Startup-Start Over

StartUP - Start Over

Ok, so now you have a new job. Or, you now realize that decorating your new offices ahead of revenue maybe wasn't' such a good idea. Perhaps you loved that crazy startup atmosphere where suits were absolutely out of place. Or you just survived the downsizing and are looking at yourself going "what was I thinking 170K a year wasn't' enough".

Time to move on. But those of us who run companies are doomed to constantly rehash all the decisions. What we could of been, what we should of done better. It is easy to beat yourself up, but the facts remain that the last year was sobering and full of lessons if you care to learn them.

So I title this essay....

"Experience is what you get when you don't get what you want".

Lesson1. Timing is everything. A great idea a year late is worthless. A great idea in a startup market with too much money being flung around is also worthless. What matters is getting a product or service to market and having someone buy it. If you can do it on a small amount of seed money that is the ticket. Big money should be spent to push a big idea that is already working in a small prototype.

Lesson2. You can pick your husband...Hey you can pick who you work with too! Too often in the hectic grow, find talent craziness you end up with first time players. Hire only people that have done it before, whatever it is. That goes for Venture Capitalists also. While the angel money was good for seed rounds, if you didn't have seasoned Venture Capitalists around, you didn't get followon rounds. (Also, they have the experience to wave the BS meter early).

Lesson3. Have a Sales Channel. The best ideas in the world are useless without sales and distribution. That takes money which means you have to have something that sells and makes you money....it is a circle that has been around for hundreds of years...believe me, if you build it they won't come....you have to go sell it.

Lesson4. Have a sense of Humor. There is no such thing as an entrepreneur who only has one deal. We are serial hitters and each startup CEO has a few strikeouts along the way. Learn from them, learn it is ok to go back in with a new plan, even to the same investors, and show them a deal that "just can't lose"!