Don't Do List for Online Startups

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kazi
Posts: 978
Joined: Mon Jun 29, 2009 11:55 am

Don't Do List for Online Startups

Postby kazi » Thu Aug 27, 2009 2:38 am

According to my conversation with @sthapit and @Ganesh, I think it would be useful to compile a list of *dont do* so that we can avoid the pitfalls and potholes of online startups.
Last edited by kazi on Wed Nov 11, 2009 11:53 am, edited 1 time in total.
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"Mother and motherland are more precious than heaven." But that does not mean we must cling to our mothers. The least I can do for Nepal is to bring awareness among the Nepali people. And this Nepali forum is the platform for me.

sthapit
Posts: 13
Joined: Mon Aug 24, 2009 7:11 am
Location: Kathmandu
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Re: Don't Do List for Online Startups

Postby sthapit » Fri Aug 28, 2009 6:47 am

this one's easy

- try to borrow as little money as possible, especially in the beginning. if you do go for the VC/angel route remember that the more money you get the less you will eventually own of your company.
- remember, everyone has good ideas. it's the execution that's difficult. focus on getting the team more than the product. your product will invariably change, but your team has to be smart (and talented) enough to adapt
- a variation of the above, don't try to keep your idea a secret. it's much better if your ideas are out for the world to see so you get feedback early on versus spending a lot of time developing something no one wants.
- don't be anti-social while in start up mode
- don't ignore your health while in start up mode
- if possible, don't quit your day job. the rate of success is very low for startups and chances are you will fail. but you have to be able to keep trying and not let your first failure crush you.

rrrryan
Posts: 13
Joined: Fri Aug 21, 2009 6:52 pm
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Re: Don't Do List for Online Startups

Postby rrrryan » Fri Aug 28, 2009 9:24 pm

sthapit, this is very wise. I have bookmarked your site.


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