360° Coverage : 8 Resources Every New Startup Person Should Use

2 Updates

8 Resources Every New Startup Person Should Use

Jan 28 2014, 1:01am CST | by

I’m regularly asked “What should I read if I want to start my own business?” or “I’m leaving the corporate world and I’m thinking about founding a startup — what should I do?” Today I’m celebrating...

Filed under: news

 
 
 

33 weeks ago

8 Resources Every New Startup Person Should Use

Jan 28 2014, 1:01am CST | by

I’m regularly asked “What should I read if I want to start my own business?” or “I’m leaving the corporate world and I’m thinking about founding a startup — what should I do?”

Today I’m celebrating my two year anniversary of leaving the corporate world behind. At Plated.com we recently raised our $5mm Series A financing, and while we certainly aren’t at the end of our journey, it feels like we’ve made it through our darkest days (hopefully).

Here I’ve listed the best resources to turn to when starting your own business or entering the startup world – the blogs, vendors, Twitter feeds, books, and people that I have found essential while pushing the boulder up the mountain over the last two years.

1) LegalZoom
So you want to start the next AirBnB or Uber? Before doing anything else, go incorporate on LegalZoom.com – it costs $99 (plus state filing fees) and will allow you to talk about your BUSINESS, and not just your IDEA. Taking the plunge and moving from inspiration to perspiration is the most meaningful thing you can do when you are just getting started./>

2) GoDaddy.com

Next, go find a domain, even if it sucks, and BUY it. When my cofounder Josh and I were just getting started on my couch on West 14th Street in Manhattan, we needed to incorporate, and we needed a website. Today, Plated.com is a solid brand (getting better every day), and we have spent way too much money on legal fees for both more robust incorporation and a better domain name. But in those first days, we just needed something. So we incorporated DineInFresh Inc as a C Corp in Delaware, and we bought www.DineInFresh.com on GoDaddy.com for $14.99. We had an official business. And we had an official website. Now we had the simple task of building and selling stuff…

3) Delivering Happiness
So you’ve got a legit business and website now. Awesome! What’s next? First, take a day or two and read Tony Hsieh’s “Delivering Happiness.” You might say, “Nah, dude, I just want to go build something awesome that people are going to love!” Right, if only it were as easy as that. Go read Tony’s book. He sold his first business for 200 gagillion dollars when he was in his mid-20’s less than two years after launch. After a short break, he then spent the next decade launching and building Zappos.com. Before you embark on your own entrepreneurial adventure, take some of Tony’s medicine. Tony ultimately sold Zappos to Amazon for over a billion dollars, but the roller coaster he went through along the way is a realistic and cautionary tale for any person venturing into the void of building your own business from scratch. It will help prepare you mentally for the battles, losses and victories that are to come./>

4) Lean Startup
You’re all amped up on Tony Juice, and now you’re ready to get after it. Good. Go pickup a copy of Eric Ries’ “The Lean Startup.” This is a high level book on how to take an iterative approach to building a business. Take an idea, develop a hypothesis, and work to validate or invalidate it as quickly and cost effectively as possible. Don’t spend the next month sitting on PowerPoint building the perfect investor deck. Don’t spend the next month building your financial model. Don’t even spend the next month on your website. Instead, as Ries says, get out of the building and go find and talk to potential users of your product. Josh and I spent our first two weeks at the Union Square farmers market talking to literally hundreds of different people. That in and of itself is hard. 75% of people are too busy to stop and talk. Of the remaining 25% who will actually spend five minutes talking to you, only one quarter to half of those folks will provide meaningful feedback. This is emotionally and physically draining work, but it is essential when you are just getting started./>

5) Four Steps to the Epiphany
If “The Lean Startup” is your Hemingway, then Steve Blank’s “Four Steps to the Epiphany” is your bible. Does that analogy even make sense? Probably not. But the point is that once you get an idea for how important it is to validate your idea quickly, you have to actually go do it. Blank lays out the A to Z of how to go from idea to business. My favorite quote from the book: “In a startup, it doesn’t matter if you’re 100 percent right 100 percent of the time. What matters is having forward momentum and a tight fact-based data/metrics feedback loop to help you quickly recognize and reverse any incorrect decisions. That’s why startups are agile. By the time a big company gets the committee to organize the subcommittee to pick a meeting date, your startup could have made 20 decisions, reversed five of them and implemented the fifteen that worked.” The only advantage you have as a startup is your ability to move fast and adapt to customer demands. Your startup will live and die based on your ability to make aggressive decisions and execute on them quickly. Blank lays out a fantastic framework for baking this into your DNA./>

6) Follow these people on Twitter
Twitter can be a huge waste of time. It can also be an amazing resource. If you’re not on Twitter already, then you probably shouldn’t be starting a startup. Either way, you should go follow these 10 startup and tech thought leaders: Andreessen Horowitz @A16Z, Gary Vaynerchuk @Garyvee, John Frankel @John_Frankel, Eric Hippeau @EricHippeau, Aaron Levie @Levie, Dick Costolo @DickC, Chris Dixon @CDixon, Om Malik @om, Jack Dorsey @Jack, Brooke Hammerling @Brooke/>

