A new joint in Taman Ratu, Jakarta Barat sets itself apart from its surroundings. It creates a world of its own, really. From its sophisticated hang-on-the-wall water purifier to the geeky-level coffee. It's almost as if it packed in a whole new culture to shine, just like the name suggest. This place bleeds hipster, coffee, and passion.
Their Croque Madam and Hangover Cure were surprisingly enjoyable and we didn't need any flavor enhancement of any sort. No salt, no chili sauce, no pepper. It was all in good balance for our palate. My hash-corned beef-egg was a treat, the only complain was the rather small size. On the other side of the table, the rack of burnt toast, melted cheese, ham and poached eggs was delightful. Plus point: the home made looking bunch of wedges / fries. Minus point: it gets mushy real quick.
So recently I was reading the news and found many stories of startup failures! Amongst them include Yikyak, Path, Theranos, and Vine. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
The funny thing is I can easily see many similarities between those that fail. And actually, @cbinsights did an awesome report on this! Surprisingly, the failure reasons are quite easy to remedy. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
So here’s the top 3 startup failures and how to remedy them:
1️⃣ No market need ➡️ Talk to your customers frequently and listen to understand. As an early-stage startup, your job is to always be talking to customers. If you’re not talking to them, you’ll build the wrong thing for sure!
2️⃣ Ran out of cash ➡️ Be better at fundraising - understand momentum at play & influences that go into VC decision making. Practice pitching until your mouth gets sore.
3️⃣ Not the right team ➡️ Before you start, identify the skills, motivation & values of co-founders in a candid conversation. Look for gritty people willing to learn and commit. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
What are you doing to avoid these mistakes today? Comment down below 👇🏻
💼 Favorite camera bag by @onabags - have been carrying this everywhere! It looks super pretty so you don’t look like a bulky person carrying your camera #whereONAgoes