Friday, October 20, 2006

Start up Killers or Saviors?

It's tough running a small business. The 18 things which kill startups (from TraderMike's linkfest) made for interesting reading.

But, Peter Cochrane has a to do list of his own to help small business get off the ground (I like the last two the best):

The in/beginning:

>Identify and quantify an opportunity

>Identify the customer and market

>Search out the competition and assess the risk

>Dig deep and try to understand every aspect

>Locate suitable technology

>Assemble a good team

>Engineer a solution/prototype and check it out with a customer

>Formulate a plan

>Create a funding regime and raise the capital

>Focus on getting the first $$ in the bank

>Spend every $$ as if it were your last

The out/exit:

>Create a giant corporation

>Create something a giant corporation will want to buy

Any takers ;)