Eric Hahn, former CTO of Netscape, in a Red Herring interview speaking about his recipe for success:
Although every situation is different, were I to write the recipe for success in a “typical” early-stage startup, it would go something like this:
- Identify a market with an underserved need and attractive economics which could potentially be pursued by a new company.
- Build the best possible team, including an appropriate balance of domain experience and unbridled, youthful passion.
- Get into the market with the absolute minimum viable product in the absolute minimum amount of time – while maintaining quality (it’s a hard balance to achieve – this is where experience really counts).
- Do whatever it takes to delight your early customers (or users in a consumer business). Spare no expense to make every single one reference-able.
- Listen and learn from your customers, technical experiences, competitors – develop metrics with which to measure yourself and use these to incrementally expand as fast as the market and capital will allow.
via Steve Bayle.