1) go a small as possible with your product
2) launch several ideas at once
3) code as late as possible
4) care less about fund-raising
5) get two mentors
6) don´t take public money
7) choose team on gut feeling & check regularly
@1
in hindsight, their original startup idea, the austrian startup formerly known as gamrz, could have been broken down to six startups by itself. there is a simple check, if a startup concept is too complex: if there is an “and” in the explanation what a startup does, it´s too complex.
while rigorous a/b testing for internet startups websites is an imperative, testing different ideas or products in the same metric driven way isn´t. there is no need to actually have the different products ready to ship. it´s just about offering mock-ups through the web and analyse the customer’s reaction.
@3
nothing to be explained about that. although the most tempting thing for technical founders, as that´s where their comfort zone lays.
@4
venture capitalists do not care about startups. they want to invest as cheap as possible, as late as possible. good venture capitalists look only for market traction in their investment selection.
if entering into a new space with a startup, get two mentors from exactly this sectors. pay with convertible notes.
@6
“they are the worst”, stated andreas strong-minded. state funds are designed for classical small & medium sized enterprises. that is a too tight constraint for lean startups, which will change directions very fast in the early phase.
@7
trust in the “gut” feeling in selecting team members. writing down the thoughts about the newbie and checking those notes every two weeks to see how she progresses helps to structure.
