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Tuesday, May 30, 2006

26 Entrepreneurial Proverbs

Marc did a great job on the O'Reilly Radar setting up this list of entrepreneurial proverbs each of them come with a description, sample etc. Checkout the comments too !

Starting
  • It's good to be king
  • Losing sucks
  • Building to flip is building to flop
  • Prudence becomes procrastination
  • Momentum builds on itself
  • Jump when you are more excited than afraid
The Idea
  • Pay attention to the idea that won't leave you alone
  • If you keep your secrets from the market, the market will keep its secrets from you
  • Immediate yes is immediate no
  • Build what you know
  • Give people what they need, not what they say they need
  • Your ideas will get better the more you know about business
People
  • Three is fine; two, divine
  • Work only with people you like and believe in
  • Work with people who like and believe in you, just naturally
  • Great things are made by people who share a passion, not by those who have been talked into one
Product
  • Cool ideas are useless without great needs
  • Build the simplest thing possible
  • Solve problems, not potential problems
  • Test everything with real people

Money
  • Start with nothing, and have nothing for as long as possible
  • The best investor pitches are plainspoken and entertaining (not in that order)
  • Never let on that you're keeping a secret
  • No means maybe and yes means maybe
  • For investors, the product is nothing
  • The best way to get investment is not to need it
Here is the one I like the most :

Build the simplest thing possible -- engineers have the hardest time with this, with not overdesigning for the need they're addressing. Make the simplest possible product that makes a significant dent in that need, and you'll do far better than you would addressing two or three needs at once. Simplicity leads to clarity in everything you do.
Here is a comment that's quite good too :

Stage 1: Fantastic idea
Stage 2: Fear
Stage 3: Actual (mediocre) product

Happy reading !

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