XMind

How To Bootstrap A Startup

1. Solve a Problem YOU Have

   1. In a Huge Market

2. Develop a Sustainable Advantage

3. Devote Yourself to Your Startup

4. You Have to Fail to Learn How To Win

   1. Experience is more Important Than Knowledge

   2. 90% of the Startups fail at their first attempt.

   3. You learn a LOT from your failures.

5. Network Like Crazy

6. Quit Your Day Job

   1. You can't?

      1. Or at least, spare a "considerable" amount of time for your startup

      2. It's hard to motivate yourself

         1. Have Passion

         2. Have a Vision

         3. Believe in Yourself

         4. Find Someone to Believe in You

      3. It's hard to be a hero

         1. No pain, no gain

         2. Batman works at nights ;)

   2. Self doubt is okay

   3. It's a lonely way

      1. in the beginning at least.

   4. Work hard

   5. It doesn't matter if you don't have experience

      1. You'll learn on the way

7. Big Companies Suck

   1. ... well most of them ;)

   2. Work in A Startup

      1. So That You can Found Your Own

      2. I've Worked in 3 Startups

         1. And I've learned hell a lot of things there

            1. It's hard work

               1. but you reap the benefits

                  1. if you're clever enogh

            2. More than you can learn, if you've worked in a big corporation all your life.

         2. I know how the air feels inside

         3. which three?

            1. one of which was a total failure

               1. it happens

               2. not worth mentioning the name

            2. one of which been acquired for >4 million Euros

               1. cember.net

               2. Dude, that's good money!

            3. and one I currently am the architect of

               1. MessengerFX.com

      3. Observe what they do wrong

         1. Failure to See the Whole

         2. Failure to Lead

         3. Failure to Share a Common Vision

         4. Failure to Support Employees

            1. morally

            2. and financially

         5. Not Rewarding Hard Work

            1. Even saying "thank you" is a reward

      4. Observe what they do right

8. Learn How To Hire People

   1. Hiring is everything

   2. Hire people who can complement each other

   3. Hire people better than you

      1. and let them work

      2. trust in them

      3. but do not leave them uncontrolled

9. Learn Management and Executive Skills

   1. 0.1% of people out there are born with

      1. guts

      2. insight

      3. charisma

      4. ability to drive people

      5. a natural ability to lead

      6. I hate them too!

   2. But you can train yourself

      1. It's not a result

      2. It's a gradual process

      3. That you'll master eventually

1. Knowlege is Power

   1. Money is Power

      1. Experience is More Important than Money ;)

         1. more important than funding

         2. more important than profits generated

         3. more important than hits, visits, leads...