SE |AoC Lessons in Entrepreneurship “ Mostly borrowed - but some we know first hand”

1. Make Meaning The only question to ask yourself before starting a new venture: Do I want to make meaning? Meaning - in various shapes & forms: Make the world a better place Increase the quality of life Right a terrible wrong Prevent the end of something good

The only question to ask yourself before starting a new venture: Do I want to make meaning?

Meaning - in various shapes & forms:

Make the world a better place

Increase the quality of life

Right a terrible wrong

Prevent the end of something good

2. Ready. Fire. Aim. Build a prototype, launch a website, start selling your service. Don’t think, just do. If you’re not absolutely embarrassed by your first offering, you waited to long. The hardest thing about getting started is getting started.

Build a prototype, launch a website, start selling your service. Don’t think, just do.

If you’re not absolutely embarrassed by your first offering, you waited to long.

The hardest thing about getting started is getting started.

3. Market The size of a startup’s market is the number, and growth rate, of those customers or users for that product. The #1 startup killer is lack of market.

The size of a startup’s market is the number, and growth rate, of those customers or users for that product.

The #1 startup killer is lack of market.

4. People As any VC will tell you: An A grade team with B grade product > B grade team with A grade product. 2 criteria to value: Drive (self-motivated). Curiosity (do you love what you do).

As any VC will tell you: An A grade team with B grade product > B grade team with A grade product.

2 criteria to value:

Drive (self-motivated).

Curiosity (do you love what you do).

5. Product Good enough is good enough. Don’t wait to develop the perfect product or service. The only thing that matters is getting to product/market fit. i.e. Being in a good market with a product that can satisfy that market.

Good enough is good enough.

Don’t wait to develop the perfect product or service.

The only thing that matters is getting to product/market fit.

i.e. Being in a good market with a product that can satisfy that market.

FAQ Should I share my secret? I think I have a great idea? How do you know if it’s time to give up?

Should I share my secret?

I think I have a great idea?

How do you know if it’s time to give up?

Should I share my secret? Yes. If you’re idea is that revolutionary, you’ll have to shove it down people’s throats . There is much more to gain – feedback, connections, opened doors – by freely discussing your ideas than there is to lose. If simply discussing your idea makes it indefensible, you don’t have much of an idea in the first place.

Yes. If you’re idea is that revolutionary, you’ll have to shove it down people’s throats .

There is much more to gain – feedback, connections, opened doors – by freely discussing your ideas than there is to lose.

If simply discussing your idea makes it indefensible, you don’t have much of an idea in the first place.

I think I have a great idea? You don’t. Ideas have no value . It is the work you put into them, the heavy lifting behind them... First question: Can you implement it? If no – find someone who can. If yes – do so.

You don’t. Ideas have no value . It is the work you put into them, the heavy lifting behind them...

First question: Can you implement it?

If no – find someone who can.

If yes – do so.

How do you know if it’s time to give up? It’s okay to fail as long as you try again. There’s no such thing as failing; only winning and learning. A tough question. Good entrepreneurs never give up. But the best ones know a dead horse when they see one.

It’s okay to fail as long as you try again.

There’s no such thing as failing; only winning and learning.

A tough question. Good entrepreneurs never give up. But the best ones know a dead horse when they see one.

See Guy Kawasaki’s ‘Art of the Start’ manifesto : http://www.changethis.com/1.ArtOfTheStart and/or talk : http://blog.guykawasaki.com/2006/06/the_art_of_the_.html Insights on Markets, Products, and Teams, sourced from: http://blog.pmarca.com And www.gapingvoid.com for the cartoons !

See Guy Kawasaki’s ‘Art of the Start’ manifesto :

http://www.changethis.com/1.ArtOfTheStart

and/or talk :

http://blog.guykawasaki.com/2006/06/the_art_of_the_.html

Insights on Markets, Products, and Teams, sourced from: http://blog.pmarca.com

And www.gapingvoid.com for the cartoons !