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Best & Worst Decisions Starting Companies

Posted by kdawson on from the if-i-had-it-to-do-over-again dept.

markfletcher writes "Today I launched a new site, Startupping, dedicated to helping Internet entrepreneurs. For the launch I asked several successful entrepreneurs about lessons they learned starting and running Internet companies. The first set of replies includes responses from Paul Graham, John Battelle, Chris Pirillo, Ross Mayfield, and Dick Costolo."

3 of 127 comments (clear)

  1. Other Startup Sites by janneH · · Score: 4, Interesting

    A bit off topic maybe, but anyone know of good sites for more general startup help - that includes non-internet companies? A place to discuss contract terms, get recommendations for legal help, advice on whether to go LLC or C-corp - or one of the million other questions that come up.

  2. Re:And i-bullshit too! by oliderid · · Score: 4, Interesting


    What truly matters for a start-up is the team behind the business plan.
    I can easily hire a good consultant to write the business plan (and I did it once). I will add a nice SWAT chapter, a competition review (based on a Jupiter analysis), 3 years projection (with 3 different projections: pessismitic, break-en, optimistic) and so on...You know that they expect a break even on the first year and a 120% ROI on the second year? Well simply change your Excel sheet.

    Investors (at least experienced ones) know that the reality will be different from your business plan. It will just help you to structure your ideas and nothing more.

    So what they are truly looking for is a team. Personnalities, experiences, motivation, etc..
    And of course the idea.

    If you want to be a CEO...You have to prove your leadership and your ability to convince the right people to join your boat, (or at least be ready to join in once there are some money). Otherwise you will remain a brilliant isolated inventor/engineer/salesman...

    IMHO 70% for the team, 30% for the idea/product/service/whatever.

    This was my biggest mistake. And my biggest success was to recognize it :-)

    Olivier

  3. Founders at work by Neme$y$ · · Score: 5, Interesting

    For a in-depth look at some of the secrets for a succesful start-up, Founders at Work: Stories of Startups' Early Days might serve as an interesting read.

    It features interviews with Steve Wozniak (Apple), Caterina Fake (Flickr), Mitch Kapor (Lotus), Max Levchin (PayPal), and Sabeer Bhatia (Hotmail).

    I haven't purchased the book myself, but I'm getting one as soon as I can to help me with my own startup initiatives.

    Quote: All the best things that I did at Apple came from (a) not having money and (b) not having done it before, ever. Every single thing that we came out with that was really great, I'd never once done that thing in my life. --Steve Wozniak, founder of Apple, page 36

    --
    "I've got a plan so cunning you could put a tail on it and call it a weasel"