10 Laws For Starting a Successful Startup
I decided to write these 10 laws for starting a successful startup because I see so many companies with great ideas and products just get steamrolled out of existence. The market is a double-edged sword, on one side it's cruel to those who refuse to observe these laws, and on the other, it can generate a lot of wealth for those who do observe these laws.
These 10 laws are in no way linearly related, they're all interrelated. They are the metaphorical "balls in the air" that you need to keep spinning and always in the air. Above all, being humble, open-minded, and respectful will lead you toward success.
Law 1: Your Idea/Product Isn't Worth Shit if You Can't Execute
I've been a part of the Silicon Valley startup scene for the past 10 years and in the consulting world for another 10 years. I've been pitched to join someone's fledgling startup and sign on to their harebrained idea more than a dozen times. With the exception of one foolish idea, I've rejected them all outright. Why?
Because they had no path toward revenue. They had no idea how to execute their idea into reality. They were so focused on their idea and how they were going to change the world with it that they never thought of how they were going to sell it. They never thought about how they were going to build their customer base. They never thought of the market they wanted to capture and if they could do it in the first place.
