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Thoughts by José Luis Agell
Getting to know Mark Suster
October 14, 2010Posted by on
I loved his talk. I found it very encouraging. He went through a list of advices mentioning clear and practical examples in each case.
- You don’t have to be a genius but you need to get started.
- Being an entrepreneur is not sexy. It’s actually awful! lots of responsibility, lots of hours,…
- You need to be passionate about it.
- You need to do research. Silicon Valley is lazy. They say you don’t have to do market research but you do!
- Get a prototype built and show it.
- Assemble a diverse team. Get outside your box. People tend to get along well with people like them. Get out!
- Huge premium for those colleagues who are taking the first leap.
- Make sure technology is part of your DNA.
- Investors want you and your team, the business idea comes later.
- Raise capital, but not too much. You’ll have time to become fat once you have product/market fit clear.
- If possible, avoid the 3 Fs. Your business is likely going to fail and you don’t want to have business issues with your acquaintances..
- Angels or VCs? Raise VC money when you ready to get on a rocket ship. Think that being funded by a VCs is like getting married.
- How do you access investors? Via other Entrepreneurs
- You need an anchor investor: invite him to be an advisor. If you show results, normally everyone follows.
Thanks Mark for the great advices!