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January 10, 2008

Start-Up Success: The First Five Things

Number 5I’m working with a new client on an embroynic (more like a zygote) start-up, which is always exciting, particularly when working with someone who knows how to put first things first.

Here’s the list, in no particular order:

1. Grab the domains (URLs) for potential company names.
In today’s Web World, your online office address is crucial. So what if you don’t use a couple of ‘em? You’re out a few bucks. (But, do buy .com addresses. That’s how people are used to looking for businesses.) Go Daddy (despite their cheesy web site) makes it very easy to buy those domains.

2. Get people to “pencil in” working with you. Certainly, everyone wants to get paid, but if we’re excited, we’ll keep a place open on our calendar for you. (Related Post: Start-Up Success - People Before Plan)

3. Think BIG. What’s the BIG goal? Then work back from there. Your biz plan can be on a stickie note, if you’ve got the right people helping implement. Just say “make it so” and it gets done.

4. Get small. Don’t try to do everything at once or be all things to all people. These are mistakes I often see in many entrepreneurs’ initial biz plans and investor presentations. Talking world domination, multiple product lines, multi-tiered channels and multi-billion markets…when they’ve got two people and no product.

Chop that big goal into bite-sized chunks that can actually be done (keeping that stickie note in mind.)

5. Talk to potential customers NOW.
Get their feedback, buy-in…and - maybe, just maybe - seed funding…hmmmm….Beats doing a VC road show.

Thinking about starting something? Here’s a free tool for you:
One-Hour Business Plan (one-page PDF - quick exercise, using - yep - stickie notes!)

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