One of our sponsors, G & M Investment Group, a Wells Fargo Advisory firm, produced a great write up on the TechBreakfast:
What is your business philosophy?
It really all boils down to: create something people want at a value that is worth it to all parties. Then just be persistent, be consistent, have focus and vision. Start small, think big, and iterate a lot. Learn from your customers. Failure is always an option. But failing really means not learning. Failure is another word from trial-and-error. If you don’t try, you won’t fail. If you don’t fail, you won’t succeed. That’s pretty much it.
What advice do you have for someone who is contemplating a startup?Make sure you’re filling a real need. It’s best if you yourself experience the pain point so you know you’re solving something real. Then just get out there. Start with something small, and prove your assumptions. Test with real customers (not mom, dad, or friends). Try to sell something as early as possible. Can it scale? What is your vision to reach the first $1 Million in revenue? Is it an easy path to identify? What are the scaling factors? Will you be making money at $1 Million revenue? If you can’t figure out a way to get there, you should rethink whether you have a business or just an idea or a hobby.