10 Jun '13, 10am
This is a decent set of principles to stat a business with... /by @bleongcw
Been thinking a lot about the future start-up which I want to build in a few years time. Have distilled many ideas, thoughts and experience of failure into a set of guiding principles for my own consumption. 1. The business must have a direct transaction model, i.e. the consumer pays direct to the company for a purchase of the product. 2. If you control your distribution, you control your brand. Try as hard as possible, not to partner anyone from the very big to the very small. 3. Stay private as long as possible, i.e. try not to take investors’ money and focus on building revenue streams. Pay dividends to investors. Inspiration: SurveyMonkey, IKEA, Koch Industries 4. We focus on quality and product. I want to build a product that people will spread by word of mouth than to waste time to build a product to attract the wrong audience. 5. Scale means starting to make your fi...