The Shiny Puppy Syndrome
In the world of startups, there’s a common trap that even the most passionate founders can fall into—a trap I call the “shiny puppy syndrome.” Picture this: you walk by a pet store and see an adorable puppy in the window. It’s impossible not to be drawn to it. You might even go inside to pet it, thinking how much you’d love to take it home. But when it comes to actually adopting the puppy, you pause. It’s not that you don’t like it—you just don’t need it right now. Maybe you already have a dog at home, or your lifestyle isn’t suited to raising a puppy. As much as you admire it, you walk away.
This scenario often mirrors what happens in the startup world. You might create a product that everyone says they want, but when it’s time for them to actually pay for it, they hesitate. This is the essence of the shiny puppy syndrome—developing something that’s appealing and desirable on the surface, but not something people are willing to financially commit to.
According to a CBInsights study in 2021, thirty percent of startups fail because there is no market need. Even if you have a decent number of paying customers who are happy with your product or service, that doesn’t necessarily mean you’ve achieved a lasting product-market fit. Gaining conviction around product-market fit isn’t a one-time milestone; it’s a dynamic goal that needs to be continuously validated as your company grows. Without regular validation, your startup might be on shaky ground, even if it seems successful initially.
This is where having someone with an Innovator mindset on your team is crucial. An Innovator is someone who excels at deeply understanding market needs and validating that the solution you are offering genuinely meets those needs. They don’t just create products based on their own experiences or what a few initial customers say. Instead, they dig deeper to ensure that there’s a broad and sustainable market for what they’re building. Innovators are particularly skilled at avoiding the shiny puppy syndrome by focusing on what customers are truly willing to pay for, not just what they say they want.
If your team lacks an Innovator, it’s easy to fall into the trap of assuming that everyone experiences the problem you’ve identified. Your early customers might seem to confirm this, leading you to believe your product is universally needed. You might think, “My initial customers love what we do, so everyone else will too.” But this assumption doesn’t meet the rigorous standards needed to confirm true product-market fit. Without an Innovator, you risk chasing after shiny puppies—products that look great on the surface but fail to secure a committed customer base.
The concept of the shiny puppy syndrome is one of many insights from my book, GrowUp: Take Your Startup to the Next Level. If you’re looking to understand the psychology of startup founders and how to scale your business successfully, this book is for you. It delves into the G-R-O-W framework, which covers the key competencies of Gain Conviction, Ramp Up, Own Your Reputation, and Win Customers, all of which are essential for avoiding common pitfalls like the shiny puppy syndrome.
Get your copy of GrowUp and take the first step towards building a sustainable and scalable startup!