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.

Venture-backed startups with billion dollar market caps are called 'unicorns' because they are supposed to be rare mythical creatures that few entrepreneurs will ever ride.

The answers to all a startup's challenges are out there. By setting up the right mechanisms for gathering feedback, the road to success can be a less bumpy ride.

Jay Samit Quotes