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10 Things to Be Clear About Before You Start a Company
- mildweed 17y agoI wish my friends who always come to me with "ideas for a website" would ask themselves questions like these.
- MicahWedemeyer 17y agoI disagree with the focus on VC funding, but otherwise a solid list of things to consider. I wonder where they get the 90% rate from, and how that matches up with time invested? If you're still plugging away after a couple years, what's the rate then? I would guess there's a big falloff after 6 months or a year, but if you stay in long enough, you have a shot at some kind of success.
- skmurphy 17y agoWilliam Hewlett had 40% and David Packard had 60%, Packard was clearly the "senior partner" when they started, and yet they built an enduring partnership and a company that has acted as a model for many to come after. 50-50 can be a recipe for deadlock in the early stages of a startup. This checklist concentrates too much on financing and not enough on customer and market (I cannot determine if item 5 is about customer demand: it's phrased more as a trend analysis). Raising money is not an accomplishment: it just means you have a high paying job working for one or more VC's for a few years. Finding paying customers you can satisfy at a profit is the key to survival.