The Daily Founder

The Daily Founder Day 041: Question Quest

Questions are the new answers!? Asking the right question at the right time to yourself, your team, the market, your AI…. is a key skill for founders. The entrepreneurial world is a whirlwind of decisions. From product development to team building, every step is crucial. But in the frenzy of "what to do," it's easy to forget the power of "what if.” The quality of your questions determines the quality of your solutions. A vague question like "How can we grow our user base?" might lead to generic marketing tactics. But a sharper question like "What specific user needs are we not meeting, and how can we address them?" opens doors to targeted innovation. So for today’s challenge, let’s cultivate our question-asking superpowers. • We want to challenge our Assumptions: to not accept the status quo and ask "why" behind every "how." • We want to Embrace Open Ended Questions: Instead of yes/no, ask questions that spark discussion and explore possibilities. • And we want to Get Specific to tailor our questions to the situation. We can't ask generic questions and expect specific answers. Pick a decision your facing today, pause and ask yourself: What questions can I ask that will truly illuminate the path forward?” The answer might just surprise you.Happy question quest on Day 041 of The Daily Founder. Have you joined the community group on austrianstartups.com yet?Let’s do this.

The Daily Founder Day 040: Embrace Ambiguity

Do you like clarity? You dream up solutions, craft roadmaps, and chase that ever-elusive vision. But the reality of an entrepreneurial journey? It's a swirling fog of uncertainty. New markets emerge, pivots become necessary, and unforeseen challenges pop up left right and center. So, what's a control-craving founder to do? Embrace the ambiguity.And here's why: • Innovation thrives in the gray zone. Disruption rarely emerges from perfectly defined spaces. Ambiguity allows you to explore uncharted territories, test unconventional ideas, and stumble upon groundbreaking solutions. • Agility is your superpower. The ability to adapt quickly is a founder's secret weapon. When you embrace ambiguity, you become comfortable with course corrections, allowing you to seize fleeting opportunities and dodge unforeseen roadblocks. • Resilience is your armor. The startup journey is paved with setbacks. Learning to navigate ambiguity builds mental toughness, allowing you to bounce back from the inevitable bumps and bruises. Ok so, how do you transform ambiguity from an enemy into an ally? That’s our challenge for today. See which one of the following points resonate and where you apply one small step today: • Befriend the question mark. Instead of freaking out about unanswered questions, view them as springboards for exploration. Embrace research, gather data, and conduct experiments to illuminate the path forward. • Build a culture of "what if." Encourage your team to brainstorm alternative scenarios and contingency plans. This not only fosters creativity but also equips everyone to handle the unexpected. • Focus on agility, not rigidity. Ditch the overly-structured plans and embrace flexible frameworks. Prioritize clear goals over micromanaged processes, allowing you to adapt as you learn. • Celebrate calculated risks. Don't let the fear of the unknown paralyze you. Taking calculated risks in ambiguous situations can lead to exponential growth Remember, ambiguity isn't the enemy. It's the fertile ground where groundbreaking ideas take root and resilient founders flourish. So, take a deep breath, step into the fog, and embrace the beautiful mess that is your entrepreneurial journey. Thanks for tuning in, this is Day 40 of The Daily Founder. Find more good stuff in the community group on austrianstartups.com. Let’s do this.

The Daily Founder Day 039: Show, Don't Tell

As a founder, you're constantly pitching your vision. Whether it's to investors, potential customers, or even your own team, you need to be a master storyteller. But simply telling people how great your idea is won't be enough. You need to show them. Today, we’ll try to improve how you can better showcase what you got. Here are 4 ways I’ve encountered that do just that. Pick at least one today and try it out! 1: Paint a Picture with Data & Facts Instead of saying your product is "revolutionary," back it up with data. Showcase impressive user growth statistics, positive customer testimonials, or market research that highlights a clear gap your product fills. Let the data do the talking and paint a picture of the potential. 2: Demonstrations Over DescriptionsDon't just describe your product's features – demonstrate them! Have a working prototype and showcase its capabilities. If it's a software product, walk through a real-world use case. For a physical product, highlight its innovative design or functionality. A visual demonstration is far more impactful than a lengthy technical explanation. 3: Use Customer Stories to Show Impact Numbers are important, but stories resonate. Find early adopter customers who are excited about your product and let them share their experiences. These real-world examples showcase the positive impact your product is having and its potential to scale. 4.: Show Your Passion & ExpertiseBeyond the product itself, you, the founder, need to be captivating. Your passion for the problem you're solving and the deep understanding of your market should be evident. Demonstrate your expertise through your presentation style, responses to questions, and the overall confidence you exude. This is Day 039 of The Daily Founder. Join us in the community group on austrianstartups.com, like, comment subscribe. See you tomorrow. Let’s do this.

