This slide deck is from a 20-minute talk I gave to the Founders Institute launch this week. I told a few hard knock stories about my own start-up experiences and from other startups I advise and mentor from time to time.
The main takeaways are:
- ideas are fine, but its’ the execution of the idea that matters
- allow your brain to declutter, so ideas come (in the car, bathroom, on the plane)
- don’t fall in love with your product, fall in love with your client
- work out who your client is (hint: they are the ones paying you money)
- if you’re not solving a problem for your client, you won’t create value for them, and won’t be able to charge them anything (so won’t be in business for long)
- startups are easy (because you’re buying things), selling things is harder (but without sales, you’re dead)
- build a great team of people who (a) genuinely want to help the clients and (b) are willing to learn
- it’s never the technology/marketing/strategy…, it’s always about the people in your team
- don’t bet the bank… use a lean startup approach because opportunities present themselves just by being out there, so be prepared to pivot
- keep calm when under pressure… losing your cool only gets your blood pressure up, and you’ll still have the same problem in 5 minutes time
I hope they prove useful for anyone contemplating starting up a tech business (or any really). They worked (and still work) for me.
What do you reckon…?