came across this article on my newsfeed. Awesome Fastlane wisdom. Not one of those generic "retire a millionaire!" yahoo articles.
start with identifying a NEED:
"David Friedberg was driving home from his job at Google, stuck in traffic in the pouring rain. On the side of the road, he noticed a bike rental shop for tourists, shuttered early due to the weather. The next day, he saw the same thing, and the next — for a week. “It got to the point where I’m sure the guy who owned the place wasn’t even showing up — no one wants to ride bikes in the rain. And I thought to myself, that’s a pretty crappy business.”
Never Say ‘I Want to Do a Startup’
For Friedberg, anything worth doing has to start with a deserving problem. The desire to build companies isn’t enough to get you through the process.
“Saying you’re going to do a startup or you want to be a ‘serial entrepreneur’ has about as much meaning as saying ‘I’m going to jump off a plane."
And lastly, this comment. I would love to get the forum's opinion on this:
“There’s a 0.00006% chance of building a company that will grow to be worth more than a billion dollars. Even if you do raise money and sell a company or take it public, your median time to doing that is probably 49 months.
if your motivation for doing a startup is financial reward, you’re better off going to Google, a hedge fund, choosing a career with stable income potential.”
Read the full article here.
firstround.com/article/Theres-a-00006-Chance-of-Building-a-Billion-Dollar-Company-How-This-Man-Did-It#.UwMviLL1R8o.twitter
start with identifying a NEED:
"David Friedberg was driving home from his job at Google, stuck in traffic in the pouring rain. On the side of the road, he noticed a bike rental shop for tourists, shuttered early due to the weather. The next day, he saw the same thing, and the next — for a week. “It got to the point where I’m sure the guy who owned the place wasn’t even showing up — no one wants to ride bikes in the rain. And I thought to myself, that’s a pretty crappy business.”
Never Say ‘I Want to Do a Startup’
For Friedberg, anything worth doing has to start with a deserving problem. The desire to build companies isn’t enough to get you through the process.
“Saying you’re going to do a startup or you want to be a ‘serial entrepreneur’ has about as much meaning as saying ‘I’m going to jump off a plane."
And lastly, this comment. I would love to get the forum's opinion on this:
“There’s a 0.00006% chance of building a company that will grow to be worth more than a billion dollars. Even if you do raise money and sell a company or take it public, your median time to doing that is probably 49 months.
if your motivation for doing a startup is financial reward, you’re better off going to Google, a hedge fund, choosing a career with stable income potential.”
Read the full article here.
firstround.com/article/Theres-a-00006-Chance-of-Building-a-Billion-Dollar-Company-How-This-Man-Did-It#.UwMviLL1R8o.twitter
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