Mandoka Island

One of the most unexpected yet profound lessons learned in our first year had little to do with technology or product development itself; it centered on the crucial skill of discerning valuable advice from noise. We were fortunate to have the backing of astute, well-connected investors. Yet, countless board meetings left us feeling more bewildered than enlightened.

Too frequently, these discussions devolved into what I now refer to as “Excel Hell” – an endless cycle of projections, sensitivity tables, and burn rate graphs. While these financial metrics are undoubtedly important, they often overshadowed crucial conversations about the product itself: user feedback, key learnings, and the actual progress of our development efforts (or lack thereof). We found ourselves dedicating more time to forecasting hypothetical future revenue than to deeply understanding the fundamental problems faced by the very customers we aimed to serve.

In retrospect, I don’t believe this was the fault of any single individual. Rather, it reflects the inherent nature of many investors, who are, by design, primarily money managers. Their thought processes are rooted in portfolio logic, their primary responsibility being to manage risk and maximize returns across a diverse range of companies. This perspective is entirely valid but also fundamentally different from the day-to-day realities of building a company from the ground up.

Consequently, some of the advice we received reflected this inherent gap in perspective. It was easy to get caught up in discussions about “scaling” – elaborate hiring plans, ambitious international expansion strategies, and sophisticated technical architectures designed for massive user growth – long before we had even validated whether our core offering effectively addressed a genuine customer pain point. And to be fair, we inadvertently fueled this dynamic, eager to impress our investors. However, prematurely chasing theoretical growth metrics diverted our attention from the paramount task of creating something our initial users truly valued.

I share this not to diminish the invaluable contributions of our investors – indeed, some have been incredibly supportive, grounded, and aligned with our product-first philosophy. Instead, it serves as a crucial reminder for fellow founders: you must develop the ability to critically evaluate advice. Respect it, reflect upon it, but always ask yourself the fundamental question: “Will this guidance help me build a better product today?”

Because ultimately, no meticulously crafted spreadsheet can salvage a startup if the underlying product fails to resonate with its intended users.