Here is the video i watched .I will keep it short and crisp just points to remember
Successful Startup is made of 4 ingredients, namely:
Idea
- It’s Important
- It should feel like a mission .It will tak 10 Years
- Find a small market and create a monopoly in it
- Truly good idea dont lke worth stealing . Not very many people working on
- Cannot create market that does not want to exists
- Answer Why Now ?
- Think what people want and then build it 😥
Product
- Product is king .
- Founder job => Build something user love. Talk to users.
- Better if small number of users love the product and are absolute fan
- Dont’t worry of the competition
- Start Simple , that does one things super awesome. Be fanatical in details
- Recruit initial users personally.
- Build User Engine -> Feedback Loop-> iterate (Ask them what they would pay for, would recommend to friends ? )
- Measure what you want to improve , Focus on growth no vanity metrics
Team
- Co Founder- You wed. co founder > solo > random ppl
- Get james bod co founder
- Dont hire
- Best people know the rocketship
- Mediocre engineers dont build great companies
- Believe in thing you are doing
- Things Altman look in hire -> Smart , get things done and i want to spend a lot of time around them
- Call references, Less brainteasers
- Animal Test : Describe any emply as a animal (Paul graham test)
- Employ Equity : 10% to first 10 employees wit 4 years vesting
- After hiring , keep the best
- Fire Fast : Negative, Office Politics
Execution
- Everyone in the company does what the founder do . ❣️ 👷
- Execution = Figure out what to do + get it done
- Be Focused . = Say No a lot, set overarching goals and communicate
- Extreme / Intense in everything
- When winning give speeches when loosing do sales.
- Sales fixes everything
- When infighting ask users as to what to do
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