15 Things To Know For Your First Startup

A great post from Neil Patel about things to know when starting.

  1. Swing for the fence (Aim High)
  2. Create a simple product (SMPL)
  3. Solve a problem
  4. Know your market’s price tolerance
  5. Advertising is a must
  6. Payments should be easy
  7. Be patient
  8. Premium prices have advantages
    • You appear like an authority
    • You will get fewer complaints
    • You deliver excellent customer service when focusing on a small number of clients
    • You’re reputation grows
  9. Free work can lead to lucrative work (Don’t lower your price)
  10. Never Stop Closing
  11. Eliminate everything else but the essentials (FOCUS)
  12. Always lock into your passion (It’s going to be a long, bumpy road, you might as well enjoy the trip
  13. Hire carefully (Hire Slowly, Fire Fast)
    • Test the waters yourself
    • Develop a process
    • Forget about pay
    • Consider more than talent
  14. Smart people learn from other people’s mistakes
    • Get a mentor
    • Read about business failures
  15. Cash is king
    • Use volunteers and interns
    • Work like a slave
    • Resist a fat salary
    • Don’t buy expensive office furniture
    • Keep the office space at a minimum

Source: http://bit.ly/Ocu6J6

 

Bernie

 

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