Leonard Lee – You Will Only Succeed If You Identify the Market Opportunity First

<p><strong>BIO:</strong> Leonard Lee is a tech industry analyst and strategy consultant. He is the managing director and founder of neXt Curve, a research advisory firm.</p><p><strong>STORY: </strong>Leonard shares the most common mistakes he has seen in startups and his advice on dealing with those mistakes.</p><p><strong>LEARNING: </strong>Understand the market opportunity before launching your startup idea. Invest in advisors to help you understand the structure of the market. Test the market with a minimum viable product.</p><p>&nbsp;</p><p class="ql-align-center"><strong>“Get knowledgeable about your market opportunity, and then target your investments.”</strong></p><p class="ql-align-center">Leonard Lee</p><p>&nbsp;</p><h2><strong>Guest profile</strong></h2><p><a href="https://www.linkedin.com/in/leonard-lee-nextcurve/" rel="noopener noreferrer" target="_blank"><strong>Leonard Lee</strong></a> is a tech industry analyst &amp; strategy consultant, a solution architect, an innovation coach, a startup and board advisor, a Trekkie, and a musician.</p><p>He is the managing director and founder of neXt Curve, a research advisory firm based in San Diego, California, focused on providing cross-domain ICT industry research and advisory services to enterprises, startups, and technology vendors looking to differentiate themselves and win in a rapidly changing digital economy.</p><h2><strong>Worst investment ever</strong></h2><p>Today, we are going to do things a little differently. Our guest Leornard Lee will share the most common mistakes he has seen in startups and his advice on how to deal with those mistakes.</p><h2><strong>Lessons learned</strong></h2><h3><strong>Determine the value potential of your idea</strong></h3><p>There are a couple of things that determine the actual value potential of an idea. One is how ready the market is. The second thing is technical readiness.</p><p>One of the things that a lot of startups don’t factor in quite well is the economics. You have the idea first, but you fail to think th