To have a business you need to have more than a business?
The Verge has a profile on electric skateboard startup Boosted:
Born out of a Stanford startup incubator in 2012, Boosted pretty much single-handedly popularized the idea of electric skateboards — or, more specifically, remote-controlled longboards powered by electric motors. The company launched an overwhelmingly successful Kickstarter that same year and started shipping in 2014. Co-founder and former CEO Sanjay Dastoor often talked about wanting to grow Boosted beyond skateboards into a company that made “last-mile” vehicles in other form factors. But it wasn’t until he stepped down and was replaced by fellow Stanford mechanical engineering grad Jeff Russakow in 2017 that Boosted tried to make that happen.
It seems that in today’s day and age it’s not sufficient to have a great idea and turn that idea into a business. There’s this urge to weaponize your company into something that can take on anything and everything. “No! We’re not an electric skateboard company! In a year we’ll be making autonomous cars and Mars rovers!”
Granted their entrance into the electric scooter market is a natural extension of their skateboard business, but shouldn’t you have success with your core product before expanding and diversifying?
It’s always about raising money, never making money.