By maintaining an active feedback system at every stage of a startup, founders can reduce their burn rate, increase their virality coefficient, and retain key hires.

From the very first inkling of a concept, founders need to gather a target group of five to ten potential users to begin the feedback loop. We all think we know how the market will react to new ideas, but actual users live with the pros and cons of the existing market conditions every day. They are the market experts.

Big ideas developed in a vacuum are doomed from the start. Feedback is the essential tool for building and growing a successful company.

Jay Samit Quotes