7 + 3 Lessons From Failed Startups
Great Inc post on lessons from a failed startup include:
1. Consider the entire experience
2. Raise money when you can not when you need too
3. Don't give away equity too soon or too fast
Read the other 4 from the Inc post: https://www.inc.com/yoram-solomon/7-lessons-you-should-learn-from-my-failed-startup.html
I'd add three of my own lessons from my "failed startup":
1. Don't think in terms of success and failure, win and lose. Think about impact, learning, and potential. Startups require a more nuanced sense of win/lose.
2. Don't hire your friends even if they are the right people because you are probably blind to faults, issues, or other "round peg in square hole" problems with friends.
3. Create any startup in collaboration with customers. Don't do the "mad inventor" thing and go off and think you've created a better mousetrap. You won't. Instead, collaborate and build on what you learn from real customers facing immediate problems.
Thanks to the Cure Cancer Buzz Team we are off to a GREAT start with 3% funded on CureCancerStarter.org in the first 3 Days (UNC Lineberger is in the numbers above but not accepting donations yet, take them out and we are at 3% funded in 3 days).
You can HELP by donating to:
Vitamin D & Lunch Cancer Research
https://www.curecancerstarter.org/campaign/roswell-lungcancerresearch
Brain Cancer Vaccine
https://www.curecancerstarter.org/campaign/roswell-braincancerresearch
Personalizing Treatments For Colorectal Cancer
https://www.curecancerstarter.org/campaign/personalizing-treatment-for-colorectal-cancers
Here is my challenge to anyone creating or working in a #startup today. DONATE to one of those 3 campaigns and I will MATCH your donation dollar for dollar up to $1000.
If you email martin(at)storyofcancer.org or tweet to @ScentTrail (http://www.twittre.com/scenttrail) or @curecancerstart (http://www.twitter.com/curecancerstart ) I will post a link to your startup across our social network (about 10,000 followers who have another 500,000 followers). If your startup gives $500 or more I will write 500 words about how cool and great you are and post on Atlantic BT's PR5 blog.
If we exceed $1,000 by Friday then I will write 500 words about EVERY startup who emails me!!!
I know startups are POOR with all money and energy into the THING you are creating, but here is your chance to make a powerful content marketing ally for $50.
I've created 4 companies and am not making a PENNY from this one (true this one is COSTING me money not making any nor will it ever since I did it as a PAYBACK to cancer researchers and docs who've saved my life), but together we LAUNCH YOUR STARTUP and cure cancer in our lifetime.
Thanks, Marty
Martin(at)storyofcancer.org
Martin.Smith(at)Atlanticbt.com
cancer survivor
Founder, CureCancerStarter.org
http://www.curecancerstarter.org