uses transaction data and AI to assess creditworthiness without requiring traditional collateral.

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