Saw this recent response from Angel Investor Andrew Dumont: and wanted to share it with the community:
There is no right or wrong way to start a company (…well I suppose if it fails - looking back - you could say it was the wrong way to start a business, but many ‘wrong ways’ to start a business have turned out very lucratively). The core of Andrew’s advice that resonates with me is that there are ways you can reduce risk to validate the business. How can this business make enough revenue to support my (and possibly my team’s) living wage, current wage, and future higher wage? If you have a reasonable guess on these questions (and you can afford the runway), build, build, build your way toward a new business.