As Oscar Wilde once said, “The only thing to do with good advice is to pass it on.” Well, here at DailyTekk we come into good advice all the time. More specifically, the site is quickly becoming a treasure trove of entrepreneurial advice from some of the world’s brightest minds. As you may or may not know, from time to time we feature interviews with innovators that are making a big impact on the world. One of the questions we like to ask them is, “What’s your best advice for someone who wants to start a tech company?”
This particular roundup of excellent advice is particularly unique because it features opinions from people whose work intersects with the tech industry from another industry such as advertising (Martin Sorrell) and design (Matthew Smith). This is a good thing because you don’t get the same old answers you might otherwise see in a group of pure techies. Of course the techies know a thing or two about their industry as well (duh) so we’ve got you covered there as well with sources representing travel, music and mind-mapping products as well. Enjoy!
Also read: Can’t Miss Startup Advice (June)
Build on Reputation
It’s not fashionable to work in an industry and a company and build a reputation and a history, but that’s what I’d advise. Once you’ve built that record and history, start something on the back of that reputation and success and be very persistent and speedy. Let that entrepreneurial streak develop and unleash it.
Serve Customers, Not Technology
Solve problems for real people. Serve customers not technology. When you think you’ve figured out your minimum viable product is, I promise you that its smaller and simpler than that. Don’t just slap on design to what you’re doing, and don’t just grab a design founder who’s a pixel pusher because that’s the trend. Everyone on your team should be a designer, a design-thinker; experience is for everyone.
Have a Story to Tell
I have started 3 companies that have gotten VC funding. They say that 2-3 out of 500 companies that goes through this funnel process with a VC get funding. The interesting question is then to ask “why” do the companies that get funding, ...