What’s the best way to know if your idea your good one?

Aaron Patzer (Founder & CEO of Fountain, Mint)
How Mint Found Startup Success By Solving Real Problems

Solve a real problem. You don’t start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur and you create a company to solve a real problem.

What’s the best way to compensate employees?

Aaron Patzer (Founder & CEO of Fountain, Mint)
Aaron Patzer lays bare Mint’s numbers – YouTube

My first engineer at Mint I paid $3,000/mo. That’s what I paid my second engineer as well. [They] got 2% and 1.5% equity. I hired my VP of Engineering who was [previously] making 180k for 90k but I gave him 4% equity.

What’s the best way to scale your organization?

Sam Altman (President at Y Combinator)
Startup Advice – Sam Altman

Here is some of the best startup advice I’ve heard or given (mostly heard): (a) Make something people want and (b) A great team and a great market are both critically important—you have to have both. The debate about which is more important is silly.

David Jackson (Founder, Seeking Alpha)
When your product should no longer be your top priority | A Founder’s Notebook

Once you have basic product-market fit, you need to shift your attention to the other elements which will lead to profitable growth.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
MBA Mondays: When Its Not Your Team – AVC

Company building is not this simple, but I do like to think about it terms of two stages. Getting the product right and customers/users scaling. Then scaling the company and the team. If you aren’t doing the first, you mostly don’t need to worry about the second. There are occasional team issues in the first stage you need to deal with but they aren’t the big thing you need to focus on. The big thing you need ot to focus on is the product and its… (read more)

Aaron Patzer (Founder & CEO of Fountain, Mint)
Aaron Patzer lays bare Mint’s numbers – YouTube

The first phase is the garage phase. This is <100k of funding.

David Jackson (Founder, Seeking Alpha)
The most important factor in startup success | A Founder’s Notebook

The most important factor in startup success [is product market fit]

Amir Elaguizy (CEO Cratejoy, YC Alumni)
58 things I learned at YC – Giftshop Scientist

Everyone’s problem is money until it’s hiring

Joe Gebbia (Co-Founder & Chief Product Officer at Airbnb)
How Design Thinking Transformed Airbnb from a Failing Startup to a Billion Dollar Business | First Round Review

At Airbnb, the company encourages new employees to ship new features on their first day at the company. It earns them their sea legs and shows that great ideas can come from anywhere. This approach yields results in unexpected ways.

Jerry Colona (Founder @ Reboot.io)
The Management Team – Guest Post By Jerry Colonna – AVC

To me, the hardest part of scaling people is learning to lead your self. We forge our truest identity by facing our fears, our prejudices, our passions, and the source of our aggression.

Drew Houston (Co-Founder & CEO at Dropbox)
Slides: Lean startup lessons that helped Dropbox become a $10B company by Drew Houston – GrowthHackers

Product-market fit cures many sins of management. Mostly ignored: Hiring non-engineers; mainstream PR; traditional messaging / positioning; deadlines, process, “best practices”; having a “real” website; partnerships / bizdev; having lots of features.

David Sacks (CEO at Zenefits)
New Sales Models – David Sacks, Founder and CEO of Yammer – YouTube

Breakout startups must typically innovate on distribution not just product.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Taking the Mystery out of Scaling a Company – Ben’s Blog

When an organization grows in size, things that were previously easy become difficult. Still, if the company doesn’t expand, then it will never be much of a company, so the challenge is to grow and degrade as slowly as possible.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Taking the Mystery out of Scaling a Company – Ben’s Blog

Figure out what needs to be communicated. Figure out what needs to be decided. Prioritize the most important communication and decision paths

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Taking the Mystery out of Scaling a Company – Ben’s Blog

Focus on the output first. Figure out how you’ll know if you are getting what you want at each step. Engineer accountability into the system.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
No Credit for Predicting Rain – Ben’s Blog

At a certain point in the process, no credit will be given for predicting rain. The only credit will be for helping to build an ark.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
CEOs Should Tell It Like It Is – Ben’s Blog

There are three key reasons why being transparent about your company’s problems makes sense: 1. Trust – Without trust, communication breaks. 2. The more brains working on the hard problems, the better. 3. A healthy company culture encourages people to share bad news. A company that discusses its problems freely and openly can quickly solve them. A company that covers up its problems frustrates everyone involved.

