Today, the Financial Times features a story written by Chris Nuttall that focuses on the entrepreneurial experience and spirit of Loic Le Meur, founder of Seesmic and the international conference, LeWeb3. The article is entitled Share Ideas to the Maximum. While it provides an insider’s view on Loic’s journey from his first start up to becoming France’s #1 blogger and founder of beta/invite-only video conversation site, Seesmic, it also for the first time publishes Loic’s 10 tips on what to do (and not to do) when starting a startup.
Here’s an excerpt from Chris’s article:
● Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible
● Share your idea. The more you share, the more you get advice and the more you learn. Meet and talk to your competitors.
● Build a community. Use blogging and social software to make sure people hear about you.
● Listen to your community. Answer questions and build your product with their feedback.
● Gather a great team. Select those with very different skills from you. Look for people who are better than you.
● Be the first to recognise a problem. Everyone makes mistakes. Address the issue in public, learn about and correct it.
● Don’t spend time on market research. Launch test versions as early as possible. Keep improving the product in the open.
● Don’t obsess over spreadsheet business plans. They are not going to turn out as you predict, in any case.
● Don’t plan a big marketing effort. It’s much more important and powerful that your community loves the product.
● Don’t focus on getting rich. Focus on your users. Money is a consequence of success, not a goal.