On Entrepreneurs:
- Have a vision of how things could be to a point where it’s only a matter of time before your vision is real.
- Talk about the things in the future as though they’ve already happened today.
- Entrepreneurs don’t see the future as possible, but rather as probable
- Ask “How are you going to change the world with this product?”
- Gauge your success by how many times people recognize what you do
On Startups:
- Sell a business and don’t look back. It’s a chapter
- Be comfortable selling and moving on
- Sometimes the timing is not right to start. Keep developing until the timing is right
- Don’t go of and build something unless you’re pretty sure you’ll solve a need
On Product Development:
- First Ask “Is this something I would buy?”
- Secondly “Will the technology support this idea?”
- Thirdly “Can you solve the problem at a price that’s acceptable to the market?”
- Every year, the cost of technology decreases by 35%, thus increasing the success of your business
- Be careful of the advice given to you at product development phase
On Customers:
- Simplify the decision process; both at customer acquisition, and at secured customer
- Address the issues, be responsive and jump in. Be like Nordstrum, take the blame even if not your own
- If you don’t know the answer, find someone who does, don’t give your customers BS
- When things break, the people need someone to hold your hand
- Do your market research first
- Talk to 100 people, write down their responses, and this will represent the bigger picture
References:
David Friend of Carbonite, through Mixergy.com on 4/29/2011
