December 2nd, 2007 by admin
Over the past month as we’ve decided to build a business around this “cool” idea, one word has echoed in my mind: execution. Today, I am adding speed to that list. Speed is important because as a startup, you need feedback early and often. The only way to get that is to get to the market.
Its easy to get misguided about the need to develop a quality product. But the evidence is overwhelmingly supportive of a need for speed.
You ever see the terms “version 1.0, version 1.1, etc.” or “alpha, beta, etc.”? Of course you have. That is evidence of a company who understands the need for speed. Releasing versions, or versioning, is the best way to deliver to the market exactly what they want. Anything else is just plain gambling.
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November 28th, 2007 by admin
Entrepreneurs are ironically alot like everyone else. We want more for our families. We all want more money than we can spend. We all have at least one unfulfilled dream that we wonder about and think how much different life would be if we were to get there somehow. So the difference is not our hopes and dreams.
Entrepreneurs, contrary to some people’s belief, are also just as afraid as anyone else. Many would-be entrepreneurs never get started because they are afraid that they will fail. Coincidentally most of the self-starters that I have met question themselves constantly. In fact, one of the hardest parts for me is to have clear and rational thoughts separate from the fear. Its kinda like walking through a minefield; every step you take that doesn’t kill your project is a small victory to be celebrated but is quickly canceled by the fear of the very next step. So the difference is not our bravery.
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November 15th, 2007 by admin
When I run into budding entrepreneurs these days I get excited for them. They have a great new idea, a whole lot of energy and general sense of urgency. Why? Because they want to get to the market and get there first. I used to have the same urgency about my business ideas until I ran across the phrase, “the early bird gets the worm, but the second mouse gets the cheese.” Now I’m no expert on mice or birds, but that anonymous wisdom was amazingly clear to me that day.
I’ll assume that many of you have heard the first half of that phrase a dozen times. But the real lesson is about the mouse. I don’t need to insult your intelligence by telling you what happens to the first mouse that makes the effort to get the cheese from the trap. In business, that proverbial trap represents an unknown about something or some unchartered market segment. Fortunately for us, the consequences aren’t as harsh as with mousetraps. But they are dangerous and can be very painful.
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