Startups are fun, exciting, and incredibly sexy. It’s a wild and crazy party just like The Social Network, right?
Right?
Well no, not usually. Not to say startups aren’t fun and exciting, because they definitely are. It was through Bionic Hippo that I realized my passion for starting my own business, and through Bandzu that I learned how to experiment, network, and put myself out there as an explorer and tinkerer publicly. I’ve met some amazing people and been a part of some even more amazing projects.
I am, by no means, a seasoned veteran of entrepreneurship – I don’t think it’s really possible to ‘learn everything’ or experience every contingency of the startup experience. Instead I believe that it is every entrepreneur’s duty to share their experiences, spread wisdom, and help others. Here are a couple words of advice.
1. No one wants to sign your NDA
Google wasn’t first to search, Microsoft wasn’t first to PCs, and Apple didn’t invent the MP3 player. ‘First to market’ is total crap, and the sooner you stop coveting your idea as some sort of godly divination, the sooner people will be more interested in what you’re doing.
It is an undeniable fact (I am going to coin the phrase “Law of Entrepreneurship”) that sharing your idea with others generates invaluable feedback necessary for your company to thrive. It is highly unlikely that someone is going to ‘steal your idea’ – wait, no. Let me clarify. Your idea is irrelevant, and no one cares about it. Dogsleds for soccer moms? Whatever.
Execution is the most valuable aspect of your business. It is, quite literally, what you do and how you do it. If you know your market, your customer, and your product well enough to generate a successful product, then you don’t need to worry about NDAs and secrecy. What can anyone do with your idea if you’ve got the passion? What are the chances you’ll be talking to someone who’s willing to drop everything they’re doing and start working on a competing product with the same level of passion and expertise as you?
And if you’re even thinking of asking an investor to sign an NDA, just slap yourself in the face right now.
2. You market, but don’t communicate
Elevator pitches are nice, but if I need to use unsuck it to decipher your barrage of buzzwords and technical jargon, then you’re not communicating, you’re marketing. It has its time and place, but it’s critical that you know when to turn on the buzzword machine and when to speak frankly with your peers and share ideas, not “ideate dynamically in a real-time cloudspace.”
Ugh.
It might feel good and empowering to use buzzwords, but almost everyone can see right through your act. Be yourself, know your product, and speak humbly. Not only will people be more receptive, but you’ll gain their respect.
3. You think you’re Mark Zuckerberg
(or rather, Jesse Eisenberg)
I’m sorry, but you’re not “The CEO… bitch.” No one is. Not even Mark Zuckerberg. Perhaps it’s just a personal pet peeve, but I absolutely cannot stand when startupers take themselves too seriously. You’re starting a company… just like the rest of the entrepreneurial community. You’re special, but no more so than anyone else. You’ve achieved nothing that someone else out there hasn’t – unless you’ve raised $41 million for a worthless iPhone app (in which case you’re STILL not special. Rovio, producer of Angry Birds, did a $42 million round a few months ago). Pwned.
As much as people hate marketing speak, they also hate cocky entrepreneurs. Be humble, realistic, and confident. The perfect blend of those three attributes will never lead you astray. Never forget where you started, where everyone else is starting, and all of the people who helped you along the way.
The golden rule: Be yourself. Always.
4. You still think you’re a startup
I realized about five months ago that Bionic Hippo is a ‘startup company’, and realized shortly afterwords that it isn’t. The difference is that startups focus on research, exploration, and creating a product. After the honeymoon (and a few hundred dollars worth of champagne), you’re left with a business kicking and screaming on your doorstep. You’ve got customers, money, death, and taxes to worry about, and it’s scary.
I love attending entrepreneurial events, but I hate seeing ‘startups’ that have been around for a year (or more) with no substantial progress, no user base, and no revenue. You can’t stay a startup forever! You’ve got a business to run. Yes, like, with a tie and a briefcase. Sort of. ish.
Don’t let go of your principles, though! If you like being small and agile, stay that way. If you are driven by exploration and invention, never lose that drive. Bionic Hippo creates web services and products amidst our busy workdays, but it’s because we still do what we love. We may be a company, but we still act like a startup. The important distinction is the lack of the word “beta” anywhere on our site, and the generation of revenue that allows us to keep doing the projects that inspire us.
5. F*ck your email signature (bonus!)
- I care about the environment, but your “Please consider the environment before printing this email” signature makes me want to choke Captain Planet.
- Is that seriously a legal disclaimer in your email? Shit, I’m scared. I also didn’t read it.
- Protip: If your email signature is longer than 4 lines, you’re trying too hard.
- Bonus tip: Don’t put your email address in your signature. I already uh.. know your email address. You sent me an email, remember?
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