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.
Watch out for wearables. They are the hottest thing trending. Good time to look at tech startups on IndieGoGo and Kickstarter.
Companies like Samsung Semiconductors, Intel, Silicon Labs and LM Technologies focused on combining multiple functions onto single chips, emphasising how closely silicon design now needs to be integrated much more tightly than ever before into overall systems.
QuickLogic showed its ArcticLink processor and sensor hub, specifically designed for low power operations, while Irish company Shimmer demonstrated its range of wireless sensor platforms that include ECG (Electrocardiography), EMG (Electromyography) and GSR (Galvanic Skin Response)
Have we all seen the TED talk on video integration of sound..... your green plants are listening !