Our Chief Business Development Officer, Domantas Patinskas, sat down with ROCKIT – a leading innovation platform and startup hub in Lithuania – to discuss what truly separates ideas from real businesses, the most common early-stage mistakes founders make, and what it takes to scale with discipline.
In the conversation, Domantas shares his perspective on execution, partnership, and the realities of building companies from the ground up.
Many people have ideas – why do only a small amount of them turn into businesses?
An idea by itself doesn’t have much value. I believe an idea is important and valuable to the founder – it gives them the passion to develop it and should solve a real problem. An idea doesn’t become a business on its own – it is turned into hard work, many mistakes, and the ability to learn from them and discover what works most. Most people stop after the first failure or spend too much time planning the launch, overthinking it. Those who succeed are the ones who have the persistence to develop their first idea and change it as many times as necessary until they eventually find a working model. The difference between those who build businesses and those who don’t, lies in launching the first version of their idea and iterating until it works.
How do you identify a good idea from one that only sounds good?
First, I would look at market size: is there a real market for your customers? Second, does it solve a real problem, or is it just a solution to an imagined one? Finally, is the problem significant enough that people would actually pay to solve it? I would start with these questions, which the founder must first answer for themselves. You shouldn’t go to others with your idea expecting them to deliver a verdict on whether it’s good or just sounds good.
What is the most common mistake solo founders make at an early stage?
Most often, it’s cognitive bias. Founders tend to believe too strongly in their own assumptions about what will work and how. They hold onto their idea for too long without adapting it to reality. Falling into tunnel vision is one of the most common mistakes, and it’s hard to avoid.
“The difference between those who build businesses and those who don’t lies in launching the first version of their idea and iterating until it works.”
Domantas Patinskas
Chief Business Development Officer at Kiloverse
When do you realize you need a partner, not just an employee or freelancers?
You need a partner when you’re not just looking for hands to execute tasks, advice, or brainstorming – but for competencies that will take responsibility for the survival of the business alongside you, and especially help it grow in areas where you are not an expert. I believe a partner should expand the business horizontally. Employees or freelancers often expand it vertically – building structure and dividing tasks – but they rarely expand the business in a transformative way.
What qualities do you value in a co-founder more than skills?
Resilience and internal drive – I call it “the eye of the tiger.” It’s when you see that a person will get it done no matter what. And if they fail, they will have tried everything they could think of and everything they could find in the minds of people around them. Another very important quality is realism. It’s more than humility – it’s the ability to work without arrogance.
What mistakes do people most often make when choosing partners?
Again, it comes back to our assumptions. People often choose friends or those who agree with everything, who are fun to work with and think similarly. A partnership is not a friends’ club. A common mistake is not discussing terms and expectations from the very beginning, assuming everything is clear and self-explanatory. Often what seems obvious to one person is the complete opposite for another.
Is it better to look for someone similar to you or the opposite?
I wouldn’t say the opposite, but you should strengthen each other. Two identical people duplicate each other’s strengths and, worse, their blind spots. If you are a visionary and salesperson, you need someone who can manage processes and operations. A partnership should be like a puzzle – different pieces forming one picture. A marketer and a product person are another good example of complementary partners.
How early should you discuss responsibilities and expectations?
Before starting any activity. If you don’t agree from the beginning or wait until problems arise, there will be trouble. You need to clearly define who is responsible for what and how decisions are made. This should be documented not only verbally but also in a shareholders’ agreement.
What surprises solo founders most when starting a business?
I think there are three main things. First, how much administrative work there actually is when managing a business if the founder handles it themselves – or how expensive it is if you hire external help. Second, how quickly money burns and how difficult it is to manage cash flow – how much everything costs and how little value you sometimes feel. Third, how many small details make up the final result and how long it takes to identify and execute those details properly.
How do you identify persistence from stubbornness?
It’s hard to say. The first thing that comes to mind is that stubbornness seems less rational than persistence. Stubbornness is like persistence without deep thinking. On the other hand, if stubbornness eventually leads you to success, no one judges the winner. I think the key is that stubbornness shouldn’t turn into foolishness – doing the same thing while expecting a different result. Personally, I value both traits positively.
What would you do differently if you had the chance to start from scratch today?
I actually have the luxury of starting from scratch repeatedly – we constantly launch new businesses together with co-founders. One thing I would strongly recommend is having a partner for the co-founder – someone who can provide real support through competencies, capital, and experience gained from building other businesses. Enter such a partnership with the mindset that you are true co-founders. You will complement each other, challenge each other, debate intensely – but you will be aligned on one thing: bringing the idea to a functioning business.
