The Startup Farm

How much money should I raise? by Chris Dixon

Wed, 30 Dec 2009 14:58:33 -0500

How much money should I raise? by Chris Dixon

"If it really was a no-brainer to make it on your own in business there’d be millions of no-brained,..."

Sun, 13 Dec 2009 10:26:58 -0500

“If it really was a no-brainer to make it on your own in business there’d be millions of no-brained, harebrained, and otherwise dubiously brained individuals quitting their day jobs and hanging out their own shingles. Nobody would be left to round out the workforce and execute the business plan.”

- Bill Rancic

"The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot..."

Sat, 12 Dec 2009 10:26:57 -0500

“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.”

- Nolan Bushnell

"So, how to protect your ideas in a world where ideas spread? Don’t. Instead, spread them."

Fri, 11 Dec 2009 10:26:00 -0500

“

So, how to protect your ideas in a world where ideas spread?

Don’t.

Instead, spread them.

”

- Seth’s Blog: How to protect your ideas in the digital age (via scottruitt)

Relationships

Thu, 10 Dec 2009 10:25:13 -0500

You should always be asking yourself, what type of relationship do our customers what us to establish and maintain with them? Have you already established relationships but don’t know what to do to maintain them? Ask yourself what it costs to create and maintain those relationships. And, do the relationships fit in with the business or are they distracting you from the real customer?

Perfect? What's that?

Wed, 09 Dec 2009 10:16:42 -0500

Nothing is ever going to be perfect. You have to get the stupid idea out of your head that your website or your pitch has to be perfect. Just get it out there and then you can make changes. Change it every day if you have to but don’t let perfect stop you from launching or starting.

10 skills I look for before writing a check

Mon, 07 Dec 2009 22:26:48 -0500

10 skills I look for before writing a check

"Keep your business simple stupid"

Mon, 07 Dec 2009 22:11:08 -0500

“Keep your business simple stupid”

Growth's illusion

Sun, 29 Nov 2009 21:03:55 -0500

Chasing growth is a big distraction. Beware the desire to grow for growth’s sake. I’m sure for shareholders of publicly traded stock the idea of never-ending growth seems like a fine idea. But when businesses focus on growth they forget about other things. You can’t grow to an enormous size without losing some quality or the connection to your customers along the way. Being bigger doesn’t guarantee that you’ll be more profitable or less likely to fail. Being the owner of a $2M business with 50% margins is so much better than owning a $20M business with 5% margins. Less to manage but with the same result.

Keep costs down

Thu, 19 Nov 2009 16:28:55 -0500

Consider working from your house/apartment to start, especially if you have clients that will never visit you. Keep your expenses down! Working out of a basement for a year (or two) will pay off more than you know. We worked out of a friend’s basement for a year, then graduated to a crappy (but cheap) office. When we finally could afford it we moved to an A grade location. Even when we got there we negotiated for 3 months to get the price down by 50%.

"People mistakenly assume that their thinking is done by their head; it is actually done by the heart..."

Wed, 18 Nov 2009 16:28:52 -0500

“People mistakenly assume that their thinking is done by their head; it is actually done by the heart which first dictates the conclusion, then commands the head to provide the reasoning that will defend it.”

- Anthony de Mello

"Test, test and test. There is no replacement for a bug free experience."

Wed, 18 Nov 2009 10:11:53 -0500

“Test, test and test. There is no replacement for a bug free experience.”

Launch today

Tue, 17 Nov 2009 10:11:24 -0500

Launch everyday. Don’t wait until it’s perfect to put it out in the open. Put whatever you can out there and get people using it as soon as possible.

Fixing $5 haircuts

Mon, 16 Nov 2009 10:08:06 -0500

Your website is your most important marketing and sales tool. Don’t settle for a $5 template and hosting service on this significant element. We get calls every week from people asking for help fixing a crappy website. You wouldn’t arrive at a big meeting in a $5 thread-bear suit from the charity store, would you?

Start, start, start!

Sun, 15 Nov 2009 10:06:57 -0500

If you are starting something new don’t plan a long building period. Create a prototype. Create a first revision. Create something for everyone to see and experience. Design something to start taking money within a few months then you have something to fuel marketing costs with. Having money gives you options and flexibility. That’s a good thing.

Can you walk away?

Sat, 14 Nov 2009 10:05:08 -0500

Be willing to walk away from clients or opportunities that don’t help you move the ball downfield. Easy money has a cost.

Educate and grow

Fri, 13 Nov 2009 10:05:08 -0500

Grow yourself, not just your business. Get educated and adjust as you. Educate the people in your business about where you are going and what you will need to get there. Educate your clients. They need to know what you are good at and how you can help them. Host a webinar or a seminar. Host a party and give a small speech.

Comfort Zones

Thu, 12 Nov 2009 09:19:01 -0500

Never get too comfortable. Success can breed laziness, which takes your eye off the ball. Continuous improvement is a habit. Think about your business like a page that needs editing. Edit every day. Be uncomfortable with being finished.

Startups.com Launches

Wed, 11 Nov 2009 08:46:00 -0500

Looks like the guys at KillerStartups have finally done something interesting with the much prized startups.com URL they bought some time ago. Looking forward to seeing what happens with the site.

"Mike Maples at Maples Investments observes that the quality of pitches from entrepreneurs get better..."

Wed, 11 Nov 2009 08:40:28 -0500

“

Mike Maples at Maples Investments observes that the quality of pitches from entrepreneurs get better as you climb the “Hierarchy of Proof.”

1. On the bottom, and least convincing are statements about your “idea.”
2. Next are hypothesis – “I think customers will care about x or y “
3. Better are facts from customers – “We interviewed 30 customers with 20 questions”
4. Even better is “Customer Validation”– “We just got $50K from a customer” or “we got 100,000 users spending x minutes on our site”
5. Finally if you’re ever so lucky – “Everyone’s buying in droves and we’re here because we need money to scale and execute”

”

- Raising Money Using Customer Development « Steve Blank (via scottruitt)