by Daniel Jacobs, CEO Avanoo
I've started 4 companies over 12 years.
Here are a few things I wish I'd known before starting this amazing journey.
1. If You Wouldn't Fight Monsters in a Dark Alley
to Protect Your Business, Don't Start it.
It will be harder than you think!
The only way you will see this journey through is if your vision is aligned with who you are.
2. Survive First: Start with a Business Model in Mind
Everybody hears the stories of Facebook, Twitter, Pinterest, etc. These guys are the exceptions, not the norm
No business model means:
1. you must be beyond extraordinary to survive, 2. survival will cost you a lot more money than you think, and 3. you will not have paying customers to guide you towards sustainability.
3. Paying Customers are God. Non-paying are a Gamble
Take feedback from people not willing to open their wallets with a grain of salt.
I wish I'd known this!
The gap between quality of feedback from nonpaying and paying customers is enormous: when people love something... it still doesn't mean they will pay a dollar for it.
4. Find a Cofounder That Makes You a Better Business Person
It's all much easier when you have someone by your side with a similar vision + complementary skills
We all have gaps
When we can lean on a cofounder whose skills and perspective naturally fill those gaps... it changes the game!
5. A Conclusion of Sorts
Figure Out Which Rules to Break and Which to Follow
When should i separate from or join the crowd?
This requires knowing yourself and knowing your business. Business mastery happens when we figure out how to stand on the shoulders of giants... with a message that is still uniquely our own.