Thursday, December 6, 2007

Startup

While searching for "startup" Paul Graham's article showed up and l was able to relate to most of it. Here are some of the key points:
  • In particular, you don't need a brilliant idea to start a startup around. The way a startup makes money is to offer people better technology than they have now.
  • Hire people who could be described as an animal
  • Produce something that customers want. Authors gives a restaurant example.
  • Word "business" is not that difficult to understand in a technology startup.
  • Spend money wisely. Burn it slowly.
  • Are you a "startup" material?
Another great article by Loïc Le Meur on the rules of the game.
  • Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible
  • Share your idea. The more you share, the more you get advice and the more you learn. Meet and talk to your competitors.
  • Build a community. Use blogging and social software to make sure people hear about you.
  • Listen to your community. Answer questions and build your product with their feedback.
  • Gather a great team. Select those with very different skills from you. Look for people who are better than you.
  • Be the first to recognise a problem. Everyone makes mistakes. Address the issue in public, learn about and correct it.
  • Don’t spend time on market research. Launch test versions as early as possible. Keep improving the product in the open.
  • Don’t obsess over spreadsheet business plans. They are not going to turn out as you predict, in any case.
  • Don’t plan a big marketing effort. It’s much more important and powerful that your community loves the product.
  • Don’t focus on getting rich. Focus on your users. Money is a consequence of success, not a goal.

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