Category: planning

What do investors invest in?

Posted on by Steve Sammartino

While dropping into Startup Camp in Melbourne last week I started chatting with Jonathon from Melbourne Angel Investors. I asked him just one question:

What is more important in their investments, the team or the concept / product?

His reply was a simple one and here it is:

We’d invest in an A Grade team with a B Grade product, but we wouldn’t invest in an A Grade product with a B Grade team.

Startup blog agrees. Though I did here that he was pretty ‘anti-tech’ as far as their investments go…

But the first piece of advice is worth adhearing  to. Above all things build an A Grade team, be an A Grade entrepreneur.

And so again we hear that the people in your startup are way more important than the secret sauce. It is without irony that A Grade teams more often than not find A Grade ideas too.

AFL Legend – John Kennedy ‘Do something’

Posted on by Steve Sammartino

This advice matters to everyone: Favour action over all things.

For the uninitiated: This speach was given by a famous football coach in Australia during an AFL Grand Final (think Superbowl / FA Cup). With passion he emplored his campaigners to just get out there and do whatever they could. The end result being a victory – or the ability to say ‘at least I had a go…’

[youtube=http://www.youtube.com/watch?v=9db1GgNtCKw]

Only the lonely

Posted on by Steve Sammartino

There’s many emotions associated with being an entrepreneur – seldom discussed is the fact that it’s a lonely business.

If we can’t deal with being the guy in photo above, then we’d be better off in the office of conglomerate X.

No one knows, cares or even thinks about what we are doing until we’ve arrived. During the lonely journey we’ve got to stay busy, remain active and get out in the world. We’ve got to get out of the ‘lab’ work mobile and stay social. If we islotate ourselves too much during the ‘lonely’ evolution period, we risk losing the ability to make the cross over to ‘leader’ when our startup gains momentum.

Media diet – startup style

Posted on by Steve Sammartino

As promoted in the 4 hour work week a media diet is a nice way save time. For entrepreneurs a different type of media diet is required.

A business trends diet

Here’s how – avoid all business related articles as they pertain to new strategies & trends.

Here’s why – We already know enough to be successful. Our problem is doing the stuff.

Unless we are just starting in the business world – we’ve heard every strategy and the fact is that most ‘new’ business ideas are simple derivatives of business theories which have been around since the birth of commerce. Cables channels and tech stuff is the worst. Who’s got the time to read 86 posts from techcrunch every day? – not me.

We ought just trust our judgment and make the call that we know enough to get moving…and the rest we’ll learn on the job…. So in the spirit of this blog entry, ignore the articles you were about to read and get back to your stuff.

This blog is bias

Posted on by Steve Sammartino

This blog is full of contradictions. Mainly because we must embrace the many contradictions our market place constantly presents us. So when you read them remember its all about context.

 

But in the spirit of symmetry here’s a few contradictions you’ll never find:

 

Bias for doing over planning 

Bias for speed over perfection 

Bias for niche over mass market 

Bias for authenticity over spin 

Bias for passion over ability

 

It pays to have a bias for what you stand for.

Why everything matters

Posted on by Steve Sammartino

Here’s a list of things which actually do matter:

 

Our diction and vernacular

Our personal presentation & dress code (Doesn’t mean a suit, but to wear what we wear well, have a sense of style)

The way we engage people and treat them

Our smile and attitude

How neat  and organized our workspace is

Being on time

Our posture

Knowing our next steps every day

Making sure our technology is in working order

 

All these things and others, matter all the time. Not just the day you have to do it right, have the big VC presentation or the day you’re meeting your biggest customer. 

 

And here’s why – they’ll become habit. Good habits. And when things are habit, they’re performed much the same way – time and time again.

 

If we do them well when it doesn’t matter, we’ll do them well when it does.

Keeping up to date

Posted on by Steve Sammartino

Can be a huge time waster. The irony for us in startup land is that it’s our job to stay informed.

Startup blog advice: If you need to stay on top of a broad topic find a good aggregator.

Someone who’ll cover stuff when it becomes important enough for you to know. Seth Godin does this for me as far as web 2.0 and new marketing is concerned. Startup blog does this for you as far as keeping your mind thinking as an entrepreneur should.

Got some good short cut summary sites? On new technology, web sites, new businesses? Add them to comments.