9 things about startups i learned the hard way
DESCRIPTION
Seminar given at DISI, Trento, Apr. 2014 (course on Science, Technology & Business)TRANSCRIPT
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U-Hopper
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If you have a hammer, everything looks like a nail
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Rule #1: It’s the problem, stupid!
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“People don’t know what they want until you show it to them”
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Rule #2: Listen (to your customers)
● You don’t know the problem● Your customers do● You listen to them
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“Art is 1% inspiration, 99% transpiration”
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Rule #3: Hard is not enough
You don’t realize how much free time you have until you build your own startup
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Rule #4: Focus
Don’t attempt doing more than 3 things at a time
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Rule #5: every startup is a team
● No individual success in company failure● No individual failure in company success
● You need to learn how to work in teams● You need to learn how to manage a team
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Rule #6: demo or die
Anything can be demonstrated
If you can’t demonstrate what you are doing, you haven’t done anything
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Rule #7: Make revenues
“we are not making any revenue, but we are a startup so that’s ok”
Not focusing on making revenues is not a strategy
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“Profit is Queen, but cash is King”
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Rule #8: Know the financials
● Startups fail when they run out of money○ Not going to discuss why they run out of money
● You need to understand the financials● Don’t leave it to the CFO
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Rule #9: accept failure
● Do your best, try hard● Fail● Do even better, try harder● Fail again● Never give up!
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Rule #10: Get out of the building
Get out of your comfort zone, that’s where the interesting things happen