Whilst spending time with my newborn son in the last 48 hours, I realized that it's possible to draw a lot of comparisons between how founders act within their startups and how parents do with their newborn babies. The one comparison that particularly jumped out at me, is how new
First time here? Start with the hits:
If you're validating your (startup) idea, this is the ultimate method.
Because it's a rollercoaster-like life as an entrepreneur.
Every sale and every relationship with a customer starts with you helping them.
Pressing pause on a startup is the hardest thing I've ever done.
The Lean Startup approach to creating new business has become massively popular amongst online entrepreneurs for one reason: it works. The Lean Startup methodology with regards to customer development (broadly) dictates that we can create better products (and thus business) through continuous learning via being in constant contact with our
Everyone is working to hard. I include myself in that statement: I work too hard most of the time. Heck, in my average week I make compromises with regards to my health, my home life, my marriage and all of my friendships. All for the sake of working harder. But
Many of you don't know this, but I actually have a Honours degree in (traditional) management accounting & business strategy (yep, I studied to be an accountant before my own business started taking off). And whilst I'm not actively practicing the skills I picked up during my student years, I
I'd add "it takes money to make money".If you can't de-risk such an early stage startup, then we're basically talking about gambling to some extent. Yes social proof works well and gut feel (based on experience) works too, but many of these type of investments won't work out.
Andrew talks about all of the initial mistakes they made at Groupon. Found it funny and enlightening!Watch the rest of the Startup School presentations here too.