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Taking the Mystery out of Scaling a Company – Ben’s Blog

The first rule of organizational design is that all organizational designs are bad. Your goal is to choose the least of all evils.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
Tech Ops As A Metaphor For Building, Running, & Leading A Company – AVC

Things that work well at small scale break at large scale – you need different people, processes, and systems as a company grows. You need to instrument your system so you can see when things are reaching the breaking point, well before they break. Overbuilt systems are hard to implement, manage, and scale

Mariya Yao (Founder at Xanadu)
Lessons Learned: Rapid Iteration for Mobile App Design

What often happens is a startup builds a product people like but don’t love. They’ll typically appear to do well early on, but won’t have enough of a passionate following to achieve meaningful growth or revenues.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Management Team – While Building Usage – AVC

Many of the hires that are made in the “building usage” stage are going to report directly to the founder/CEO. The additional product hires may report to you because it is likely that you are running product as well. The community team may report to you. And who is leading that team? The business development person, the marketing person, the admin/finance/HR/legal person, and probably all the sales people are likely reporting to you. Have you eve… (read more)

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
MBA Mondays: When Its Not Your Team – AVC

These issues can play themselves out again when the company is larger. Companies can lose their way. Or their product lineup can get stale. Or competition can enter the market and change the dynamics for users or buyers. Once again, you need to focus in on getting the product right and making sure that it is providing value to customers/users.

Ho Nam (Managing Director at Altos Ventures)
The First Breaking Point – Altos Ventures

Initial – the process is new, ad hoc, chaotic and undocumented. Individual heroics are relied upon to get the job done. Repeatable – the process is somewhat documented. Repeating the same steps may be attempted. It’s not clear if the process will yield desired outputs. Defined – the process is well defined, documented and confirmed as a standard process that can produce results. Managed – the process is quantitatively managed in accordance with a… (read more)

What’s the best way to know if your idea is a good one?

Jessica Livingston (Co-Founder & Partner @
Y Combinator)

Twitter

Denial is the secret killer of startups.

Hunter Walk (Founder & Partner at Homebrew)
The Most Difficult Question I Ask Founders | Hunter Walk

The most difficult question for some founders is “why do you want to spend 10 years of your life working on solving this problem. ”

Larry Page (CEO & Founder at Alphabet)
Mergers must meet the toothbrush test

Is it something you will use once or twice a day, and does it make your life better?

Mark Suster (Managing Partner at Upfront Ventures)
Why Your Startup is More Likely to Succeed if You’re Authentic and Passionate | Bothsides of the Table

Running a startup is a grind. It wears you down. It’s full of mostly stresses and set backs. It requires absolute dedication, commitment and drive – even when things seem hopeless. When I’ve seen extreme success up close I can tell you it comes with absolute dedication to being number one 24/7 to the point of crowding out nearly everything else in your life. It’s why being an entrepreneur isn’t for everybody. But if you’re going to try and compet… (read more)

Saras Sarasvathy (Member of the Strategy, Entrepreneurship and Ethics area at the Darden School of Business)
The Affordable Loss Principle

Entreprenuer[s] set an upper bound on what he or she is willing to lose in order to start the venture. “In the worst-case scenario, I will lose the money and will be back in the job market in two years.”

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Programming Your Culture – Ben’s Blog

The second thing that any technology startup must do is to take the market. If it’s possible to do something 10X better, it’s also possible that you won’t be the only company to figure that out. Therefore, you must take the market before somebody else does. Very few products are 10X better than the competition, so unseating the new incumbent is much more difficult than unseating the old one.”

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Starting with the right idea matters. Empirically, you can only pivot so far.

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Work on a problem that has an immediately useful solution, but has enormous potential for growth. If it doesn’t augment the human condition for a huge number of people in a meaningful way, it’s not worth doing. For example, Google touches billions of lives by filling a very concrete space in people’s daily routine. It changes the way people behave and perceive their immediate physical surroundings. Shoot for building a product of this magnitude

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Beware of chicken and egg products. Make sure your product provides immediate utility.

