Comments on: Drama 2.0’s 10 Rules for Startups http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/ Keeping Tech Sexy Wed, 28 Oct 2009 02:05:44 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/comment-page-1/#comment-23685 Anonymous Mon, 01 Sep 2008 20:14:50 +0000 http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/#comment-23685 <strong>...</strong> ” If you work hard on your job, you could make a living. If you work hard on yourself, you could make a fortune. Your income is primarily determined by your philosophy, not the economy. Success is something you attract by becoming an attractive perso... …

” If you work hard on your job, you could make a living. If you work hard on yourself, you could make a fortune. Your income is primarily determined by your philosophy, not the economy. Success is something you attract by becoming an attractive perso…

]]> By: Ben Strackany http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/comment-page-1/#comment-2228 Ben Strackany Thu, 17 Jan 2008 01:42:26 +0000 http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/#comment-2228 Very good point about the business plan -- I think a number of web startup founders either feel they need to produce a massive document, or else eschew any sort of business plan because it's too old-school or think they don't need one. I love the point you're making -- before diving in, spend a few days or even several hours thinking about your business, looking at competition, thinking about how you'll make money, determining how you'll build it, seeing if you can leverage any existing contacts or opportunities, etc. Very good point about the business plan — I think a number of web startup founders either feel they need to produce a massive document, or else eschew any sort of business plan because it’s too old-school or think they don’t need one.

I love the point you’re making — before diving in, spend a few days or even several hours thinking about your business, looking at competition, thinking about how you’ll make money, determining how you’ll build it, seeing if you can leverage any existing contacts or opportunities, etc.

]]> By: Edgeio: An Interesting Look into the World of VC-Financed Startups : The Drama 2.0 Show http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/comment-page-1/#comment-1022 Edgeio: An Interesting Look into the World of VC-Financed Startups : The Drama 2.0 Show Wed, 12 Dec 2007 06:27:27 +0000 http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/#comment-1022 [...] a “plan” that has you spending all of it during some “pre-revenue phase.” As I noted in my 10 rules for startups, cash is king. At the end of the day, businesses are started to make money. Start a business that [...] [...] a “plan” that has you spending all of it during some “pre-revenue phase.” As I noted in my 10 rules for startups, cash is king. At the end of the day, businesses are started to make money. Start a business that [...]

]]> By: Stanley Miller http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/comment-page-1/#comment-975 Stanley Miller Thu, 06 Dec 2007 06:06:34 +0000 http://www.drama20show.com/2007/12/05/drama-20s-10-rules-for-startups/#comment-975 @If you follow this advice, the chances that you’ll find startup success still aren’t that great but that’s about as common sense as the advice itself.@ And you'll be working (most likely) for below minimum wage. You should view everything in terms of rate-of-return and markets. That's all the matters. In any market, there are only a finite number of opportunities and return available. The market size and shape are are driven by many economic factors outside of one's control. Just like in the stock-market, best returns are achieved when you have some "inside" information. Otherwise, you're basically gambling. Professional investors hedge their bets. Why should it be any different for the entrepreneur? Entrepreneurs can hedge by becoming an insider and knowing their business. You achieve your insider status by working in an industry and building relationships. There is a formula to "entrepreneur" success: get a job, learn your industry, and meets lots of people. Then when you recognize a gap where the market is being underserved that's your time to pounce! And if you've done your networking, you'll have plenty of industry friends ready to support you. You'll understand their needs the best. Otherwise you'll be making a megamistake. @If you follow this advice, the chances that you’ll find startup success still aren’t that great but that’s about as common sense as the advice itself.@

And you’ll be working (most likely) for below minimum wage.

You should view everything in terms of rate-of-return and markets. That’s all the matters. In any market, there are only a finite number of opportunities and return available. The market size and shape are are driven by many economic factors outside of one’s control. Just like in the stock-market, best returns are achieved when you have some “inside” information. Otherwise, you’re basically gambling.

Professional investors hedge their bets. Why should it be any different for the entrepreneur? Entrepreneurs can hedge by becoming an insider and knowing their business. You achieve your insider status by working in an industry and building relationships.

There is a formula to “entrepreneur” success: get a job, learn your industry, and meets lots of people. Then when you recognize a gap where the market is being underserved that’s your time to pounce! And if you’ve done your networking, you’ll have plenty of industry friends ready to support you. You’ll understand their needs the best.

Otherwise you’ll be making a megamistake.

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