Startup Library. How should a startup founder value her time? Almost no startup founder values her time properly.
Consultants know exactly what their time is worth: their hourly rate. As they say, it’s how much “the market will bear.” When a consultant intentionally doesn’t work for an hour — whether to be with family or to work on a new startup — they’re clearly giving up an hour of potential earnings. If being a consultant is your goal, this is indeed how you should value your time. But when you’re in a startup, the math is completely different.
Your time is $1000/hour, and you need to act accordingly. Let’s say as a consultant who normally charges $150/hour you stumble upon a weird client who asks for the following terms: “We agree your time is worth $150/hour. How much should you increase your hourly rate to make these terms worthwhile? But “lost interest” and a premium doesn’t solve the biggest problem with these terms. Supposing this client is an early-stage startup — even if funded — the most likely event is that they stiff you! What else? Freelance/Outsource/Etc. Work/Business/Startups/Projects/Outsource/Freelance/Etc. The startup skill set. I went to LeanCamp London last Sunday.
It was a blast - there were a lot of interesting people to meet, and one of the highlights was, of course, seeing Eric Ries answer a whole bunch of questions very intelligently and entertainingly. Another key highlight, for me, was my own "workshop" talk, judiciously titled "Lean Startup Skill Set". Was it really specifically lean? Perhaps not, but it's a skill set that will help any entrepreneur trying to build a startup, particularly those that use Lean methods. My premise, as I explained previously, is that success (at least to the "survival" or "comfort" levels) in the startup world has more to do with skills than with ideas.
There are exceptions, of course, but you can't rely on being the exception any more than you can rely on winning the lottery. The workshop's purpose, then, was to discuss what those core entrepreneurial skills are and where to learn them. The purpose of the startup skill set 1. 2. 3. 4. 5. 6. . [ More details ] 7. 8. 9. 10. 11. Lean Startup. "Lean startup" is a method for developing businesses and products first proposed in 2011 by Eric Ries.
Based on his previous experience working in several U.S. startups, Ries claims that startups can shorten their product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and what he calls "validated learning". Ries' overall claim is that if startups invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures. Background Although the lost money differed by orders of magnitude, the failures of There, Inc. and Catalyst Recruiting share similar origins, with Ries stating that "it was working forward from the technology instead of working backward from the business results you're trying to achieve.
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