Here is a straight to the point kind of post.
Some of these I never talked about before, some I will elaborate on in the future. Some may come as a surprise and some are straight forward.
Each one of those could make a separate lesson in and off itself, and we will no doubt tackle the most prominent problems going forward. Repetition in these things are a good thing, burning this into your memory may not be the worst idea.
So here goes, cutting right to the chase here. Not in order of relevancy, just things many folks in our industry do.
- Using big words and complicated phrases in attempts to impress their audience.
- Saying that they have “2+ billion potential clients”; throwing inflated numbers around.
- Claiming to be “revolutionary”, “disruptive”, and “trustless”.
- Promising rewards to community members who jump some arbitrary marketing hoops.
- Having large subscriber numbers and nearly zero comments and activity on social media.
- Cutting corners on design mockups and MVP in favor of premade templates.
- Outsourcing marketing and content to third parties only vaguely familiar with the project.
- Providing no technical documentation or clear paths to creating the proposed solution.
- Inflating expectations and building up hype instead of building relationships.
- Skimming on their message and unique selling proposition; expecting an innovative idea is enough.
All of these have the same problem at their core: not trying hard enough. The bar for these projects is becoming lower with cryptocurrencies making the funding process easier than ever. So it’s tempting for founders and entrepreneurs to lower their bar and swim with the current.
Well, I’m here to tell you not to – in fact, my “7 Deadly Business Sins” book is here to help if you want this stuff identified better. Few people are trying these days.
Those of us who do? We have superpowers.
Cheers,
Alex