What's the 1st and most critical problem a startup or early stage firm faces?

Adequate capital? Tech talent? Poor MVP?

Nope, it's not understanding, or even considering, who your "ideal" customer is! If you can't build a profile of your intended user, and aren't convinced, through diligent research, that they exist in sufficient quantity, you're ultimately dead in the water.

Remember, your product/solution can't be built based on the "build it and they will come" paradigm. That's destructive nonsense.

Ultimately, you're solving a problem, providing a solution to an existing need. If, however, you can't confirm that sufficient numbers of potential clients exist, and that your product has meaningful 'differentiation,' your firm will never be viable!

It's healthy to have a passion for your product, but don't confuse the strength of your (subjective) conviction with the strength of the (objective) evidence.

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