 |
|
Concept Stage:
Grow
your business effectively. |
|
| Taking your idea
forward depends on a very clear grasp of what you need to do and how you're going
to do it. You must reach the point you promised with the amount of money you raised.
So focus on the fundamentals and forget about the
nice offices -- startups don't need them. You must get the talent you need. This
might mean giving away more of the company to theCEO than you'd like, but there's no substitute.
Above all, you must be nimble. Not many companies actually execute their business
plans because something goes wrong, or the market changes, or someone comes out with
something you didn't expect. So you must understand what's important, fix what you can and
go around what you can't. Take Tandem, for example. The plan was to sell the first
product for $35,000. When it turned out that making the product would cost $50,000,
they changed the plan fast and grew to be a $2-billion company. |
|
|
|
|