I know everyone is watching, reading, following @sama course how to start a startup. I am keeping this notes for myself, if it helps someone else good karma gets added on me. 🙂
Lecture 1: Welcome, and Ideas, Products, Teams and Execution Part I
- Don’t build a startup for money, join a startup at early stage & get rewarded.
- Most successful startups came out fixing real world problems ex- airbnb, uber.
- Idea comes first & startup second.
- If you have too many ideas pick one of them & give your best to it.
- Get into mission oriented ideas.
- Build a product, company next, PR/Press/VC will follow next.
- Get a small group of users who love your product rather than 1000 others who just likes it.
- At early stage spend most on word to mouth, get referenceable customers.
- Don’t worry about competitors & all the buzz they are getting around press/VC other circuits.
- Go for a smaller, unique market, find a problem solve it & become the market leader. The growth rate will be much higher.
- Do not copy an existing idea unless you have some value add on it & will address a specific problem which was missed out on initial product.