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10 Common Mistakes That Startup and Small Companies Make

10 Common Mistakes That Startup and Small Companies Make
Young companies have small margins for error. Mistakes made early on can sink a company before its gets off the ground. Below is a list of 10 common mistakes made by young, small companies. In the list below, I use the generic term “product” to refer to either a product or a service. Over the next few posts, I will expound on these ideas; for now, here is the list : “Drinking Your Own Kool-Aid” – Overestimating the Enthusiasm for Your Product/Service – thinking your product is more special than your customers perceive. In the entrepreneurial spirit of “under-promise and over-deliver,” here are two more mistakes young companies make: Never Finishing the Product – the “never time to do it right, but there is always time to do it over” syndrome. Disclaimer – as the veteran of six startup companies (two that were successfully sold), these are mistakes I have seen time and again. Related:  Ideas & Negocios

The 5 Things I'd Tell My 21 Year Old Entrepreneurial S... 12 years ago I set out on my first foray into the world of entrepreneurship. The company was called (we later changed the name to the equally obtuse and while it wasn’t a huge success by dot com era standards we did sell it for a tidy profit. But looking back I’m shocked at how little I knew about entrepreneurship. As I’m sure any entrepreneur would love to do, I’d give anything to step back in time 12 years and have a chat with my 21 year old self. And while I can’t do that I do love to share lessons with as many young entrepreneurs as I can. #1 – Take as much risk as you can as early in life as you can. I’m not talking stupid risks. #2 – Nail the fundamentals. Take some of that time and use it to build skills that will make you more effective and productive the rest of your life. #3 – Surround yourself with people who expect you to succeed in a big way. “You are the average of the five people you spend the most time with.” I’m lucky. Fantastic.

How to pick a co-founder - Venture Hacks Naval · November 12th, 2009 Update: Also see our 40-minute interview on this topic. Picking a co-founder is your most important decision. The ideal founding team is two individuals, with a history of working together, of similar age and financial standing, with mutual respect. The power of two Two is the right number — avoid the three-body problem. One founder companies can work, against the odds (hello, Mark Zuckerberg). Two founders works because unanimity is possible, there are no founder politics, interests can easily align, and founder stakes are high post-financing. Someone you have history with You wouldn’t marry someone you’d just met. One builds, one sells The best builders can prototype and perhaps even build the entire product, end-to-end. The seller doesn’t have to be a “salesman” or “business guy”. Aligned motives required If one founder wants to build a cool product, another one wants to make money, and yet another wants to be famous, it won’t work. Don’t settle Pick “nice” guys

:: Portal Capital de Risco Brasil :: Última atualização: 10/07/2013 Inovar As atividades atualmente desenvolvidas pela Área de Investimento da Finep tiveram início em 2001 com o Programa Inovar, fruto de uma cooperação técnica firmada junto ao BID/Fumin. O principal objetivo do Inovar é o desenvolvimento e a consolidação da indústria de venture capital (VC) no Brasil. Ao longo de mais de uma década, diversas atividades foram desenvolvidas, dentre as quais destacamos o Portal Capital de Risco Brasil, o Venture Fórum e a Incubadora de Fundos Inovar (Inovar Fundos). Inovar Fundos A incubadora de Fundos Inovar promoveu, até novembro de 2012, 13 chamadas públicas destinadas a atuais e potenciais administradores/gestores de Fundos de VC para apresentação de propostas de capitalização de fundos de investimento. As chamadas para capitalização de fundos de investimento ocorrem em bases anuais, e a Finep seleciona aquelas oportunidades de mais se adequem ao seu perfil de risco X retorno. Fundos apoiados pela Finep: Histórico Resultados killer resources for entrepreneurs 20 Ways To Create Million Dollar Ideas post written by: Marc Chernoff Email Big companies like Apple, super successful websites like Facebook, and bestselling books like The 4-Hour Workweek all have one thing in common: They begin with a million dollar idea. The big question is: How did their creators come up with these ideas? The answer is: Spontaneity and luck had little to do with it. In this article, we’ll take a brief look at 20 tried and true techniques that some of the brightest and most successful entrepreneurs have used to generate million dollar ideas. You don’t need to have a 100-person company to develop and execute a good idea. - Larry Page (Google) Generate lots of ideas. – The more ideas you create, the more likely you are to create an idea worth a million bucks.Fail a lot. – All of the ideas that don’t work are simply stepping stones on your way to the one idea that does. Photo by: Noah Coffey If you enjoyed this article, check out our new best-selling book.

Four Things Businesses Need to Learn From Recent Discoveries in Evolutionary Theory Evolution in nature has long been a metaphor for business. You know, survival of the fittest, might make right, only the selfish thrive, etc. These analogies are clearly oversimplifications and they are based upon a superficial understanding of the biological underpinnings, but they are nonetheless quite pervasive in the business world. So it only make sense that new research in evolutionary theory be applied to the business metaphor as well. Evolutionary theory looks at how organisms respond to environmental changes. 1. Nature: It was once thought that nature changes slowly, through many small incremental steps. Business: Fear and uncertainty drive businesses to knee-jerk reactions. Case in point: a competitor comes out with a new product that is eating away at your market share. 2. Nature: It was once thought that the more complex an organism (think elephant vs. slug), the more changes would be needed to respond positively to environmental changes. 3. 4.

How to Start a Startup March 2005 (This essay is derived from a talk at the Harvard Computer Society.) You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed. And that's kind of exciting, when you think about it, because all three are doable. If there is one message I'd like to get across about startups, that's it. The Idea In particular, you don't need a brilliant idea to start a startup around. Google's plan, for example, was simply to create a search site that didn't suck. There are plenty of other areas that are just as backward as search was before Google. For example, dating sites currently suck far worse than search did before Google. An idea for a startup, however, is only a beginning. What matters is not ideas, but the people who have them. People What do I mean by good people?

How Long Does it Take to Build a Technology Empire? Have you ever seen a business plan with hockey stick revenue projections? It’s common for VCs to receive business plans showing sales growing from 0 to $100m in the first 5 years of a company’s life. In fact, growth conversations between VCs and management teams often cause angst. One of the reasons is that people from both groups tend to have unsubstantiated beliefs about how long it takes to build an important company. Maybe these conversations would be easier if we simply knew how long it takes to build a successful company? Dashboard at 570 <br /><a href="#"><img alt="Dashboard at 570 " src=" height="100%" /></a> The answer is shown in the visualization. The data are packed with interesting stories. Most successful technology companies aren’t rocket ships. Only 28% of the nation’s most successful public software empires were rocketships. The fastest rocket ship of today’s software industry was Novell.