Entrepreneurial Nuggets of Wisdom
This O'Reilly Radar post and its comments contain much good advice for startups, particularly geeks who would be entrepreneurs. The post takes the form of explanations of the following "proverbs"
Starting
It's good to be king...Working in an environment you shaped to your own beliefs about how a company should be run is incredible...
Losing sucks -- shutting down a company is unbelievably difficult...
Building to flip is building to flop...
Prudence becomes procrastination...
Momentum builds on itself -- just start...
Jump when you are more excited than afraid...
The Idea
Pay attention to the idea that won't leave you alone...
If you keep your secrets from the market, the market will keep its secrets from you...
Immediate yes is immediate no -- does everyone immediately tell you your idea is great? Run away from it...
Build what you know...
Give people what they need, not what they say they need... You have to sherlock out the truth of the interest people express
Your ideas will get better the more you know about business...
People
Three is fine; two, divine...
Work only with people you like and believe in...
Work with people who like and believe in you...
Great things are made by people who share a passion...
Product
Cool ideas are useless without great needs...
Build the simplest thing possible...Simplicity leads to clarity in everything you do.
Solve problems, not potential problems...
Test everything with real people...
Money
Start with nothing, and have nothing for as long as possible...
The best investor pitches are plainspoken and entertaining...
Never let on that you're keeping a secret...Respond to the idea behind the question, without giving away more than you feel comfortable discussing...
No means maybe and yes means maybe...Keep on driving until the wire transfer is complete.
For investors, the product...matters far less...than the reactions of customers, the properties of the market, and the credibility of the team...
The best way to get investment is not to need it..."
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