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Hey friends 👋 ,

Happy Tuesday and welcome to the fourteenth issue of Through the Noise!

I hope you all had a great 4th July. Without further ado, today we're looking at common mistakes first-time founders make.

It’s time to strap in and enjoy.

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Avoid these mistakes

1. Solving a problem you don't care about

Many startups fail because they don't like the problem they're solving.

The team loses motivation as there is no deep connection to the problem.

Solution: Pick a problem you face personally

2. Helping users you don't care about

Twitch started out as Justin dot tv allowing anyone to broadcast video online.

One of the core drivers of Twitch becoming a successful company was a reframing to video games.

Solution: Focus around a love for your users

3. Choosing co-founders you don't know well

Work on a solution with people you can navigate hard times with.

Not throw in the towel when your backs are up against the wall.

It could be a friend or co-worker.

Solution: Have a pre-existing relationship with your co-founder

4. Not having transparent conversations with your cofounder

Topics that create friction in co-founding teams:

1. Performance - is my co-founder working as hard as I am

2. Goals - are we working towards the same goal

3. Roles - who's doing what

Solution: Radical transparency

5. Not launching

Do you remember the day Snapchat, Facebook or Instagram launched?

Most likely not.

Launching is no way near a significant event to your users as it is to you.

You can only validate your product once it's in front of users.

Solution: Don't be afraid to launch

6. Not using analytics

What gets measured gets managed.

Measure what your users do when they get to the site.

Solution: Measure so you know what's being used and what's not to inform product development.

7. Not knowing where your first users will come from

Where do you find your first users?

You chose the problem you're building a solution to.

Your first 5 users should come from people you know.

Solution: Choose a problem where you know people past yourself who face it.

8. Poor prioritisation

Don't prioritise the sizzle over the steak.

Steak:

• Push your product

• Get it in the hands of the consumer

• See if they like it

• Iterate and improve

Sizzle:

• Press

• Hiring

• Conferences

• Investors

Solution: Get your product out there.

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Through the Noise Podcast

Last week we recorded the fourteenth episode of the Through the Noise podcast.

Our guest was Hassan Bhatti, an entrepreneur with experience in building deep-tech companies in North America. He currently works as ProductBD at Snowflake, focusing on the healthcare & life sciences industry. Hassan is also an Investment Partner at The Community Fund, allocating capital at an early stage across community driven companies.

We discussed:

• How to narrow the information gap when investing?

• How to approach exit at an early stage?

• How early is too early in deep tech?

Catch the episode on Spotify, Apple and Callin.

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That's all for today friends!

As always feel free to reply to this email or reach out @thealexbanks as I'd love to hear your feedback.

Thanks for reading and I'll catch you next Monday.

Alex