How to Succeed with a Startup - Top 18 Key Takeaways Lessons from Y Combinator
Recently we were watching Y Combinator video and came up with these takeaways and very nice points from Sam Altman so we think these are very much relevant in any Startup companies out there. We at Unelma Platforms can relate to must of those as well.
The 18 Key Takeaways: 1. A product so good people tell their friends 2. Product to be easily understood - to be articulated in 1 sentence 3. Market you're in to experience exponential growth (soon) 4. Ensure you're part of a real trend (lots of actual usage) 5. Evangelical founder (CEO should act out 24/7 hustle) 6. Ambitious vision (something massive and exciting yet rooted in facts) 7. Its now easier to start a hard startup than an easy startup (hard problems are meaningful and thus attract top talent more easily) 8. Confident and definite vision (this is what is going to happen, courage of own convictions) 9. 'Huge if it works' (very small chance of success, like all startups, but if it works, it will be massive) 10. Team: Founder should spend a lot of time hiring Hire a few 'idea generators' who churn out lots of new ideas Ideal founder spirit: "we'll figure it out" All team members should take ownership and take responsibility 11. Keep momentum, once you lose it, very hard to turn the ship 12. Know your competitive advantage 13. Know how you'll make money 14. Know how you'll distribute your product 15. Traits of best founders: Frugality, focus, obsession, love Startup advantages: 16. Agility and speed of startups allow you to beat large companies 17. Speed of market evolution gives you advantage 18. Look for ideas that sound bad but are good
The 18 Key Takeaways: 1. A product so good people tell their friends 2. Product to be easily understood - to be articulated in 1 sentence 3. Market you're in to experience exponential growth (soon) 4. Ensure you're part of a real trend (lots of actual usage) 5. Evangelical founder (CEO should act out 24/7 hustle) 6. Ambitious vision (something massive and exciting yet rooted in facts) 7. Its now easier to start a hard startup than an easy startup (hard problems are meaningful and thus attract top talent more easily) 8. Confident and definite vision (this is what is going to happen, courage of own convictions) 9. 'Huge if it works' (very small chance of success, like all startups, but if it works, it will be massive) 10. Team: Founder should spend a lot of time hiring Hire a few 'idea generators' who churn out lots of new ideas Ideal founder spirit: "we'll figure it out" All team members should take ownership and take responsibility 11. Keep momentum, once you lose it, very hard to turn the ship 12. Know your competitive advantage 13. Know how you'll make money 14. Know how you'll distribute your product 15. Traits of best founders: Frugality, focus, obsession, love Startup advantages: 16. Agility and speed of startups allow you to beat large companies 17. Speed of market evolution gives you advantage 18. Look for ideas that sound bad but are good
Comments
Post a Comment