We completed last year's accelerator by successfully graduating 20 startups, some of which have already become businesses, while others are still on their way, undergoing their first pilot industrial tests in the company. I received several requests to publish insights gained during the program and close communication with startups. So I decided to write an open letter to all applicants for the proud title of Industrix graduate, in which I will share my observations that will be useful to you when building your startup.

A startup must die
In Russia, there is a specific nature of investing, corporate acquisition of startups, accessibility of all infrastructure, and therefore it is easier for a startup to become a business than to be sold. Therefore, the Silicon Valley mechanic of "strongly growing the startup's value and then selling it" does not work here. So it is better to resolve all areas of uncertainty as quickly as possible and build a working business process, without paying too much attention to scaling, and move into profit as soon as possible.

Don't sell - make them fall in love!
The idea that sales come first is correct, but turning into a traveling salesman who knocks on every door and gives presentations is wrong. Rather, the opposite: the startup's task is to create a product that all representatives of your target audience will want to buy.

Less money
The amount that startups ask for at the start is greatly reduced by the end, and as a rule, it is sufficient. If at the start everyone wants to build the final product, over time they realize that the goal is not to make a product, but to prove to the target audience that you will solve their problem, and this can be done not as expensively as it seems.

Small but frequent
Startups that change a small, applied but widespread process feel best, rather than a broad, large, and powerful one. A startup does not have many resources and experience to change the whole world at the start. Therefore, until you have built a working company, you need to find a small process that you will make perfect, and people will buy that perfection. But there must be enough buyers.

Look for pain
Most startups that failed to make it to the end first came up with a solution and then looked for what customer pain it would solve. This is also possible, but it will not be an ideal solution. So look for a problem, and only then think about how to solve it.

Hate your product
Most startups with a product have reworked something in their product. If you are in love with the solution, you will not want to change it, let alone throw away some important part of it. So it is better to love the client and think about how to make their life better, and what you sell is just a "medicine" and it is not the goal, but a means.