How to De-Risk a Startup

Principle #1: showing is better than telling.

[1] You think you can do XYZ.

[3] You’ve done XYZ in the past.

[5] You’re currently doing XYZ, and doing it well.

Principle #2: external validation is stronger than your personal opinion.

[1] You claim XYZ.

[3] Numerous people who are affiliated with you (friends/accelerator batchmates/etc.) claim XYZ.

[5] Numerous people who are completely unaffiliated with you claim XYZ.

Principle #3: more data is better.

[1] Your product has 0 sales.

[3] Your product has 5 sales.

[5] Your product has 50 sales.