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10 key things about startup, you will learn in the street
The ten key things and street-sign analogy are summarized below.
(1) Rush ID/passport ==> MVP
*sense of urgency to deliver the MVP
*ask if what you are doing is really the MVP?
*think of the most minimum possible way to validate your product with your target market
(2) No drunk driving ==> Focus
*Do one idea at a time.
*Had to prioritize PinoyTravel over RideIn,as a strategic decision.
(3) No Loading/Unloading zone ==> Keep moving forward
*don't be trapped; Don't cause traffic.
*do something everyday
*Apply the principle of compound effect; geometric progression.
(4) Telco FB packages ==> You don't really need a marketing partner at this stage.
*Try doing it on your own first
*make the most of social media; We are the social capital of the world.
(5) Money Changer ==> Value.
*In the end, startups is all about value.
*If you provide value to others, money will follow.
(6) For Lease ==> Leverage
*Make the most of what you have.
*There are a lot of people willing to help you along the way. Ask and it will be given.
*This is the same principle why network marketers succeed.
They perfected the principle of using OPR/M (Other People's Resources/Money)
(7) Victoria court ==> Balance
*putting a positive meaning to the sign, it means maintaining balance.
*you are not a mutant or a superhero. Get enough rest.
In the end, it will make you more productive.
(8) Men at Work ==> Build the right team
*Build the rigth team. Those that are ready to do overnights.
*This is hard and very important.
(9) Stop.Look.Listen ==> Be humble
*this is particularly important if you're part of incubation program such as Ideaspace.
*you don't know everything yet. Listen and be open for new learnings. And unlearn also along the way.
(10) Go/green traffic signal ==> Actions with Passion.
*don't believe everything that i just said.
*The best way to learn about startup, is to get out on the street, and learn from it.
*It is your fire. The passion that will propel you to take actions.
*Get it from your heart and it will be sustainable.
Wrap-up: (last slide)
My wish is to see your startup in the near future as "Now Open" also.