So the boxes are mostly unpacked, I have a new driver’s license and keys to the new office. About time to get back in the blogging saddle.
A new disclosure: I’ve invested in Seesmic, a Web video company that in my view has the potential to take conversational online video to a new level. The company’s founder, Loic LeMeur, is a friend and a top European Internet entrepreneur.
He has 10 rules for startup success, which I’m reprinting below:
- Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible
- Share your idea. The more you share, the more you get advice and the more you learn. Meet and talk to your competitors.
- Build a community. Use blogging and social software to make sure people hear about you.
- Listen to your community. Answer questions and build your product with their feedback.
- Gather a great team. Select those with very different skills from you. Look for people who are better than you.
- Be the first to recognise a problem. Everyone makes mistakes. Address the issue in public, learn about and correct it.
- Don’t spend time on market research. Launch test versions as early as possible. Keep improving the product in the open.
- Don’t obsess over spreadsheet business plans. They are not going to turn out as you predict, in any case.
- Don’t plan a big marketing effort. It’s much more important and powerful that your community loves the product.
- Don’t focus on getting rich. Focus on your users. Money is a consequence of success, not a goal.
Great stuff, and I hope my new students will take it to heart.