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Advice for High Tech Startup Entrepeneurs

Advice for High Tech Startup Entrepeneurs

Here is another page that is related on how to startup a high tech company, how to cut-corners and avoid pitfalls. Adam Sah has posted a must-read book list, followed by a list of advices which has some soild information in it. Here are the summaries:

  1. project, product, company. When deciding to start a company, decide if your NBT (next big thing) is a project, a product or a company.
  2. product development. Don’t over-invest in the product without solid feedback from the market (target customers– people who’d buy your product and pay-enough for it). Also, it’s a mistake to hire proddevs who don’t know how to cut corners– ideally, you want people who are eager to “do it the right way” when the company gets established, but take equal pleasure in cutting corners like crazy, yet still ship something usable.
  3. startup experience counts. There are now lots of people who’ve had success in startups. You should focus hiring on people who’ve been in successful startups, ideally several of them (!). Of Addamark’s first 10 employees, the average was 4 startups, and 2 successes; the executive team was 10 for 13 in the previous decade, i.e. before the bubble– and people had heard of these companies and products.
  4. what to outsource. Outsource legal, HR and as much of IT as you can (e.g. email, mailing lists, etc.). Don’t outsource proddev, busdev or marketing/strategy– these areas have big ramp-ups, and consultants will each make the same early mistakes.
  5. ignore dilution. Quite apart from the math, “winning is funner than losing” and winners look better on your resume (which leads to better comp packages). Life is short– focus on winning.
  6. busdev, not sales. Good business development folks can help define the product, and find markets for it– and oftentimes, the first market for a new product or technology is pretty exotic.
  7. early VC fundraising. Fundraising is a form of sales– understand your customers inside and out, and treat the whole thing like a sales pipeline.
  8. angel fundraising. Money is money, so take angel fundraising seriously — think of it as a form of sales, i.e. pipeline management.
  9. recruiting. Recruiting is another form of sales, and there’s an art to it.
  10. corporate structure and capitalization. It pains me to see great products and technologies floundering in companies that aren’t viable.
  11. revenue management. Once the product is “sellable” and the company “viable,” the next thing you need is professional revenue management, aka “sales management.”

Go to his page and read through all of the details on those points.

Adam’s Advice and Reading List for High Tech Startup Entrepeneurs – [Adam Sah]
Related resouces:
How to start a Start-up
From Start-Up to Success in Internet Years


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      Last Updated on October 9, 2018

      How to Write a Personal Mission Statement to Ensure Peak Productivity

      How to Write a Personal Mission Statement to Ensure Peak Productivity

      Most of you made personal, one sentence resolutions like “I want to lose weight” or “I vow to go back to school.” It is a tradition to start the New Year with things you want to achieve, but under the influence resolutions are often unrealistic.

      If you’re wondering when will be a good time to write a mission statement, NOW is the time to take a personal inventory to make this year your most productive year ever. You may be asking yourself, “How am I going to do that?” You, my friends, are going to write personal mission statements.

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      A large number of corporations use mission statements to define the purpose of the company’s existence. Sony wants to “become the company most known for changing the worldwide poor-quality image of Japanese products” and 3M wants “to solve unsolved problems innovatively”. A personal mission statement is different than a corporate mission statement, but the fundamentals are the same.

      So why do you need one? A personal statement will help you identify your core values and beliefs in one fluid tapestry of content that you can read anytime and anywhere to stay on task toward success.

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      For example, Tom Cruise in Jerry Maguire came to the realization that he had lost track of what was important to him. After writing a personal mission statement, we saw him start his own business and he got the girl, Renee Zelleweger. Not bad, wouldn’t you say? A personal mission statement will make sure that, through all the texting, emailing and constant bombardment of on-the-go activity, you won’t lose sight of what is most important to you.

      Mission statements can be simple and concise while others are longer and filled with detail. The length of your personal mission statement will not be determined until you follow this simple equation to create your motivational springboard for 2008.

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      To begin your internal cleansing, you will need to jot down the required information in the following five steps:

      1. What are your values? Values steer your actions and determine where you spend time, energy, and most importantly, money. Be specific and unique to yourself. Too much generalization will not be as effective. It is called a “personal” mission statement for a reason.
      2. What are three important goals you hope to achieve this year? Keep your list of important goals small and give them a date. It is better to focus on the horizon and not the stars. Realistic goals are keys to ultimate success.
      3. What image do you hope to project to yourself? How you see yourself is how the world will view you. Think about this carefully. Your image should encompass what you look like and feel after you have achieved your goals.
      4. Write down action statements from each value describing how you will use those values to achieve your three goals. Start with “I will…”
      5. Rewrite your statement to include only your action statements. Make portable copies for your wallet, car or office.

      If you followed the steps above, congratulations! You have just written your first personal mission statement. Your personal statement will change over the years as your goals change. You can have more than one statement for the different compartments of your life such as your career, family, marriage, etc.

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      Writing a personal mission statement is an effective method to ensure your productivity is at its peak. It is an ideal tradition to start so that when next year rolls around, the outdated practice of resolutions will be something you permanently left in the past.

      Featured photo credit: Álvaro Serrano via unsplash.com

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