Se|AoC Entrepreneurship Lessons

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Se|AoC Entrepreneurship Lessons

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Se|AoC Entrepreneurship Lessons

  1. 1. SE |AoC Lessons in Entrepreneurship “ Mostly borrowed - but some we know first hand”
  2. 2. 1. Make Meaning <ul><li>The only question to ask yourself before starting a new venture: Do I want to make meaning? </li></ul><ul><li>Meaning - in various shapes & forms: </li></ul><ul><li>Make the world a better place </li></ul><ul><li>Increase the quality of life </li></ul><ul><li>Right a terrible wrong </li></ul><ul><li>Prevent the end of something good </li></ul>
  3. 3. 2. Ready. Fire. Aim. <ul><li>Build a prototype, launch a website, start selling your service. Don’t think, just do. </li></ul><ul><li>If you’re not absolutely embarrassed by your first offering, you waited to long. </li></ul><ul><li>The hardest thing about getting started is getting started. </li></ul>
  4. 4. 3. Market <ul><li>The size of a startup’s market is the number, and growth rate, of those customers or users for that product. </li></ul><ul><li>The #1 startup killer is lack of market. </li></ul>
  5. 5. 4. People <ul><li>As any VC will tell you: An A grade team with B grade product > B grade team with A grade product. </li></ul><ul><li>2 criteria to value: </li></ul><ul><li>Drive (self-motivated). </li></ul><ul><li>Curiosity (do you love what you do). </li></ul>
  6. 6. 5. Product <ul><li>Good enough is good enough. </li></ul><ul><li>Don’t wait to develop the perfect product or service. </li></ul><ul><li>The only thing that matters is getting to product/market fit. </li></ul><ul><li>i.e. Being in a good market with a product that can satisfy that market. </li></ul>
  7. 7. FAQ <ul><li>Should I share my secret? </li></ul><ul><li>I think I have a great idea? </li></ul><ul><li>How do you know if it’s time to give up? </li></ul>
  8. 8. Should I share my secret? <ul><li>Yes. If you’re idea is that revolutionary, you’ll have to shove it down people’s throats . </li></ul><ul><li>There is much more to gain – feedback, connections, opened doors – by freely discussing your ideas than there is to lose. </li></ul><ul><li>If simply discussing your idea makes it indefensible, you don’t have much of an idea in the first place. </li></ul>
  9. 9. I think I have a great idea? <ul><li>You don’t. Ideas have no value . It is the work you put into them, the heavy lifting behind them... </li></ul><ul><li>First question: Can you implement it? </li></ul><ul><li>If no – find someone who can. </li></ul><ul><li>If yes – do so. </li></ul>
  10. 10. How do you know if it’s time to give up? <ul><li>It’s okay to fail as long as you try again. </li></ul><ul><li>There’s no such thing as failing; only winning and learning. </li></ul><ul><li>A tough question. Good entrepreneurs never give up. But the best ones know a dead horse when they see one. </li></ul>
  11. 11. <ul><li>See Guy Kawasaki’s ‘Art of the Start’ manifesto : </li></ul><ul><li>http://www.changethis.com/1.ArtOfTheStart </li></ul><ul><li>and/or talk : </li></ul><ul><li>http://blog.guykawasaki.com/2006/06/the_art_of_the_.html </li></ul><ul><li>Insights on Markets, Products, and Teams, sourced from: http://blog.pmarca.com </li></ul><ul><li>And www.gapingvoid.com for the cartoons ! </li></ul>

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