Posts Tagged ‘ Business plan ’

May 27
Wednesday

10 Lessons From A Failed Startup

Filed under Opinion, Tips/Advice

A person once said that the only positive thing about goofing up is how much others are amused by it. That is a bit cruel, obviously. If we reword the sentence and make it become “The one positive thing about making a mistake is that others will be able to learn from it” it becomes more palatable. Less Ambrose Bierce-like, granted, but true nonetheless.

If you want to learn from someone’s mistakes (or laugh at someone’s miscues, that depends on your vantage point) you will be able to do so by reading this post named “10 lessons from a failed startup”. Here you have its main points:

1. Find quick money first.
2. Content businesses suck (or: do it for love and expect to lose money).
3. Know when to value speed vs. stability.
4. Set a dollar value on your time.
5. Marketing requires constant expertise.
6. Control and calculate your user acquisition costs.
7. Form partner relationships early, even if informal.
8. Plan costs conservatively and err on the side of raising too much.
9. The key to negotiating is having options.
10. Knowing isn’t enough.

One thing that shines through time and again when reading the full article is that ideals are fine but reality calls the shots. That is, you must adapt your ideals to the real world. It will never work the other way around. And yes, I know it worked for Jerry Maguire. And as much as I love that movie, that is all it is – a piece of fiction. Get real, or pick a different trade.

All entries filed under this archive


To Fail Or Not To Fail
Comments - Posted 03.24.09
Recently I discussed the role that failure plays in success. This article offers a different take, or rather, a take that is solely based on the industry. The basic premise is that while failure will teach you what to restrain from, it will not necessarily show you what to do. ...continue
Things To Tell VCs
Comments - Posted 03.24.09
[caption id="attachment_2944" align="alignright" width="255" caption="Every chance you get to pitch, is a chance to make a startup better"][/caption] If you’re a startup owner, then you know that you’re going to be picthing to a VC some time or another. It’s all fun and games until you get in front of the ...continue
20 Ways To Bootstrap Your Business
Comments - Posted 03.18.09
This very interesting list was published recently on the Young Entrepreneur blog, and it is definitely worth checking out in its entirety. There you have it item by item, and at the end I make some remarks. 1. Start A Service 2. Figure Out What Makes The Most Money 3. Get Volunteer Help 4. ...continue
Startup Procrastination
Comments - Posted 03.16.09
[caption id="attachment_2879" align="alignright" width="262" caption="You don't need all of those things, just get out there and do it"][/caption] Here are more things that are keeping your from starting up. These are all in your head, they’re mental blocks you set up in order to procrastinate the launch of your own venture. -   ...continue
A New Investor Filtering Tool
Comments - Posted 03.09.09
Looking for the financial spark that could set your scheme into a vibrant flame is harder than ever, and any new service or initiative that brings investment groups into closer contact with the young and bright minds of our time is more than welcome. Funding platform Angelsoft has made a very ...continue
Goldberg & Sack on the Downturn
Comments - Posted 03.09.09
This is gearing up to be a crazy economic downturn. It’s something none of us have ever seen, the economy is downright rotten to the core, and no one really knows what to do. XConomy.com recently attended a talk by Michelle Goldberg and Andy Sack, from Goldberg  & Sack, and they ...continue
On The Road To Realization
Comments - Posted 03.03.09
They say that you can’t untie a knot if you don’t know how it is tied. You might cut it in half such as Alexander did with his sword, but that is a different matter altogether. It depends on what you want to achieve, and the impression you intend to ...continue
Using Technology To Grow Your Business
Comments - Posted 03.03.09
Using Technology to GROW your business View more presentations from Aaron Schaap. (tags: growth business) continue
Getting A Bootstrap Business Plan Together
Comments - Posted 03.02.09
This article by Tim Berry deals with the confection of a stripped-down or bootstrap business plan. This list is made up of six points, and you can read it in its entirety here. Tim makes some very interesting remarks as regards the actual importance of not going to extremes. That ...continue