7) Venture Hacks
It is hard to separate the signal from the noise when it comes to anything related to startups. Today, you only need an internet connection and some free time in order to start a startup. This is great because it means being your own boss and building an impact-driven organization from scratch has never been easier. But the downside is the mass proliferation of startup related nonsense that seems to crowd every corner of the interwebs. Who can you really trust when it comes to making the right decisions around legal structure, convertible debt, founder dating, hiring programmers, and the zillion other things that will be on your plate as you start up? VentureHacks.com should be the first place you go when you have startup-related questions, whether they be “How much equity should I give our first engineer?” or “Should I incorporate as an LLC or C Corp?”/>

8) Unemployment Benefits
This might sound a bit heretical, and the Tea Party sure ain’t going to like it, but the US (and NY State in particular) has a social safety net for a reason. You’re not going to live luxuriously off of unemployment benefits, but they’re enough to keep you from starving for 4-6 months until you have validated or invalidated your idea. When I left the corporate world behind two years ago today, it took 8 months until Josh and I started taking a salary. I had a West Village apartment, business school loans, and a gym membership to pay. My wife and I transferred onto my Tricare health insurance available through the Marine Corps Reserves, and we tightened the belt. Since then, New York State has funded Plated with nearly a million dollars from the Innovate NY Fund (secured with multiples on that from our lead venture capital fund, ff Venture Capital). So what’s the take away? If you overthink your first step, twenty years from now you very well might find yourself chained to the same desk, wondering what it shoulda coulda woulda been like if you had taken the entrepreneurial plunge. I wouldn’t have been able to do what I’m doing today without the government safety net./>

What do you think? Are there any essential resources that I missed that you’d recommend for folks diving into the startup realm?

Source: Forbes Business

 
Update
2

2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH3 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Russia seeks to keep out foreigners from media business
Moscow, Sep 18 (IANS) Russia will soon introduce a bill in parliament to restrict foreign ownership in Russian media, a media report said Thursday.
 
 
France to help set up hospital in Guinea to fight Ebola
Paris, Sep 18 (IANS) French President Francois Hollande Thursday said his country would help set up a military hospital in Guinea to assist in the fight against the deadly Ebola virus in west Africa.
 
 
No plans to punish West with retaliatory sanctions: Putin
Moscow, Sep 18 (IANS/ITAR -TASS) Russia will not pressure the West with sanctions but will pursue its own interests, President Vladimir Putin said Thursday.
 
 
Pakistan aiming over 6 percent economic rise
Islamabad, Sep 18 (IANS) Pakistan is eyeing an economic growth rate of 6 percent by 2017-18 as it is believed the country's geo-political and strategic location can open up new vistas to make it a trade hub, a Pakistan minister said Thursday.
 
 
 

Latest from the Network

Kendall Jenner 'bullied' at NYFW
Kendall Jenner was allegedly ''bullied'' by fellow models at New York Fashion Week. The 18-year-old star was reportedly targeted by other runway professionals at the glamorous event last week as they were jealous of...
Read more on Celebrity Balla
 
Chris Brown will always remain friends with Rihann
Chris Brown believes he'll always remain ''great'' friends with Rihanna. The 25-year-old singer was sentenced to six months community service and placed on probation for five years for assaulting his former girlfriend...
Read more on Celebrity Balla
 
Russia, Serbia are brotherly nations: Serbian president
Belgrade, Sep 19 (IANS) Brotherhood of Serbian and Russian nations is sealed by joint fight for freedom in the First World War, Serbian President Tomislav Nikolic said Thursday, Xinhua reported. He said it while...
Read more on Politics Balla
 
France ready to launch air strikes in Iraq: Hollande
Paris, Sep 18 (IANS) French President Francois Hollande Thursday said his country was ready to launch air strikes against the Islamic State (IS) militant group in Iraq "soon". He, however, ruled out any plan to deploy...
Read more on Politics Balla
 
Russia seeks to keep out foreigners from media business
Moscow, Sep 18 (IANS) Russia will soon introduce a bill in parliament to restrict foreign ownership in Russian media, a media report said Thursday. The bill seeks to put a 20-percent ceiling on any foreign stake in...
Read more on Ad Balla
 
Stalked by ex-boyfriend Indian-origin woman falls to death
London, Sep 18 (IANS) A Indian-origin woman in Britain died after falling from a motorway bridge following weeks of harassment by her stalker ex-boyfriend and seeing him on a night out, an inquest was told Thursday....
Read more on Politics Balla
 
France to help set up hospital in Guinea to fight Ebola
Paris, Sep 18 (IANS) French President Francois Hollande Thursday said his country would help set up a military hospital in Guinea to assist in the fight against the deadly Ebola virus in west Africa. Hollande...
Read more on Business Balla
 
IS releases video of British hostage
London, Sep 18 (IANS) The Islamic State (IS) has released a video of a British hostage delivering a propaganda message on behalf of the militant group, a media report said Thursday. In the video titled "Lend Me Your...
Read more on Politics Balla
 
New iPads and OS X Yosemite Reportedly Releasing in October 2014
Apple might be not done yet to reveal new products, as a report claims that the Cupertino company is very likely to release new products in the next month.The news has been published by Apple Insider, stating about the...
Read more on Apple Balla
 
Jony Ive Talks about the Designing Difficulties of the Apple Watch
Designing the Apple Watch was not an easy task, as Jony Ive, the design head of the Cupertino company, states that it is one of the hardest assignments in his career.When asked about the particular task, Ive replied, “...
Read more on Apple Balla