Tacklebox (Smart and Simple Shipping)
Customer Interviews: So you’ve decided to take your startup seriously. — Medium

Are you building a pain killer or a vitamin? Do people need a solution to this problem, or is it a “nice to have”? How do customers solve this problem now? What’s the exact process? How do they feel during this process? What are the biggest pain points? Specific products, workarounds, “hacks,” etc. How much money/time does this problem cost people now? If you can, get a sense of how much they’d pay to have it solved properly. Who has this problem… (read more)

Ben Erez (Product at Breeze)
22 Mistakes I Made as a First Time Founder — Viabilify

Only once you pass the threshold of knowing “enough” about an industry, can you really get the insights to have intelligent conversations with the people you need to know. In other words, knowing Fred Wilson is one thing but knowing Fred Wilson and being able to impress him with your knowledge of a space he’s interested in? Those are two very different outcomes for you. As a founder, you absofuckinglutely need to know your shit! There are no sh… (read more)

Entreprenuer Media (http://www.entrepreneur.com/)
The Best Ways to Do Market Research for Your Business Plan

1. Who are your customers? Describe them in terms of age, occupation, income, lifestyle, educational attainment, etc. 2. What do they buy now? Describe their buying habits relating to your product or service, including how much they buy, their favored suppliers, the most popular features and the predominant price points. 3. Why do they buy? This is the tricky one, attempting as it does to delve into consumers’ heads. 4. What will make them buy fr… (read more)

Paul Graham (Co-Founder & Partner at Y Combinator)
What Doesn’t Seem Like Work?

The stranger your tastes seem to other people, the stronger evidence they probably are of what you should do. What seems like work to other people that doesn’t seem like work to you?

Paul Graham (Co-Founder & Partner at Y Combinator)
What Doesn’t Seem Like Work?

The stranger your tastes seem to other people, the stronger evidence they probably are of what you should do. What seems like work to other people that doesn’t seem like work to you?

Paul Graham (Co-Founder & Partner at Y Combinator)
How to Be an Expert in a Changing World

Most really good startup ideas look like bad ideas at first, and many of those look bad specifically because some change in the world just switched them from bad to good.

Paul Graham (Co-Founder & Partner at Y Combinator)
Frighteningly Ambitious Startup Ideas

The biggest startup ideas are terrifying. And not just because they’d be a lot of work. The biggest ideas seem to threaten your identity: you wonder if you’d have enough ambition to carry them through.

Paul Graham (Co-Founder & Partner at Y Combinator)
Startups in 13 Sentences

Understand your users. You can envision the wealth created by a startup as a rectangle, where one side is the number of users and the other is how much you improve their lives. The second dimension is the one you have most control over. And indeed, the growth in the first will be driven by how well you do in the second.

Paul Graham (Co-Founder & Partner at Y Combinator)
How Not to Die

Another feeling that seems alarming but is in fact normal in a startup is the feeling that what you’re doing isn’t working. The reason you can expect to feel this is that what you do probably won’t work. Startups almost never get it right the first time. Much more commonly you launch something, and no one cares. Don’t assume when this happens that you’ve failed. That’s normal for startups. But don’t sit around doing nothing. Iterate.

Paul Graham (Co-Founder & Partner at Y Combinator)
Why to Not Not Start a Startup

In a sense, it’s not a problem if you don’t have a good idea, because most startups change their idea anyway. In the average Y Combinator startup, I’d guess 70% of the idea is new at the end of the first three months. Sometimes it’s 100%.

Sam Altman (President at Y Combinator)
FarmLogs – Sam Altman

Technology is about doing more with less. This is important in a lot of areas, but few as important as natural resources.

Sam Altman (President at Y Combinator)
Electrons and Atoms – Sam Altman

The key thing is enabling users to do things they do in real life much more easily yes, you could have called a cab company, but it took a long time, the cab didn’t always come, you didn’t know when it was near, you had to have cash or get a nasty look from the cabbie, etc.

Sam Altman (President at Y Combinator)
Stupid Apps and Changing the World – Sam Altman

People often accuse people in Silicon Valley of working on things that don’t matter. Often they’re right. But many very important things start out looking as if they don’t matter, and so its a very bad mistake to dismiss everything that looks trivial.

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: Thinking about business models

A business model is the architecture of a business or project. It has four elements:
What compelling reason exists for people to give you money? (or votes or donations) How do you acquire what you’re selling for less than it costs to sell it?
Shat structural insulation do you have from relentless commoditization and a price war? How will strangers find out about the business and decide to become customers?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
FIFA Xbox – AVC

Like many big deals, [EA making a FIFA game] was ridiculed at the start. That’s a sure sign you are on to something.

David Cummings (Managing Partner at Shotput Ventures)
Minimum Viable Product or Minimum Acceptable Product | David Cummings on Startups

One rule of thumb I like is that the minimum viable product should be built and launched in 90 days with the minimum acceptable product no more than 45 days after that.

