Thursday, July 16, 2009

Ten Tips for Successful Entrepreneurs

Ok, I've become lazy in my posts but this is an excellent bit that was forwarded to me by my new friend Jana Matthews. For those of you who know Jana, you know what a smart, passionate, and caring person she is and I value her input on the startup game. More posts to come on that peculiar rider and vehicle, the entrepreneur and startup. This one offers good insights that you can use immediately to evaluate behavior in your own startup and the threshold to post was so low that it offered a great way to get back in the game.

I just ran across some notes from a session where Guy Kawasaki and I spoke in Cambridge, England on 9/11/2001! Think about them in the context of your own company.

Ten Tips for Successful Entrepreneurs
  1. Jump curves or create the next curve. Keep moving.
  2. “Don’t worry; be crappy” In other words, ship, test, and keep improving. It’s OK if you’re 10X better than what is. You don’t need to be 100X better, e.g., bad toilet paper is still a lot better than crumpled leaves.
  3. “Churn baby churn.” Do versions 1.0, 2.0 3.0, X.0. Do R&D and continual product improvement
  4. Break down barriers – enable people to test drive your product or service sooner, rather than later
  5. Evangelize – don’t just sell. Show that what you have to offer is in their “best interest “. Show how it will make the world a “better place”. Capture their heart and head. It’s better to legitimize the revolution than to win the battle. Better to legitimize the web than to win market share on the internet.
  6. Let 1000 flowers bloom. Think of the many applications of your concept
  7. Eat like a bird; poop like an elephant. Birds eat 50% of their weight every day. Be a voracious eater of information
  8. Think digital; act analog
  9. Never ask people (consumers or customers) to do what you would not do yourself
  10. Don’t let the bozos grind you down. Don’t give up. [“ Bozocity” often happens when someone has been successful in one curve, gets stuck, and finds it impossible to move to the next curve (or find value in your new product or idea)].

I hope you find these Ten Tips useful.
Jana B. Matthews
Chief Executive Officer
The Jana Matthews Group

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