The skill that created more millionaires than any VC.
You need this ONE skill as a founder.
The skill that created more millionaires than any VC.
You need this ONE skill as a founder.
Noemi Kis
December 13, 2024
Hey Friend,
I’ve been reflecting on how I got here and the lessons that shaped me. Spoiler: most of them came from failing.
Over the years, I’ve launched plenty of ideas that bombed:
A matchmaking service (turns out everyone wants to date a 10).
A water filter I filed a patent for (that turned water black).
White-labeled products on Amazon (no differentiation).
A virtual engineering platform (great concept, tough to execute).
A SaaS for manufacturers (overbuilt and overspent).
I could go on an on, but here’s the point:
This is what success actually looks like.
Idea 1 - Fail
Idea 2 - Fail
Idea 3 - Success
Idea 4 - Fail
Idea 5 - Fail
Idea 6 - Small Success
Idea 7 - Fail
But here’s what most people do:
Idea 1 - Fail
Idea 2 - Fail
Give up.
Why? Because ideas drain your energy. You spend months/years building something, only to discover customers don’t want it. The failure feels so overwhelming that giving up and going back to the comfort zone of a 9-5 feels safer.
My Survival Strategy:
Quick Validation Cycles (weeks, not months)
Talk to customers IMMEDIATELY
ONLY do actions that directly move the idea forward
Forget:
Websites
Branding
Product tweaking
Endless research
Taking more courses
Do THIS Instead:
a) Ruthlessly abandon the bad idea, or
b) Pivot (only based on real-feedback)
That's the game. Fail fast, fail often.
With each idea validation, you level up your skills and mindset. The more you do this, the better you get, and your chances of success keep rising.
Rapid idea validation is a top skill of millionaire founders.
Get good at it and, you have a super power very few have. The ability to create multiple income streams over and over. Given you’re ok with failures in between…
Hope you’ll celebrate the death of your next bad idea!
Talk soon,
Noemi
P.S. I’m back to our regular Tuesday newsletters. Thanks for your patience while my focus has been on nailing the value prop for my new community.
Reply “community” if interested, as I’m opening up a few more spots in December.