I’ve watched lots of tech startups fail to reach a Series A or even a Seed Round.
The common theme:
Working on too many things so they fail to get the traction investors want.
These startups expand into new geographies or industries without nailing their initial market. Or, building big teams or infrastructure for 1 million when they haven’t customer #1.
I recommend an easy business planning strat to early stage startups:
The Two Goal Method
“Don’t work on more than two goals until your company has more than 10 employees.”
You can pick two and only two goals for the company to work on at any given time. It might be “1- Close our seed round and 2- Get 10 beta users.” Or, “1- Ship feature X and 2- Get to $90k MRR.”
As a startup CEO, your job is to keep people to that. Anything else is a distraction. Just say No.