Everything About Startups in Ten Bullet Points . . . Really!

By Jay Shifley

 

  • Cool products do not make a business. Solutions to problems do.
  • Life is too short to spend time and money on a cool product no one wants.
  • Risk is necessary, but can be minimized
  • Early adopters are key to measuring the success of your solution.
  • Fund raising isn't necessary until you know that your solution works.
  • Your startup model will normally go through several iterations before you find something that works.
  • It's not your customers' job to tell you what they want, it is your job to discover what they want.
  • Your customers don't set your prices, you do.
  • Design a minimum viable product (MVP) and test it. If it doesn't sell, tweak it, redesign it, or abandon it.
  • The goal of your business model is not to get it right the first time, but to discover a way to make money by solving a problem before you run out of resources. Most businesses go through several iterations before getting it right.

 

Originally written: January 2, 2017
Keywords: startups

 

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