July 30, 2009 at 3:20 am
· Filed under Uncategorized
As a followup to yesterday’s startup reading list for new Internet startup entrepreneurs, here’s some advice:
- Have a fantastic founding team. This means someone technical and someone who lives and breathes product / user experience / design. One or both (or somebody else) should be a domain expert. One or both (or somebody else) should be business savvy.
- Identify the core problem you are solving for people. Most successful startups aren’t about sexy technology, they solve real problems. Really think about your business plan (even if you don’t write it). Who are your target customers? How many are there? How will you reach them? How will you make money?
- Identify your risks and address the biggest one first. This is a great way to stay focused and avoid doing what’s easy or fun. Maybe your biggest risk is “Is my idea technically possible?” or maybe it is “Will anyone pay for this?”. Figure out the cheapest, fastest way to get to an answer, even if it’s paper prototypes or calling up potential customers and pitching your idea.
- Launch as soon as possible. If you’re not embarrassed about what you’ve launched, you’ve waited too long. The only way you’re going to really know if you’re got something is by launching it. Chances are some / most / all of your assumptions are wrong, so why waste time developing the wrong thing?
- Listen like crazy. Your customers will tell you if you’ve solved their problem in a way that works for them. Don’t be afraid to change – change the product, change the business model, be open to opportunity.
- Design is key. Fantastic design makes lasting impressions, and you usually only get One Shot at impressing a new customer or investor. Pay for a professional designer if you aren’t one yourself – get a nice logo and a nice homepage. People make snap judgements about your product and your company based on design.
What am I missing?
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