Gust

NOVEMBER 9, 2014

Eric Ries on Lean Startup methodology, via Wikipedia. I strongly recommend a dramatic departure from this model, called “planned iteration” or Lean Startup methodology, where you assume you won’t get it right the first time, so you launch with a minimum viable product (MVP). Show some traction before funding.

Agile 163

Agile Startup Lean Social Network 163

Gust

JULY 8, 2012

If you are new to the entrepreneurial world of startups, you are likely confused by the terminology of seed-stage, lean startups, micro-VCs, and Super Angels. Since the economic downturn started, neither angels nor VCs have given much attention to startups without a product and a revenue stream. Lean startup. Series-seed round.

Early Stage 177

Early Stage Finance Seed Stage Entrepreneur 177

Gust

DECEMBER 7, 2014

Entrepreneurs who plan to complete a business plan the first month, find an investor the second, and roll out a product the third month are just kidding themselves. Focusing on the burn rate and prioritizing every possible expense will keep overhead down, help you stay lean, and achieve a higher profit earlier.

Bootstrapping 191

Bootstrapping Entrepreneur Startup Burn Rate 191

Gust

JUNE 10, 2012

I come from a high-tech software background, and only a few years ago, it would cost at least a million dollars ($1M) for a team of professionals to produce any commercial software product. Remember when you had to build a $1M factory to roll-out a new product? Savings can be huge in these areas. Manufacturing cost and lead times.

Cost 139

Cost Burn Rate SEM Startup 139

Gust

NOVEMBER 25, 2012

The vision part is fine, but successful entrepreneurs have found that the extreme uncertainty of a new product or service usually requires many course corrections, or “pivots” to find a successful formula. In this case, what previously was considered a single feature in a product becomes the whole product. Platform pivot.

Silicon Valley 187

Silicon Valley Architecture Startup Channel 187

Gust

DECEMBER 22, 2013

In fact, it’s more like being single, since founders usually have no one to lean on, no one to make decisions for them, no one to blame, and no vision to follow but their own. Being a startup founder is not a job, but a lifestyle, like getting married versus staying single. What type of business startup best fits your mentality?

Entrepreneur 184

Entrepreneur Angel Investor Bootstrapping Venture Capital 184