Welcome to the fourth edition of CMSA. If you like this series TRUST ME you don’t want to miss the motherlode coming out on Monday. Now down to business. DailyTekk loves startups, especially tech startups. We do everything we can to expose companies we think are awesome as well as to support budding entrepreneurs. To that end we have a series called Innovators that explores what makes a founder and a startup company a success. We get lots of great answers from passionate people who want to pass their knowledge along. Here you will find the best advice over the last couple of months. What do you think? Have anything to add?
Also read: Can’t Miss Startup Advice (September)
Do the Opposite of Everyone Else
a) Do the opposite of everyone else. If everyone is making a Daily Deals/ Big Data/ location based photo sharing app, you should probably avoid that space. Its better to observe trends as they unfold and avoid doing what seems to be getting all the press.
b) Do your research. Talk to people who are in the field that you want to break into and get as much information as possible. Before starting Sterobot, I found mentors that explained every detail about music licensing. I started researching at least 12 months before beginning to work on the product.
c) Keep on fighting and be patient. Many people get discouraged after they put in a lot of work and their startup is not an instant success. I believe its Bill Gates who said ‘people overestimate what they can do in three years, but underestimate what can be done in seven.’ I think perseverance is what separates the successes from the failures. Being ready to bang your head against the wall until you get right. Rome wasn’t built in a day (..but it was built eventually!).
Contributed by Tasos Frantzolas
Start Sooner Rather Than Later
Do your research, find your passion and get started sooner rather than later. You will learn a lot from the process, and the earlier you start the sooner you will figure out what it takes to succeed (which is likely a different model than what you start with!) That being said, you (and your spouse) must be willing to live the sacrifices that are inevitable. Running a startup is a roller coaster ride and you must be prepared to stomach the ups ...