5 Wrong & 5 True Facts Usually Heard in the Startup Environment

5 TRUE Facts:

1. "Nobody is going to invest in something you haven't invested yourself first with whatever you possess: full-time dedication and/or money"

2. "You need to test your idea and start generating revenues as soon as possible"

3. "Be open to change: change & adaptation to market is best thing that can happen in a startup phase, where you are allowed to make mistakes"

4. "Team is king: hire the right honest hard working individuals as soon as possible"

5. "Motivation in a startup cannot be driven by money or tangible rewards. If a team member is asking for just money in order to deliver his / her tasks, get rid of him / her as soon as possible". 

5 FALSE Facts:

1. "Solo founded startups cannot be funded"

2. "Your idea has to solve an existent problem" 

3. "You need to have a physical office to run your business"

4. "Due diligence period lasts at least 6 months time" 

5. "You need to have a perfectly functioning product built with the latest technology in order to get funded"

Do you agree and can you add more of true and false sentences (only if verified)? Thanks!