Thursday, November 16, 2006

Stratup! Why very few succeed?

Paul Graham finds that not trying hard enough could be the only reason why startups fail. Most startups fail because they don't make something people want, and the reason most don't is that they don't try hard enough. He lists amongst other things, traps that need to be avoided : The Single founder syndrome, choice of location, marginal niche, idea imitations, obstinacy, raising little money, spending too much, Poor investor management , Founder fights , Insincere and half hearted attempts. Poor programmers, wrong choice of platform, slowness in launching, early launch, no defined customer base etc.. In today's world as he sees it, success may flow from not ducking key principles like focus on custmer success. He adds,“The companies that win are the ones that put users first. Google, for example. They made search work, then worried about how to make money from it. And yet some startup founders still think it's irresponsible not to focus on the business model from the beginning. They're often encouraged in this by investors whose experience comes from less malleable industries.It is irresponsible not to think about business models. It's just ten times more irresponsible not to think about the product”

A Half-Hearted Effort - This one point has been troubling me a lot. I am personally in a stage where I can see that I am working towards it but not with full effort. I ASK MYSEFL WHY? GOOD, I NEED TO FIGURE THIS OUT AND START WORKING HARD.

As Steve jobs keeps it, Stay hungry.. Stay foolish is the key for success of any business. You don't have to go with your gut feeling when you can think of a flawless solution, but when you are stuck between 2 things, I say you should go with the one in which you believe in…. you know it will be the path to success of your company, even when there is greater risk involved.

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