Take-aways from the lean startup event on traction

This evening's event focussed on traction and the main speaker talked about his fintech startup.

Ironically - because of financial regulations - they couldn't start with an MVP.

Key takeaways were:

• Find investors who think like founders - so don't accept money from just anyone or someone who demands a detailed business plan.
• Focus on your immediate target customer
• Hire on a continuous basis - avoid contractors  - a bit contentious here though it was pointed out that it is often cheaper
• Focus on the product - say no to most feature requests
• Don't scale - again keep to the focus on target customers.