Start-up Internet company Concise Entrepreneurship Guide-YC new masters Sam Altman

This article is just a concise version of the Entrepreneurship Guide-more detailed version please see: http://startupclass.samaltman.com

before you start a business, you should be able to have a good idea, not a company. If you have a good idea or project before you start, the risk will be lower and you will enjoy more of the idea that you may sound strange but potentially bigger. the best way to create a company is to have an interesting project first .

Conversely, if you are creating a company first, you will be pressured to invest too quickly in your creativity . If this is just an idea, a project, you can devote more time to finding out what might potentially be the greater things you are willing to pay for in the precipitate of the idea, which is very important-if the idea is feasible, you may spend a considerable amount of time in getting it done.

second, you need to have at least one technical partner in your team (for example, a person who can achieve any idea you want)

Furthermore, you should choose a fast growing market rather than a large but slow-growing market, especially if you find that the fast-growing market will become very important, while others ignore it as unimportant.

the best entrepreneurial ideas are those that seem to be uninteresting and, in fact, a very good idea (heaven Zhuhai Steering Note: When Bill Gates went to IBM to seek cooperation, who would have thought that Microsoft would have today?) The idea of Bill Gates at the time was a boring and unrealistic idea for IBM's senior executives .

then your idea should be to build something that other people want. After you have an accurate goal, you can mess things up before you reach your goal, because at least you're moving forward with your goals. But if you want something that nobody wants, there's nothing to save you.

once you have transformed your mind from "interesting ideas or projects" into "corporate" models, act decisively and quickly. Instead of taking one weeks to make a decision, you should now make the decision in hours and finish it in the next few hours.

be strong enough in your heart. Make yourself tough-you have to believe that the entrepreneurial path ahead is painful and will make you doubt your decision endlessly.

find a way to turn your ideas into products and present them in front of your users. Do it Yourself (please read: http://www.paulgraham.com/ds.html))

listen attentively to the feedback your users give you, then refine your product and continue listening. Until you come up with something that some users really love (according to many talented people like Gmail's father Paul Buchheit: to build a small number of users to put down the product is more important than to build most users just feel good products .)

don't burn your money too fast, unless you're pretty sure you're building a product that users love. The best way to burn less money is not to hire too quickly.

you should have a strategic plan. In fact, many people do not have a strategic plan. Take the time to think about how you are going to perform to make your ideas into product results. In particular, remember that one day you will be monopolizing the market (as Peter Thiel, the founder of PayPal).

Before you try to raise money, read the following links:http://paulgraham.com/fr.html.

You should learn to ask yourself what you really need.

Don't take the media seriously, especially when they're feeding you sweetener.

in the early days of your start-up, you have to take profit accounting for your company.

to recruit, recruit the best talent you can find, no matter how much time you need to spend on it. Also make your employees feel as fair as possible, and have a high expectation of the company. Smart, efficient people are critical to your success. For related Aspects Please read: http://blog.samaltman.com/how-to-hire.

When hiring the wrong person should be quick to fire immediately and should not indecisive hesitant.

when you find out that someone is not in tune with you, never partner with him-the same applies to recruiting staff (including co-founders, of course), partners, investors, etc.

to find a way to absorb a large number of users (For example, bite your teeth and try to learn how sales and markets work as well as you can). Sometimes, when you are in the direction of a trend, let your users spend their customers lifetime value ( Heaven Zhuhai Branch Rudder note: "Customer lifetime Value" (Customer Lifetime value) Refers to the total amount of revenue that each purchaser may bring to the business in the future. Research shows that, like a product, customer contribution to corporate profits can be divided into the import period, rapid growth period, maturity and decline period. to follow your product should not be considered a good strategy ( Heaven Zhuhai Branch rudder Note: too many choices. For example, you want to learn poetry, Tang and song eight people, your teacher from which everyone is enough for you to learn, so you are not Su shi not teacher )

keep an eye on your users ' growth rates. A company should meet the company's CEO expectations. If you find yourself saying, "We don't really need to focus on user growth," then it's time to think about whether you're going the wrong way. At the same time, remember not to let yourself be blinded by some unreal worthless data.

Ultimately, your company needs to evolve into a mission that everyone, especially the pioneers, will devote themselves to. The "Missionary vs Mercenary" that has been abused in this industry is not a false view of the entrepreneur ( Heaven Zhuhai): Mercenaries pay attention to the money they get after completing their mission, while missionaries are interested in money, but they are more keen to explore the meaning of work, to achieve the meaning of the goal, For details, please see: http://www.ftchinese.com/story/001052793)

don't waste your time on unimportant things (for example, focus your time on building your product, communicating with users, growing your company, etc.). In general, try to avoid the scenes as seen in the movie to build your own company-keep the discussion with lawyers and accountants, non-stop meetings and discussions, with people in the outside to drink coffee and dashing discussion, in different sizes of meetings, and so on. Man, trouble you to open the company to hurry back to the company to do the product well!

put your energy in the key place. Get up every day and think about the top 2 to 3 things you need to do today to get the most out of your product, and then start doing it and don't get distracted elsewhere. Don't make excuses a habit.

Do what you can and take responsibility!

Learn to manage people. Don't forget: Let your employees work happily.

In addition to building a great product, if you really want to be successful, you still need to build a great company. So, spend more time on your corporate culture .

don't forget the importance of networking!

don't keep thinking about making money until you're not sure what you need to sell. Don't "spy on the market." Maybe some great companies in another parallel universe can still do great things after they make this mistake, but in our universe, once they break this line, the companies are dead!

Hard work is the King! Everyone wants to find a formula for success beyond effort. If this formula really exists, forgive me cruel I have not seen it in my life.

The last thing you need to do is keep on working for 10 years, and believe that you will succeed in the end.

Sam Altman

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Quoted English original: http://blog.samaltman.com/

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Start-up Internet company Concise Entrepreneurship Guide-YC new masters Sam Altman