The Startup Journey

In a Medium blog , Mitchel Harper  shares his thoughts on what makes great products. 1. BFBC - Build For your Best Customers They bring you most revenue and are willing to pay for upgrades and newer products. Give a higher weight age for their feedback. 2. Solve Tier I Problems Tier I - One of top 3 problems of potential customers . If  you are solving a Tier I problem you will have the Customers' attention and budget spend. The rest are Vitamins - "nice to have fixed" problems. 3. Build 'simple to understand' products Design is your most important feature. Every time the user experience is great, a startup's revenue grow like weed. 4. Make a cupcake Most startups try to build the wedding cake (the big final product) on their first iteration instead of starting small with a cupcake, then turning it into a cake (based on customer feedback) and then finally into a wedding cake (again, based on customer feedback). 4. Prioritize Customer Feedba...

Sara Tavel compares "Good" employees with "Rock Star" employees (whom she calls as the Mitochondria of the company) 1. Both are good at their jobs 2. The difference being in the  scale of adding value.  For good employees, it is is linear (more pay or higher the hierarchy = more value), while rockstar employees - "they add value to the company beyond their job description and responsibilities. They ask and do what is best for the company" The  "founder’s job (is) to attract and retain mitochondria through all stages of a company. At the early stages, this rare group of individuals is the core of the company. As your startup scales, they are your leaders." How do you spot them? - Do Value Interviews "Don't just hire for competence, interview for values" Typically the founding team should check if the candidate is going to be a match with the core values of the company. If you had a chart for that you'd want someon...

Entrepreneurs like Sanjiv Bikhchandani of Naukri, Murugavel Janakiraman of Matrimony, the Bansals of Flipkart;  VSS Mani  of Justdial, etc. deserve massive admiration. What they have achieved is more like conquering Everest. Good to know that once they have climbed the peak, thee environment also helps protect "their" turf. From a blog post by Dev Khare of Lightspeed Ventures (emphasis mine): Many of India's successful startups have navigated a maze of challenges, creating leading brands and sustaining for long periods of time.   Correspondingly, it is much harder in India, relative to the US/Europe, for competition to unseat leading brands . ... Startups need large markets (Rs 2500cr+ or $500 million+) to get large and succeed.  This is hard to find in India, perhaps due to early consumer demand, unorganized markets, regional differences or foreign substitutes.  For example, digital advertising is a roughly $400 million annual business here, ...