05 Aug '12, 5am

“Everything is derivative - that’s not a bad thing. Steal liberally”- Start-up lessons learned

“‘Lean’ means get to the right answer with as little time and money as possible” “I invest in people irrationally committed to a purpose” - Founders believe in a vision; maximizing their personal wealth is a side-effect, not a primary purpose. Being an entrepreneur is not a good way to make money, even though some people strike it rich. “Leap of faith question” - The premise your startup is built on. What question can you ask, where the answer will make or break your business? For example, “People will pay more for outstanding design” might have been Apple’s leap of faith in the 2000s. “People will switch to using personal productivity software on the web” could have been 37Signals’ leap of faith. “Once you decide to change, you will always wish you changed earlier” “Everything is derivative - that’s not a bad thing. Steal liberally” “We’ve got to zig and zag through the r...

Full article: http://adam.heroku.com/past/2010/4/30/startup_lessons_lea...

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