Monday, September 21, 2009

The 3 Most Important Things You Need for a Startup (and one of them is not money)

Having lived in the Bay Area for over a year, I've been exposed to more people who have been part of startups (mostly failed).

This article nicely summarized a Meebo founder's take on making it past early startup phase:
  • a great startup team (< 4 people)
  • just get your product out the door
  • get a good mentor
While I haven't taken the plunge on an early startup, I can say that some part of me resonated with:

"No office. No phone system. No hiring. No press. No legal muck. No raising money. No looking for partnerships (who’s going to partner with you anyway?). The success or failure of the adoption of your product is what will create 99% of the initial value of your company. If no one ever uses your product, you have no value"

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