Category: Startup

High IQ will kill your startup

http://www.jamiebegin.com/high-iq-will-kill-startup/

Being intelligent is like having a knife. If you train every day in using the knife, you will be invincible. If you think that just having a knife will make you win any battle you fight, then you will fail. This believe in your own inherent ability is what will kill your startup. Success comes from the work and ability you put in becoming better than the others, and not from some brilliance you feel you may have within you.

So don’t believe that the brilliance of your idea is what will make you successful. What will make you successful is when you are out there every day, doing something new, challenging yourself, trying new methods, studying new ways, having a lot of small failures, then getting better every day.

Taking your pitch from mediocre to memorable

….

We talked about what technology had made available at that point that hadn’t been possible in years before. We talked about how we’re a family entertainment company first and foremost, versus a technology company. We wanted to tell the story about building a product so in-sync with families’ needs and behaviors that the technology would fade into the background.”

You have to make them believe how much you believe in it, and how much you want to go on that journey with them — even if neither of you knows how big it can get,” Jacob says. “When you’re in pitches you should make your case not to raise money but because you’re so excited about what you could possibly accomplish.
Read more: http://firstround.com/article/Tell-Stories-Like-This-to-Take-Your-Fundraising-Pitch-from-Mediocre-to-Memorable

Startup by an IB chap

http://pandodaily.com/2013/08/11/why-i-gave-up-a-cushy-job-in-investment-banking-to-launch-a-startup/

Excerpts

Nik Wallenda, the tightrope walker who recently crossed the Grand Canyon (while wearing his finest pair of bell-bottom jeans), said he doesn’t use a net because it provides a false sense of security, and that it’s been proven that tightrope walkers who have the net are more likely to fall.

While the prototypes we’ve built could be replicated faster by someone more experienced, in aggregate we likely would have burned more time (and definitely more money) because we would have built more feature-heavy prototypes. With Paul operating as a one-man coding team, we don’t have the luxury to build stuff people don’t want.

I sometimes feel as though I’m drowning in abstract tasks that are indefinite and ongoing. While I’ll lament about the menial tasks that creep onto my to-do list – respond to e-mails, handle accounting (pretty easy – what’s 30% of $0 revenue?), pay bills, etc. – these completable chores are a guilty pleasure.

Innovation – Fourth quadrant

Innovation – Fourth quadrant

– By Steven Johnson

First, there is the classic solo entrepreneur, protecting innovations in order to benefit from them financially; then the amateur individual, exploring and inventing for the love of it. Then there are the private corporations collaborating on ideas while simultaneously competing with one another. And then there is what I call the “fourth quadrant”: the space of collaborative, nonproprietary innovation, exemplified in recent years by the Internet and the Web, two groundbreaking innovations not owned by anyone.

 

Example :

Wikipedia – non profit

Kickstarter – for profit