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INDUSTRY INSIGHTS
Ex AutoDesk CEO’s 12 Lessons For Developing Products

After 27 years at Autodesk and multiple ventures afterward, Amar Hanspal shares his hard-earned wisdom about building successful products. Drawing from both successes and failures, here are twelve crucial lessons every product builder should know.

1. The Long Game

"Ideas are a dime a dozen," says Hanspal. While it's easier than ever to start building products with today's technology stack, finishing is the real challenge. Building a successful product typically takes 7-10 years, especially in the AEC (Architecture, Engineering, Construction) industry where adoption cycles are slower.

Before starting, ask yourself if you're ready for a decade-long journey. As Hanspal puts it, you need to be like an explorer: "You're like, I got to find the source of the Nile. I cannot sleep if I don't find the source of the Nile."

2. Team is Everything

"The team you build is the product you build is the company you build." Your team's dynamics will be reflected in your product. Hanspal warns against over-indexing on big company names when hiring. Instead, look for people who have tackled hard problems and handled pressure well. The culture you create comes from the people you bring in, and once set, it's hard to change. At early Autodesk, ideas mattered more than titles - that culture drove their success.

3. Define MVP Properly

"The minimum viable product is the one that customers will buy. It ain't viable otherwise." A common mistake is releasing something too small that isn't actually useful. Your MVP needs to be substantial enough to make a difference in someone's daily life. The bar is higher when entering an existing category - if you're building a new CAD system, you need to do more than if you're creating something entirely new.

4. Execute Relentlessly

Ideas aren't unique - it's all about execution. "Tesla wasn't the first company with the idea of an electric car. GM had it in the 1980s, but Tesla was the guys that relentlessly executed that idea." Success comes from breaking down big ideas into smaller steps and making every step work. The secret sauce is building a team and process that can consistently deliver results.

5. Smart Growth in Sales

Think of acquiring users like dating - be seductive but take care of them long-term. In early days, focus on depth rather than breadth: "I would rather have 20 companies using your product across a thousand employees than a thousand companies using your product with 20 employees." Build deep relationships before going broad.The Legacy of Flux

6. Balance Your Growth

Growth isn't random - it comes from careful balance. "Finding the balance between pressing on the accelerator and pressing on the brake is sort of a little bit of an art." Don't hire too many people too soon, but don't stay too small either. Match your growth with your customers' ability to adopt your technology.

7. Cash is King

"Cash is like oxygen" - you can't survive without it. For startups, forget about complex financial metrics initially. Focus on having enough cash runway - ideally two years in AEC. Watch your numbers closely; they tell a story about efficiency and scalability. Many young companies fail because they run out of cash before their adoption cycle completes.

8. Fundraising Reality Check

Raising capital is "always harder than you thought it would be and it always takes longer." Hanspal advises raising money when you can, not when you need it. Look at OpenAI's approach - they raise during moments of momentum, not desperation. About a third of a CEO's time goes to investor relations, so take it seriously.

9. Expect the Punch

Mike Tyson said, "Everyone has a plan until they get punched in the mouth." Your perfect business plan will hit reality. Whether it's COVID-19 disrupting everything or customers saying your product isn't what they want, be ready to adjust. Watch what customers actually do, not just what they say.

10. Learn from Losses

Like Roger Federer, "The best in the world are not the best because they win every point. It's because they lose again and again and have learned how to deal with it." Expect crisis events - Hanspal mentions facing six in just 18 months with his current venture. Success isn't about avoiding failures but about persisting through them.

11. Maintain Balance

Don't buy into the myth that you must sacrifice everything for your startup. "If you're going to take seven to ten years to build a company, you can't be running at 150% the whole way." Invest in your mental and physical health, maintain relationships, and keep perspective. Build your company because you love the work, not just for potential rewards.

12. Timing Matters

We're at a technological inflection point with machine learning and other advances. These breakthroughs let entrepreneurs reimagine product experiences and challenge incumbents. As Hanspal notes, "The battle is always the speed between which a startup gets distribution and an incumbent gets innovation." Usually, incumbents don't innovate fast enough, creating opportunities for startups.

Building products is a marathon, not a sprint. Success comes from balancing multiple factors: a strong team, proper execution, smart growth, and personal sustainability. While the challenges are significant, Hanspal remains optimistic: "No time like the present to start a company. Just know it's going to take a while."

Check out the full episode with Amar Hanspal 👇👇👇

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