I would not say I know much about start-ups although I suppose I know much about getting started. My experiences is mainly in the nuts and bolts of starting up the operations of a business. Creation of bank accounts, telephone systems, HR issues, payroll, office space and the such. Most of my practical experience come from the creation of multiple production offices and companies.
There is of course a whole world of start-up experiences beyond these daily nuts and bolts issues.
Start-up’s have been much on my mind of late as I have been pondering what will now be next weeks ExecTec networking topic (if you are not already familiar with my networking efforts in LA I welcome you to learn more here).
Here is a part of the topic for this Tuesday’s dinner:
What does it take to start up a new idea? We all have ideas but few actually act on these ideas. There are many obstacles on the way to getting started and more then a few have fallen victim to the bigger issues of funding, intellectual property issues, prototyping, business planning and basic execution of an idea.
What are you in it for and are your partners in it for the same thing? Will your business be a life style business that allows you to gain income with little or no effort in the end or are you trying to create a cash flow business that will generate serious revenue? Do you wish to be rich or do you want to be master of your vision and company?
Is your idea compatible with VC funding or would you be better off with more traditional business funding?
What separates inspiration from conversion? Can you be sure your idea is worth the risk? What should be your first step? Is it even safe to talk about the idea?
Do you focus on the product, the funding or the sales?
Getting outside advice is critical the question is where to get quality advise without loosing your shirt or idea?
My dinner on Tuesday will be the first of a series of opportunities to join others in exploring the world of start-ups.
Amanda another ExecTec member will follow along on Thursday at her LA Agile & Scrum User Group discussing “How do you get a new idea off the ground?”
Andrew Warner is hosting his "Getting Your Startup Funded? Mixergy Forum the week after and if you did not catch his excellent interview with Dan Gould that he did in as a lead up to this event it is well worth a listen as well as some of the other materials he has posted on his blog.
Lots of good thoughts and lots of good opportunities to start getting connected!