Every new venture is different, but the principles for success often remain the same.
Running a start-up can make you look like a figure on an Egyptian bas-relief: Your body is going one way while your head is constantly twisted backwards to see which of your mistakes might be gaining on you.
Want to spend less time looking back at what you’ve done wrong? Embrace the classic principles of successful start-ups:
1. Money can be the root of all failure.
I know–a capital-intensive venture can require significant sums. But most businesses require little funding to get started. A venture capital friend assumes an inverse relationship between the level of funding and the long-term success of start-ups.
Short-term “success” is easy when you have money to burn. Without tons of cash you’ll work through and benefit from a problem instead of just throwing money at it.
2. Action always beats thinking.
A detailed plan is great, but stuff happens and most entrepreneurs don’t make it past the first three action items before adapting to reality. (I started a company assuming I’d provide book design services to publishers; I ended up writing books instead.) [read]