December 03, 2007

The idea does not count only execution matters: 10 rules to launch a startup today

I have 10 rules to launch a startup these days that I am writing as bullet points for a Financial Times story, I explained them briefly in video at the last Google Zeitgeist Europe too, will detail this post later.

1- do not wait for a revolutionary idea, the idea of your life will never happen, just focus on a simple exciting empty space you see and execute as fast as possible
2- share your idea as much as possible, the more you share, the more you get advice and the more you learn. Meet and talk to your competitors.
3- build a community around you through blogging and social software
4- listen to your community, answer questions and build your product with their feedback, involve bloggers as early as possible and get their feedback, if negative, adapt your product permanently
5- gather a great team with a very different skill set than yours, look for people who are better than you without being afraid of it
6- be the first to recognize a problem or a mistake you have made. Never hide it behind the carpet. Address the issue in public, learn and correct it.
7- do not spend time on market research, but launch as early as possible in alpha or beta versions. Keep improving the product in the open.
8- do not focus on a large spreadsheet business plan, you are so sure it is not going to happen anyway
9- do not plan huge marketing, growing with your community loving the product is much more powerful
10- do not focus on getting rich or selling your company, focus on your users, money is a consequence of success, can't be a goal

Excellent advice - many thanks Loic! Simplifies and focuses a lot of things!

Simon Young, December 03, 2007 at 03:17

Superb advice, Loic. And anyone who doesn't get what you're talking about need look no further than your thoroughly transparent and community-focused efforts in building Seesmic!

Cathy Brooks, December 03, 2007 at 03:27

Well put. That deserves a stumble. :)

Joshua James, December 03, 2007 at 04:19

Yep Loïc, completely agree! Thanx for the good advice.
Your new office rocks :) Kind of PIMP office :)

Jeff Heubo, December 03, 2007 at 04:51

Great advice Loic. Which would you say are the most difficult to follow in your experience?

Eric Gonzalez, December 03, 2007 at 05:22

Right on the money Loic.

I would also add

"Keep things SIMPLE and LEARN as you go"

-E

Eric Amblard, December 03, 2007 at 06:36

This just resonates truth.

Jeff Turner, December 03, 2007 at 07:04

Great stuff Loic, thank you for posting exactly what I needed to be reminded of while also working on a "simple exciting empty space".
Now, if I could get the chance to "share my idea as much as possible" on seesmic too... ;-)

Jean-Marie Moës, December 03, 2007 at 09:16

@Jean-Marie Moës: That's a good way to ask an invit' JM :-)Well done!Come on Loic get him one ;-)

Jeff Heubo, December 03, 2007 at 11:23

@Jeff Heubo: Speaking of invitations, I'd be pleased if you'd accept my request from 5 minutes ago to follow you on Twitter. An alpha/beta tester at heart, I'd love to be one of Dringg's early adopters as well ;-)

Jean-Marie Moës, December 03, 2007 at 12:48

@Jeff Heubo: Btw, almost forgot to thank you for your support, shame on me :-(

Jean-Marie Moës, December 03, 2007 at 13:39

Great stuff. I would go even further and say these rules not only apply to startups but to any established company and/or project.

Matthias Lüfkens, December 05, 2007 at 09:59

Great advice for starting a company. You have captured a great deal of truth. It is interesting that FT’s reporter twice recast your list as general rules for "success in business," which is a much wider scope. I guess this is your point: talk trumps ideas.

Richard Rowan, December 05, 2007 at 15:14

Thanks, just the simple reminders I needed.

Cathy, December 05, 2007 at 21:52

What about working on a problem or in a domain which you're passionate about? Is this a given? With all the advice and input you get it's entirely possible to be drawn in a direction you may not care about as much -- do you do it anyway? Is passion for the problem a nice-to-have or a necessity?

Rob, December 11, 2007 at 07:53

What? You're kidding - this is NOT good advice. Don't listen to anyone that says not to validate a market or prepare a business plan. If you think you're going to take your idea and make it into a product without planning out the marketing and strategy, YOU'RE crazy! I don't like this advice at all.

row_01, December 12, 2007 at 00:27

Great Article. A passion is a definate need for a startup. But to many people fail for not having a proper business and marketing plan. Have one executed so that you may refer back to . What works what doesn't work.

Thanks

Megan
http://www.PassportMentors.com

Megan, December 26, 2007 at 12:29

This blog goes great with my new years resolutions post, "How Resolutions Will Save AND MAKE You Money". (http://shauna26.wordpress.com/2007/12/26/how-resolutions-will-save-and-make-you-money/)
I've put a link to your article in my post. Thanks!

Best of luck to the start ups of 2008!

Shauna

www.shauna26.wordpress.com

Shauna, December 26, 2007 at 16:33

Has anyone here actually read what the author wrote?

The advice is BAD. Most of these rules are a formula for failure. Rush in without thinking, don't do testing and research and the new business will be gone faster than you believe possible.

I've had several businesses and my own experience has shown everything the errors here. Plan, test, think. Go slowly. Your business is gone when the money is gone!

Mr. Business, December 26, 2007 at 21:21

Loic, a lot of good tips here. I thinking having a plan can be important but I have seen just as many bizs fail with or without a formal plan.

Tyler
http://tylertalksmoney.com

Tyler, January 21, 2008 at 01:47

Last advice was striking.. Truth fact in 10 sentance.. Great..

Jyothish Ozhakkal, January 21, 2008 at 10:59

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Welcome to my blog. Based in San Francisco, I am an entrepreneur and a blogger. I just started my fifth startup, Seesmic, a community driven video social software. Here is what TechCrunch says about it.

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