David Jackson (Founder, Seeking Alpha)
Big idea? Expect a dark period, and don’t pivot out of it | A Founder’s Notebook

Big idea? Expect a dark period, and don’t pivot out of it

Dave Goldberg (Chief Executive Officer of SurveyMonkey)
Fail fast | A Founder’s Notebook

Most new ideas won’t work but you need to keep trying. Then, be ruthless about killing the ones that aren’t working and try to do it as quickly as possibl

David Jackson (Founder, Seeking Alpha)
Why startups should focus on a Job To Be Done rather than “market need” | A Founder’s Notebook

Early stage startups often describe their product as meeting a “market need”. But markets don’t have needs; real people have needs.

David Jackson (Founder, Seeking Alpha)
Passionate founders and product-market fit | A Founder’s Notebook

Is passion about obsessing over the details more than anyone else? I’m not sure. Perhaps passion enables you to understand broad needs and opportunities in a way that someone without passion cannot

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: Listening to smart vs. I’m with stupid

Challenging the status quo and going against all the the traditional rules of thumb is a great way to take a leap. But that sort of leap needs to be a portfolio play, part of a larger arc, not a matter of life and death, not the last spin of the wheel you’re going to get if you’re wrong.
[Worth noting that plenty of smart people shunned Semmelweis, Lovelace and Alan Kay. But not all of the smart people.] By all means, take these intellectual ris… (read more)

Bill Gross (CEO Idealab)
Why Startups Like Uber, Airbnb, and SpaceX Succeed, While Others Fail – Singularity HUB

Bill investigated how 5 key factors affected the success of the 125 companies in his portfolio at Idealab and 125 companies outside of his portfolio. The 5 factors were: (i) idea, (ii) team and execution, (iii) business model, (iv) funding and (v) timing. The no. 1 thing that mattered was timing. Timing accounted for 42 percent of the successes relative to failures.

Boris Wertz (Founder of version one ventures)
The only 2 ways to build a $100 million business – Version One

There are only two ways to scale a business to hit that $100 million threshold: 1. Your business has a high Life Time Value (LTV) per user. 2. Your business has a high viral co-efficient (or perhaps even a network effect) that lets you amass users cheaply.

Paul Graham (Co-Founder & Partner at Y Combinator)
Absolute Must Watch: Office Hours With Paul Graham At TC Disrupt | TechCrunch

What is your idea? Who would use it? How would they use it? Again with more detail. So they show up and specifically what do they do? Of all the people in the world who needs this the most? What problem does it solve? How do they do that now? What do you do better than that? Who specifically has this problem now (company name or customer name)? Has anybody said yes? Who says they want to use this now? (People who aren’t your friends.) How did the… (read more)

Aaron Patzer (Founder & CEO of Fountain, Mint)
How Mint Found Startup Success By Solving Real Problems

Solve a real problem. You don’t start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur and you create a company to solve a real problem.

Aaron Patzer (Founder & CEO of Fountain, Mint)
How Mint Found Startup Success By Solving Real Problems

Is this a problem that’s going to exist ten years from now?

Amir Elaguizy (CEO Cratejoy, YC Alumni)
58 things I learned at YC – Giftshop Scientist

You probably know whether or not what you’re doing is a good idea but you just aren’t admitting it to yourself.

Amir Elaguizy (CEO Cratejoy, YC Alumni)
58 things I learned at YC – Giftshop Scientist

Real businesses have customers

Amir Elaguizy (CEO Cratejoy, YC Alumni)
58 things I learned at YC – Giftshop Scientist

If there is no competition you’re probably screwed.

David Jackson (Founder, Seeking Alpha)
Why you’re not at a disadvantage if you’re a first time entrepreneur | A Founder’s Notebook

Many successful companies are founded by entrepreneurs with passion to solve a real problem of personal interest to them, or where they have domain expertise. That doesn’t lend itself to serial entrepreneurialism.

David Sacks (CEO at Zenefits)
New Sales Models – David Sacks, Founder and CEO of Yammer – YouTube

Are you in founder fantasy land wanting to “be a founder” or have you found a real market need? Once you have that do you have a product incarnation for that need? Do you have a simple interaction or user behavior that you can get users to use the product? What’s the initial simple behavior you can get a user to engage in? At PayPal it was getting users to email money. At Yammer it’s What are you working on? Do you have a scaleable distribution m… (read more)

What’s the best way to form your initial team?

