We can only beat the big guys with focus. It has to be so small the big guys don’t care. Big guys rarely buy big businesses anyway, especially not in the tech or web scene. They want it to fit tightly into their portfolio. We ought put all our eggs in a tiny basket. In this way we wont get short short of resources, both human and financial.
When we do this in startup land, we have a chance of winning.
- Project management is the key skill (Outsource weaknesses, be blissfully unaware how to do technical things, manage the value chain.)
- Think micro (Start small, no tiny. think hyper-local, and expand out from there)
- Compound effort (Our labour compounds over time like interest and investments do, social media takes compound effort)
- Speed is better than perfection (perfection is the enemy of success, launch review and iterate constantly)
- Manage for cash flow not profit (Money in and money out are the only 2 financials that matter, we can’t go broke when cash flow positive)
- We’ve got to sell (Selling is a core skill, we have to sell not just to customers but to everyone in our business world, employees & suppliers too, have a sales guru in your team)
- Start now (The right is never going to come, stop waiting for it)