Tuesday, June 5, 2007

Opening Salvo

What to do next? That's the question I'm asking these days and I plan to use this space for thinking out loud to come up with a solution. I've been reviewing my journals of the past 5 years in order to create a list of lessons I've learned along the way (in no particular order):

  • A good startup can operate from a cogent executive summary. Biz plans should be re-written and broadened as traction increases. Jumping too far ahead wastes resources if your not fully prepared to answer the necessary questions.
  • Actions speak louder than words. If courting a new employee or investor, gauge their enthusiasm by the promptness and thoroughness of their work. If they're not excited, they're not worth your time.
  • Consultants, attorneys and other service providers are very good at telling you what you want to hear. As an entrepreneur, you should selectively extract the information you need from these sources and discard the superfluous accolades. They don't help you get to where you want to be.
  • Strive to be remarkable and prune that which is not.
  • Don't squander the good will of a new prospect by using him/her as a sounding board for half-baked ideas.

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