Paul Graham (Co-Founder & Partner at Y Combinator)
Before the Startup

You can, however, trust your instincts about people. And in fact one of the most common mistakes young founders make is not to do that enough. They get involved with people who seem impressive, but about whom they feel some misgivings personally. Later when things blow up they say “I knew there was something off about him, but I ignored it because he seemed so impressive. “

Ben Erez (Product at Breeze)
22 Mistakes I Made as a First Time Founder — Viabilify

The first few months starting a company with your friends is an absolute blast. I mean who wouldn’t want their daily schedule to revolve around hanging out with their best friends? As it turns out, if after a few months little to no significant progress has been made, you start getting over the whole “working with friends” thing.

Ben Yoskovitz (VP Product at VarageSale, VP Product at GoInstant (acquired by Salesforce), Author of Lean Analytics)
Single Founders or Co-Founders?

Why are 2+ founders (potentially) better? For me it’s about the camaraderie and partnership that emerges when two (or more) people decide to go on such an incredible journey together. And when the going gets tough (and it always does), it’s nice to have someone sitting beside you in the dark who knows exactly how you feel.

Ben Yoskovitz (VP Product at VarageSale, VP Product at GoInstant (acquired by Salesforce), Author of Lean Analytics)
Single Founders or Co-Founders?

So what about single founders? Single founders have an advantage in that they don’t need to build consensus with other founders. They may need to bring in additional senior talent, often on the technical side (which has its own challenges), but they’re 100% in control. There’s something just simpler about it overall.

David Jackson (Founder, Seeking Alpha)
Which is better, single founder or co-founders? | A Founder’s Notebook

Seeking Alpha is a sole founder startup, but I’ve found that my relationships with some key people have developed into co-founder-like relationships

David Cummings (Managing Partner at Shotput Ventures)
Startups Should Say No to 99% of Partnership Opportunities | David Cummings on Startups

Startups should say no to 99% of partnership opportunities. Most partnerships never go anywhere and don’t make sense for the startup to invest significant effort into the relationship due to being time and money constrained. Partnership opportunities do make sense when there is significant skin in the game on behalf of the partner (e. g. large up-front fees) or a super minimal way to work together (e. g. less than 20 hours of work to get somethin… (read more)

Dharmesh Shah (Co-founder and CTO of HubSpot)
Happy Birthday HubSpot! 9 Lessons From Our First 9 Years

Don’t defer the hard co-founder questions for later. They only get harder. Have the important conversation(s) with your co-founder early. Topics might include long-term goals, fund-raising, equity allocation, vesting, etc. I’ve written an entire article with some of the questions co-founders should ask each other.

David Jackson (Founder, Seeking Alpha)
Why startup founders should learn to code | A Founder’s Notebook

Startup founders should learn to code

Jason Lemkin (Managing Director at Storm Ventures, SaaStr.com)
Jason Lemkin: The Right Metrics For Your SaaS Startup | InsightSquared

It’s going to be a 7 to 10 year journey. Take your time. First, whatever you do, make sure you get the right team. As we’ve talked about, going it alone is really tough.

Paul Graham (Co-Founder & Partner at Y Combinator)
Startups in 13 Sentences

Pick good cofounders. Cofounders are for a startup what location is for real estate. You can change anything about a house except where it is. In a startup you can change your idea easily, but changing your cofounders is hard. [1] And the success of a startup is almost always a function of its founders.

Sam Altman (President at Y Combinator)
Non-technical founder? Learn to hack – Sam Altman

When non-technical solo founders say “I’ll do whatever it takes to make this business successful” (which they almost always say), I say something like “Why not learn to hack? Although it takes many, many years to become a great hacker, you can learn to be good enough to build your site or app in a few months.

David Jackson (Founder, Seeking Alpha)
The danger of sole founder startups | A Founder’s Notebook

Seeking Alpha is a sole founder company. But we’re doing really well. Which makes me wonder what the problem is with sole founders, and how we mitigated that.

Paul Graham (Co-Founder & Partner at Y Combinator)
Why to Not Not Start a Startup

If you don’t have a cofounder, what should you do? Get one. It’s more important than anything else. If there’s no one where you live who wants to start a startup with you, move where there are people who do. If no one wants to work with you on your current idea, switch to an idea people want to work on.

Ron Conway (Founder & Co-Managing Partner @ SV Angel)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

There’s almost no companies with a single founder. Find some other people who are like-minded.

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Split the stock between the founding team evenly.

Slava Akhmechet (Founder at RethinkDB)
57 startup lessons

Always have a vesting schedule.

