StartUP - Start Over
Ok, so now you have a new job. Or, you now realize that
decorating your new offices ahead of revenue maybe wasn't' such a good
idea. Perhaps you loved that crazy startup atmosphere where suits
were absolutely out of place. Or you just survived the downsizing
and are looking at yourself going "what was I thinking 170K a year wasn't'
Time to move on. But those of us who run companies are doomed to
constantly rehash all the decisions. What we could of been, what
we should of done better. It is easy to beat yourself up, but the
facts remain that the last year was sobering and full of lessons if you
care to learn them.
So I title this essay....
"Experience is what you get when you don't get
what you want".
Lesson1. Timing is everything. A great idea a year
late is worthless. A great idea in a startup market with too much
money being flung around is also worthless. What matters is
getting a product or service to market and having someone buy
it. If you can do it on a small amount of seed money that is
the ticket. Big money should be spent to push a big idea that is
already working in a small prototype.
Lesson2. You can pick your husband...Hey you can pick who
you work with too! Too often in the hectic grow, find talent
craziness you end up with first time players. Hire only
people that have done it before, whatever it is. That goes
for Venture Capitalists also. While the angel money was good for
seed rounds, if you didn't have seasoned Venture Capitalists around, you
didn't get followon rounds. (Also, they have the experience to
wave the BS meter early).
Lesson3. Have a Sales Channel. The best ideas in the
world are useless without sales and distribution. That takes money
which means you have to have something that sells and makes you
money....it is a circle that has been around for hundreds of
years...believe me, if you build it they won't come....you have to go
Lesson4. Have a sense of Humor. There is no such
thing as an entrepreneur who only has one deal. We are
serial hitters and each startup CEO has a few strikeouts along the
way. Learn from them, learn it is ok to go back in with a
new plan, even to the same investors, and show them a deal that
"just can't lose"!
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