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Start Up Lessons

Some key lessons I've learned that may, or may not be useful to you.

a) 'great ideas' are worthless and usually wrong.

  • Take your assumptions and figure out how to validate them.

  • Don't be afraid of being wrong, it can be hard to find right (what ever that is).

  • Implementation is key, ideas are nothing without it!

b) focus

  • take one little thing and make it work. Build on that victory and then do the next thing.

  • Set clear goals and objectives.

  • Understand your motivations and write down why you’re doing the business.

c) making money is hard

  • use your unfair advantages

  • focus on the margins, remember the 80:20 principle (80% of your income will come from 20% of your clients)

  • Be cautious when spending and hustle at every opportunity: beg, borrow, negotiate.


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