Some advice for start-up companies!
Hi everyone,
Here is some of the best startup advice I’ve heard or given (mostly heard) for start-up companies. Hope that these recommendations will be helpful to you in some extent.
1. Make something people want.
2. A great team and a great market are both critically important—you have to have both. The debate about which is more important is silly.
3. Set a clear, easy-to-understand vision for your company, and make it be a mission people believe in.
4. Stay focused and don’t try to do too many things at once. Care about execution quality.
5. Obsess about the quality of the product.
6. Speed is one of your main advantages over large companies, thus move as fast as possible.
7. Hire slow; fire fast. Hiring is the most important thing you do; spend at least a third of your time on it.
8. Hire smart and effective people that are committed to what you’re doing. The last five words there are important.
9. You can create value with breakthrough innovation, incremental refinement, or complex coordination. Great companies often do two of these. The very best companies do all three.
10. You can win with the best product, the best price, or the best experience.
11. Remember that you are more likely to die because you execute badly than get crushed by a competitor.
12. On the really bad days, remember that tomorrow will be better—it’s hard to see it being much worse!
13. Keep a to-do list every day. At the top of it, put the one or two big things you want to work on.
14. Have a culture that rewards output.
15. Good investors are worth a reasonable premium.
16. A lot of the best ideas seem silly or bad initially—you want an idea at the intersection of “seems like bad idea” and “is good idea”.
17. Startups should require as few miracles & lucky as possible, but at least one.
18. In general, don’t start a startup you’re not willing to work on for ten years.
19. Over-communicate with your team. For some reason most founders are really bad at this one. Transparency is your friend.
20. Don’t let your company be run by a sales guy. But do learn how to sell your product.
Feel free to add your comments here so that this article will be more fully informative!
(http://www.magebuzz.com/blog)
