Geek business myths (2006)(blog.rongarret.info)
blog.rongarret.info
Geek business myths (2006)
http://blog.rongarret.info/2006/10/top-ten-geek-business-myths.html
5 comments
Myth #11: Luck isn't a factor.
Is it luck, or is it timing? Why should you launch THIS business NOW? What technology or market discontinuity is enabling your new thing to thrive?
It's both. There are many things you can do to improve your odds, including being in the right place at the right time, but at the end of the day there are a thousand random factors that you can't control that can make or break a business. And even among things you can control, many things that are obvious in retrospect are far from clear at the time that decisions need to be made.
Competition is evidence that people want what you're selling. And even if there's no competition at first, if people do want it, there soon will be.
I think a key idea is to make sure everybody who wants your thing can have it. Otherwise, you create a gap for competition to fill. This is a nice alignment of ultruism and competitive advantage... and more common than you might think.
I think a key idea is to make sure everybody who wants your thing can have it. Otherwise, you create a gap for competition to fill. This is a nice alignment of ultruism and competitive advantage... and more common than you might think.
You heard the man... Now back to work for me.
Myth #1: A brilliant idea will make you rich.
Myth #2: If you build it they will come.
Myth #3: Someone will steal your idea if you don't protect it.
Myth #4: What you think matters.
Myth #5: Financial models are bogus.
Myth #6: What you know matters more than who you know.
Myth #7: A Ph.D. means something.
Myth #8: I need $5 million to start my business
Myth #9: The idea is the most important part of my business plan.
Myth #10: Having no competition is a good thing.
Special bonus myth (free with your paid subscription): After the IPO I'll be happy.