I made something people want By Paul Pajo

Startups in 13 sentences From Paul Graham’s Essay – Startups in 13 sentences I usually send this to people who want to know what a startup is http://paulgraham.com/13sentences.html INC.Com recently had an article about Y Combinator – launched 145 companies since 2005

From Paul Graham’s Essay – Startups in 13 sentences

I usually send this to people who want to know what a startup is

http://paulgraham.com/13sentences.html

INC.Com recently had an article about Y Combinator – launched 145 companies since 2005

A New Paradigm What do you want to be?

8 out of 10 businesses fail within 2 years of incorporation How do you feel after reading this statement?

Don’t let the rat race bleed entrepreneurship out of you If you get burned out before you even started, it might be hard to get back to the starting line

1. Pick good co-founders Good to Great principle – who will be the people in the bus

2. Launch Fast A reason to engage users You start learning immediately

A reason to engage users

You start learning immediately

3. Let your idea evolve PayPal wasn’t originally about payment Pivot, Pivot, Pivot

PayPal wasn’t originally about payment

Pivot, Pivot, Pivot

4. Understand Users Make something people want I made something people want

Make something people want

I made something people want

5. Better to make a few users love you than a lot ambivalent 1,000 fans from kk.org (Techmium) Something in between the “head” and the “long tail”

1,000 fans from kk.org (Techmium)

Something in between the “head” and the “long tail”

6. Offer surprisingly good customer service In a sea of mediocrity, it takes so little to stand out At the onset, it SHOULDN’T Scale

In a sea of mediocrity, it takes so little to stand out

At the onset, it SHOULDN’T Scale

7. You make what you measure What you measure, motivates you When people KNOW they are being measured, they up the ante

What you measure, motivates you

When people KNOW they are being measured, they up the ante

8. Spend little What is your burn rate? Don’t run out of money The cheaper you can do this the MORE you can iterate

What is your burn rate?

Don’t run out of money

The cheaper you can do this the MORE you can iterate

9. Get Ramen Profitable Important Milestone “You make just enough to pay for the founder’s living expenses”

Important Milestone

“You make just enough to pay for the founder’s living expenses”

10. Avoid distractions Day Jobs/Consulting/Side Projects Give your startup a chance – carve some time

Day Jobs/Consulting/Side Projects

Give your startup a chance – carve some time

11. Don’t get demoralized That’s why you need a co-founder Pivot, Pivot, Pivot

That’s why you need a co-founder

Pivot, Pivot, Pivot

12. Deals Fall Through Background processes Don’t let your morale depend on it

Background processes

Don’t let your morale depend on it