,
8 tweets,
3 min read
Read on Twitter
To my friends & class-mates & colleagues. If you're thinking it's too late to startup - you're probably wrong :)
Age & wisdom make a startup far more likely to succeed. Even if you won't get breathless media like a 21 yr old dropout :)
/1
Age & wisdom make a startup far more likely to succeed. Even if you won't get breathless media like a 21 yr old dropout :)
/1
Step 1: Ensure you've built up a nest-egg to manage your finances for 2-3 yrs at a low burn-rate. Get your spouse to support you. It will take time to start getting serious cashflow. Until then you want to reinvest into the business.
/2
/2
Step 1: Ensure you've built up a nest-egg to manage your finances for 2-3 yrs at a low burn-rate. Get your spouse to support you. It will take 3 yrs for you to start getting serious cashflow. Until then you want to reinvest into the business.
/3
/3
Step 2: Here the Curse of Knowledge works against you - like fish in the sea don't know what water is - you don't know what you know about your industry is special.
/4
/4
Step 3: Find buyers in your network. Ask them what problem they want solved, and how much they'd pay to solve it. In an area where you CAN solve it.
As Greg Gianforte put up "Nothing happens until someone sells something" inc.com/magazine/20020… /5
As Greg Gianforte put up "Nothing happens until someone sells something" inc.com/magazine/20020… /5
Step 4: Find a builder in your network. Mostly an old colleague or classmate or a niece or a mentee. If you can build an MVP using an external vendor (& u hv $ to spare), do it. But sell before you build it!
Have ur buyers work with you on wireframe, mocks, MVP
/6
Have ur buyers work with you on wireframe, mocks, MVP
/6
Step 5: Get the money, repeat sales with new referrals from your network & first customers. Profit & succeed!
Remember you're 3X more likely to succeed as a young one :)
/fin
Remember you're 3X more likely to succeed as a young one :)
/fin
#screwedThread
Find out what in your domain you know better than anyone else. What can you do 10X better than anyone else? What problem can you see/solve that others don't? What network do you have that has this problem & can pay to solve it!
/3 really this time
Find out what in your domain you know better than anyone else. What can you do 10X better than anyone else? What problem can you see/solve that others don't? What network do you have that has this problem & can pay to solve it!
/3 really this time
