November 6, 2009
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Capital is not the constraint
- KISS -- Keep it simple stupid)
- GFA -- Be or get fucking aggressive)
- Two critical #’s to remember: Customer acquisition cost and Life Time Value
- The customer has the answer -- Talk to customers when thinking of a service or product or company. And then talk to more customers.
- Competition doesn’t kill companies -- internal combustion and conflict does. Early in the life of a startup the real battles are keeping on the same page and rowing in the same direction.
- Avoid the rush to nowhere -- Urgency and rushing overcomes entrepreneurs. They make hasty decisions and start building too fast. Do your research. Be thoughtful and urgent.
- Beware of shiny objects distraction -- I've noticed, in myself and others, a tendency to look for easy solutions in new features and new strategies. Avoid these distractions. Stay focused. Pay attention to rule #9.
- Focus on 1st market longer than you think - Critical mass is key and many entrepreneurs are too quick to move to a second market before truly winning in their first market.
- Minimum 5 years to create anything of real value - when you start a company you should plan on it taking 5 years to create anything of real value.
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