Listened to a short presentation on how to build successful startups from the founder of Fogdogs (taken public) and Powerreviews.com
Here are some key concepts:
Team is everything
Don't be afraid to give up equity
Innovate, launch, repeat
Get as much money as you can when it's offered
Get ready for a roller coaster
Nothing too surprising here. Once again the book Purple Cow is mentioned and Guy Kawasaki's quote (Don't worry, be crappy).
He also suggests if looking for a top tier VC firm, go for it in the beginning. They don't usually invest in the later stages. Be ready to give up about 40-50% of equity.
Thursday, October 23, 2008
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