I'm starting a 6 part series based on a list I've made while doing startups. This is the list of things you just don't want to screw up. If you screw one of these things up. Your business may not survive the winter.
1. Build the right thing
What you build is much more important then building it quickly, building it cheaply, or even building it well. If you build something that has no market and no one is interested in using it, liking it, or even considering paying for it, you are majorly screwed. Choosing the right market space, product space, and product design is extremely crucial. Spend time here.
Walking quickly in the wrong direction doesn't get you there any quicker.