Posts Tagged ‘ Start Up ’

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


Small is the New Big
Comments - Posted 04.02.09
[caption id="attachment_3016" align="alignright" width="300" caption="Don't let your startup become a dinosaur"][/caption] “Small companies with low overhead, reliable owners, a small number of committed employees, personal client relationships, and sustainable business models that drive a reasonable profit are the great opportunity of our time.” - Blogs.HarvardBusiness.com The above quote shows something that we’ve ...continue
The Rules of Starting a Business
Comments - Posted 03.27.09
[caption id="attachment_2986" align="alignright" width="300" caption="Following these rules can get you the number one spot"][/caption] So you have decided to play out the hand that was dealt to you, and you want to start a business. Good job! After all the excitement winds down, you have to know how to get down ...continue
How to Weather the Economic Storm
Comments - Posted 03.27.09
[caption id="attachment_2983" align="alignright" width="438" caption="The storm will pass, but you need to take some cautionary meassures"][/caption] -    You can’t control the way things are going: If your company decides to go in a new direction to save money, and you’re not along for the ride, you’re going to have to make ...continue
Web Resources For Startups
Comments - Posted 03.17.09
This recent article highlighted some of the best resources on the web today for those about to strike forth and launch a startup of their own. As I think I have said before, knowledge is definitely power, and as someone once told me with a wry smile, “if you don’t ...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
Sole Proprietorship: Is It For You?
Comments - Posted 03.12.09
[caption id="attachment_2857" align="alignright" width="248" caption="Do you want to be alone?"][/caption] Are you going to go out and start up all by yourself, or are you going to do it along with somebody? Are you ready for the advantages and disadvantages of running a business by yourself? Running a business, like we’ve said ...continue
Questions to Ask Your Startup Buddy
Comments - Posted 03.11.09
[caption id="attachment_2842" align="alignright" width="177" caption="Friends can turn into worries when starting up together"][/caption] Are you considering starting a business with a friend? Have you both come up with a great startup idea that could change the way you make a living? That’s great! But, you have to think before you act. When ...continue
A Startup Camp For Young Entrepreneurs
Comments - Posted 03.04.09
[caption id="attachment_2771" align="alignright" width="300" caption="Mr. Adeo Ressi"][/caption] The actual role that teaching has in life has been subjected to different treatments. On the one hand, we have some philosophers proclaiming that teaching something to someone is the biggest expression of love and the greatest gift a person can bestow upon another. ...continue
Should The Government Start A VC Fund?
Comments - Posted 02.25.09
What steps can the current Office take when it comes to startups and VC? There are clearly two stances, and some middle ground that is theoretically reachable. One of these stances is discussed right here, and it is the one that says the government should start a VC fund in ...continue