At Start Up School 08, Greg McAdoo spoke about some different ideas on how to get your start up out the door fast. And what elements you will need for a Sustainable Company. The key points are his, but I try to explain it better.
- Clarity of Purpose - One must know what your trying to achieve in order to achieve it. Get some goals in place.
- Spectacular Market - Once must have a very good market in which to enter. The video market is just now catching on with YouTube, there can be more competitors if it grew large enough and was able to turn it around.
- Alleviate Customer Pain - Make sure you have something that people want or have been dieing for.
- Team DNA - You must have the ability to work together with your company.
- Incredible Product Focus - You must have one or two solid products before you decide to expand. Make sure the customer is happy with your product.
- Real Operating Margins - Someone help me out here. Still trying to decipher what he is saying.
- Frugality - Spend less, develop more!
- Inferno with a single Match - Light a fire and make your one product sell like mad!
I hope these points helped, because they are incredibly valuable.
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