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

Secondly, along the same vein, if you’re starting the company with co-founders, you want to have clear vesting and rules for termination. If you have other co-founders, you should have rules where if something’s not going right, if they’re not showing up for work, that you guys have as adults, put something together. If you have a co-founder that’s no longer showing up, but they own half the company, that can be hugely problematic. Also, I’ve see… (read more)

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

Your employment agreement – this is where the key and this is another place where I made a major mistake. My recommendation is some time you incorporate and sometime around the time you’re closing your Series-A financing that you come up and put together a robust employment agreement. If you think about your relationship with the company, you’re likely being engaged to that company longer than most of your personal relationships. This is more of … (read more)

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

One of the key terms that should be in your employment contract is a cure provision. Effectively, a cure provision is that if there’s something wrong and the board wants to terminate you, you have time to actually mitigate it. They give you fair notice, you have a dialogue, you understand what the issue is and you have time to mitigate it. It’s an incredibly fair term in my opinion and something that should be in everyone’s employment contract.

Peter Thiel (Co-Founder & Partner at Founders Fund)
PAYPAL MAFIA: Reid Hoffman & Peter Thiel’s Master Class at CEIBS – YouTube

People often ask these questions about traits entrepreneurs have and I think they often have on these things are almost opposite traits that are almost combined. So you want to be very open minded but you also have to be somewhat stubborn. You want to iterate very quickly and change things very quickly but you also want to have some sort of a long-term strategy.

Phil Libin (Co-Founder & CEO of Evernote)
“The Six Crucial Questions for Every Startup Entrepreneur”, by Phil Libin (CEO of Evernote) on Vimeo

You very likely will work really really hard. The hardest you’ve ever worked. In your life, on an idea, for 3,5, 10 years and walk away with nothing. That is the most likely outcome. If you can get behind that. Then you should be an entreprenuer.

Lee Hower (General Partner of NextView Ventures)
Playing Startup – NextView Ventures

I fear a meaningful number of people are “playing startup” today. What I mean is that people are joining startups because working in a startup seems cool or lucrative, not because they want to change the world and they’re fundamentally committed to putting in all the blood, sweat, and tears that entails.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Similarities Between Building and Scaling a Product and a Company – AVC

Putting together the initial team, creating the culture, instilling the mission and values into the team are all like designing and building the initial product. It is largely about injecting your ideas, values, and passion into the team. You do that by selecting the people carefully and then working hard to get them aligned around your vision and mission. Putting a product into the market and building your initial team are largely about realizin… (read more)

Ron Conway (Founder & Co-Managing Partner @ SV Angel)
Ron Conway, Mike Maples Jr. – Angel Investing Revealed by Stanford eCorner | Free Listening on SoundCloud

Start with three people, at the end of year one it shouldn’t more than 5 or 6. Companies are most productive when they are less than 10 people.

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Management Team – While Building Product – AVC

Building product is not about having a large team to manage. It is about having a small team with the right people on it. You need product, design, and software engineering skills on the team. And you need to be focused, committed, and driven. Management at this point is all about small team dynamics; everyone on board, working together, and getting stuff done. Strong individual contributors are key in this stage. Management skills are not a requ… (read more)

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
If You Aren’t Technical, Get Technical – AVC

A few years ago, I was doing some sort of public speaking thing and in the Q&A, a young man asked me for advice for founders who aren’t technical. I said, “If you aren’t technical, I suggest you get technical” And I meant it. I learned to code when I was a teenager. It wasn’t that hard. I think anyone who has the motivation to start a company can find the motivation to learn to code.

Aaron Patzer (Founder & CEO of Fountain, Mint)
Aaron Patzer lays bare Mint’s numbers – YouTube

I lived on less than 30k a year here in Silicon Valley [during the working in a garage phase of Mint.com]

What’s the best way to compensate your legal team?

Ryan Howard (Founder @ Practice Fusion)
Transcript: Protecting yourself as the founder; Ryan Howard | VatorNews

Some of you might know this, some of you might not. It’s pretty standard stuff, but the majority of firms will, in the valley, work on, contingency upfront so think about DLA Piper, Wilson Sonsini, Fenwick, you can go to them. If they believe your idea has merit, you don’t have to pay them upfront. You can defer fees, usually $25 to $50,000 until your seed or Series A. You shouldn’t be paying your attorney upfront. You should be spending all your… (read more)

Aaron Patzer (Founder & CEO of Fountain, Mint)
Aaron Patzer lays bare Mint’s numbers – YouTube

We went to Wilson Sonsini and deferred our legal costs and gave them .5%