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Posts tagged entrepreneurship
TechStars New York Episode 1
The entrepreneurs battle for the few spots in the Loft. Meet the Davids, who run the elite incubator, and the top minds in tech who will mentor the companies through the toughest three months they’ll ever face as entrepreneurs. Who’s got problems with their business right off the bat?
The biggest thing we all knew was that cofounders tend to do better than single founders; more controversial will be the finding that younger founders do better. That’s a hotly debated idea at TechCrunch, and the key is looking at companies that either have had or are expected to have outsized results. When it comes to the macro-startup economy, that’s what keeps all of us in business.
Many corporations test products during the development cycle but not early or often enough with actual customers. R&D is the most expensive step in the innovation process. If you wait until you have something close to a finished product before getting user feedback, large sunk costs will make your team reluctant to employ significant changes.
Mark Suster, Partner at GRP Partners and author of BothSidesOfTheTable, discusses the mistakes he made in his early ventures and offers advice to emerging entrepreneurs
When it comes to launching, draw a line in the sand. Chasen said he’s a perfectionist, but he knew that he had to launch at some point. So he drew a line in the sand to ensure that as long as he got to a certain point, he would feel comfortable in opening to the public. The temptation is to keep adding features, but he said you will never be able to launch if you don’t stop at some point.
Source: Lessons from Billy Chasen’s epic pivot to Turntable.fm by Ryan Kim