I only have some bullet points here without any category.
- Wait until a great idea, do not waste your time otherwise
- Think about defensibiliy, this saves you 10 years
- Bad idea + pivoting -> never a big company, most big companies start with a great idea
- Good startups usually take 10 years (and not 2-3 years)
- Great ideas seem bad to some people, and good to some people
- Take over a small subset of a market
- Growth of the market is more important than the current size of the market your company will be operating in
- You cannot create a market which is not there
- Ask why today is the perfect time, and not 4 years ago or 5 years from now
- The idea should be easy to explain to some non-tech. guy
- Companies with only the small differentiator usually fail
- While still student, think about new ideas
- While still student, meet potential cofounders
- Always first focus on the changing need, not on the product
- Idea <-> Company <-> Produt cycle is everything, the rest is just easy stuff like talking to the customers
- Talk to the users
- Build something users love, not users like
- Do something small groups can love, this is much easier to expand (word of mouth etc.)
- Don’t do something that everyone loves, big companies will do that
- Start with a simple product
- Give very quick response to the user problems
- Have users that give you regular feedback, and be extremely close to them; respond immediately etc.
- Feedback loop is really very important
- – Ask users what they pay for
- – What features matter more
- – Metric: focus on growth
References
[1] https://www.youtube.com/watch?v=f4_14pZlJBs&list=PLQ-uHSnFig5MaafmEhFox7rO-b0RxQth-