The Daily Founder Day 038: Pain Points

Looking to create a meaningful and lasting solution? Well, a solution starts with a problem. So before looking into solutions, you gotta identify and understand the problem. Today, we’re looking for pain points and let them be the driver for creativity and innovation. Identify a pain you face as a customer, user, community member, or any other role you might have. Answer these two questions: - Is it a big enough problem to justify big efforts to solve it? - Would you pay for a better solution and if so, how much? Both yes? You may be onto something. Try to truly understand where the problem or pain comes from and the impact it has. Then you’ll be set up to let your creativity run wild and start building a solution.A quick solution to a pain point I’m having would be for you to like, comment, subscribe and join the community group on austrianstartups.com. Let’s do this.

The Daily Founder Day 037: Gut vs Data

Do you trust your gut? I think in many situations it’s wise to trust your instincts. But on an entrepreneurial journey there are so many uncertainties that it’s also wise to recognize when to question your initial gut feeling and get some data to back it up. Don’t ignore a gut feeling, there’s probably something there to investigate, but don’t think it’s enough to take big decisions. 
So today’s challenge:Follow up your gut feeling about something that’s been on your mind with curiosity. Where does it come from? Why do you have it? Do others feel the same? Why? 
Enjoy investigating and understanding your gut feelings! Thanks for tuning in to Day 037 of The Daily Founder, please help us out to keep going with this by liking, commenting and joining the community group on austrianstartups.com.Let’s do this. 

The Daily Founder Day 036: Think Prototypes

Let’s build a prototype today! Why? Prototypes allow you to test if your ideas and assumptions are actually true. It saves you time and money to first build prototypes and test with them before building and designing your full product or service offer. Going on a prototyping journey gives you more confidence and actual data if it’s technically possible, if anybody would actually want it and how it should look like.
So let’s create one today.
I suggest to define 4 things for your prototype: First: The right question aka the hypothesis. Which assumption do want to test?
Secondly: Define the minimal feature set. What is the MINIMUM requirement, the cheapest and fastest way to get to an answer to your question?
Number 3: Design your experiment. Are you just testing if it can be done technically? Do you need two versions to show to people to see which one is better - an A/B test? Is it a questionnaire? Unleash your inner scientist and try to figure out which setup is best suited to give you the answers you need (not the answers you want!).
And for number 4: Define the success metric. How will you know whether your assumption is true or false? Define how you measure and at which number or result you’ll count it as confirmed or not.
Voila. This is it for Day 036 of The Daily Founder. Comment, like, subscribe and join the community group on austrianstartups.com Always be prototyping. Let’s do this.

The Daily Founder Day 035: Nobody Cares

Nobody really gives a flying f*** about what you do - a very liberating realization, at least it was for me. It just means you should do you, go do your thing, make stuff happen, don’t overthink it. But what will other people think? - Nobody cares! Of course your friends and family care about you, but we tend to drastically overestimate how much others actually think about us and what we do. In reality, everybody’s got their own stuff going on and perceive everything through their lens. And other people are not on the same path you are on. You’ve got to walk your own path. And nobody can stop you, but yourself.
For today’s challenge. Every time the thought arises “What will other people think?” slap yourself on the wrist and ask yourself instead, is this the right thing to do for me right now?
Care less about what other people might think. Just keep going and be kind along the way.
It would be very kind if you left a comment and like. Join us in the community group on austrianstartups.com. This is Day 035 of The Daily Founder. Let’s do this.

The Daily Founder Day 034: Party Time

Let’s celebrate today! It's so important to celebrate your wins. In entrepreneurship we’re experiencing frequent and unpredictable ups and downs , which can be rather unsettling. Every day is a journey and the low moments of uncertainty and doubt are inevitable. You will question yourself, your model, your team. When that tide turns again (and it will), then take the time to celebrate and reflect on that win. It will serve as your foundation for the next bumpy ride and give you more appreciation for the journey and achievements along the way.
So for today! Celebrate something, anything, focus on something good and enjoy! Do that regularly. It will be worth it!
We’re celebrating making it to Day 034 today! And would definitely celebrate your contribution in the comments of the community group on austrianstartups.com. Let’s do this.

The Daily Founder Day 033: 33% Network

How does your network look like? How much time do you spend with whom and why? The 33% rule is a great way to maximize your networking potential.The 33% rule states that one third of your network should be people you can learn from, who once stood where you stand. The benefits are obvious. Use the wisdom and experience of others who have done it before. One third should be people in the same boat as you, peers who inspire you, people you can share comparable insights and experiences with for mutual growth and collaboration. The last third should be people who can learn from you, so you can give back to the community that nurtured you. Teaching is a great way to learn yourself and strengthen your own knowledge. So for today, aim to follow the 33% rule and network with one person from each third. Thanks for tuning in on Day 33 of The Daily Founder. You can find a great network of entrepreneurial minds on austrianstartups.com in our community group. Come join. Let’s do this!

The Daily Founder Day 032: ICE ICE, Baby

Plenty of ideas, but not sure where to start? Here comes the ICE score.
ICE, for Impact, Confidence and Ease, is a simple framework to help you pick your next battle. Rate your ideas, features, options or whatever you want to prioritize on a scale from 1-10 in these three dimensions, add up the points and sort for the highest, there you go. You got your winners. So for today, try out the ICE score for whatever it is you want to prioritize. Please do the thing, you know, comment, like, subscribe and join the community group on austrianstartups.com. Let’s do this.