Tips from the TechStars WarRoom
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This document provides tips for startups from TechStars. It recommends having passion for your work, finding a partner and mentors, talking to customers before building, creating a minimum viable product and iterating quickly, executing effectively, tracking metrics and goals, focusing on revenue, hiring the right people and culture, aligning incentives, striving for balance while working hard, developing a rhythm, and being unique in communications. Key books referenced include Steve Blank, Do More Faster, Jim Collins, Fred Wilson's Minimum Viable Personality, and Mastering the Rockefeller Habits.
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Tips from the TechStars WarRoom
- 1. Tips from the TechStars WarRoom Nicole Glaros @nglaros nicole@techstars.com
- 2. Passion Have Passion (you’ll never work a day in your life)
- 4. Be intellectually honest Read Do More Faster!
- 5. Find a partner They’re as important as finding your spouse
- 7. Have Trust & Talk about your biz
- 8. Talk to potential customers BEFORE you build!
- 9. Beta! Build a Minimum Viable Product
- 10. AGAIN!
- 11. AGAIN! Learn how to effectively and QUICKLY communicate the value of your product
- 12. Execute. Execute. Execute. Entrepreneurs build stuff!
- 13. Read Fred Wilson’s Minimum Viable Personality
- 14. Track Metrics & Set Goals
- 15. Don’t forget to SELL SELL SELL! Revenue. Is. Everything.
- 16. Get the right people on the bus (and read Jim Collins)
- 17. Care about culture and hire slow, fire fast
- 18. Align Incentives of everyone in the company
- 19. Balance - strive for it. (but work your tail off)
- 20. Develop a rhythm (and read Do More Faster & Mastering the Rockefeller Habits
- 21. Be unique and follow up 100% of the time
Editor's Notes
- \n
- What do you love to do? Once you find your passion, you'll never work a day in your life.\n
- Jim Collins, author of good t0 great\n\n1. What are you deeply passionate about?\n2. What are you genetically encoded for — what activities do you feel just “made to do”?\n3. What makes economic sense — what can you make a living at?\n
- Be intellectually honest. Know what you're good at, and what you suck at. Leverage the stuff you're good at, find people who have strengths in the stuff you suck at. \n
- Find a partner. Your compliment. Not you, but your better half. \nThis relationship is as important as a marriage. Dont' make the wrong choice or you'll fuck up your company.\n
- \nBuild a mentorset\nExecute like mad\nDon't expect balance\nDon't expect compensation\nTrust people\nFollow-up, 100% of the time\n\nGive Back.\n
- \nTrust people\n
- Customer development\n
- Build an MVP\n
- Customer development\n
- Effectively communicate your value proposition. Learn how to pitch your business. Why should we give a shit?\n
- Build build build. \nExecute like mad.\n
- Have personality!\n\nMinimum viable personality rules apply.\n\nhttp://www.avc.com/a_vc/2011/09/minimum-viable-personality.html\n
- Know your metrics, and which ones matter.\nSet goals. \n
- Sell Sell Sell! \n\nDon't fall into the 'if we build it, they will come" trap. Know how you're going to sell it.\n
- Get the right people, on the bus, in the right seats.\n
- Build your culture.\nhire slow, fire fast.\n
- Align incentives.\n
- Don't expect balance at first.\nbut always seek it. Strive for it.\n
- develop a rhythm\n
- Follow up - 100% of the time\n
- Give back!\n