Kendall's "Internet startup checklist":

1. Idea:

  1. Would YOU write a check for your idea?
  2. Don't spill your candy in the lobby.
  3. Is your idea refining or revolutionizing?

2. Funding:

  1. Are your financials realistic if nothing goes right?
  2. Could you see your investors with a 10X, 20X return in 3 years?
  3. Do you have back-up plans b,c,d before quitting your day job?
  4. Do you have a great answer for the most cynical of investors?

3. team:

  1. Can you build your idea or will it take a team of pros?
  2. Is a specific person on your team essential or can he/she be replaced?
  3. Dont give up the farm to recruit talent.
  4. Hire brave & passionate smart people.

4. Product:

  1. Does your product SOLVE a problem?
  2. Beware of feature creep! Customers & prospects add features, not developers.
  3. Stay focused on money earning features, not cool ones.

5. Marketing:

  1. Is it costly (time/resources) to get branded in your target market?
  2. Make a goal of closing a core group of customers the first year. (traction)
  3. Adjust marketing resources to get traction (don't need much).
  4. Be sure to test your "seo / ad-words / ad-sense" properly before banking on them
  5. Nothing is better than "boots on the street." Start knocking on doors.

6. Customer:

  1. How many "loss leaders" do you have?
  2. Does your idea help your customer or is it just a "nice to have"?
  3. Make each customer feel like they are the only customer you have.
  4. Can your customers be up-sold? Do they have peers they could refer?


February 12, 2009 Happy 200th Birthday

000000021

Lost job in 1832.
Defeated for state legislature in 1832.
Failed in business in 1833.
Elected to state legislature in 1834.
Sweetheart died in 1835.
Had nervous breakdown in 1836.
Defeated for Speaker in 1838.
Defeated for nomination for Congress in 1843.
Elected to Congress in 1846.
Lost renomination in 1848.
Rejected for land officer in 1849.
Defeated for U.S. Senate in 1854.
Defeated for nomination for Vice President in 1856.
Defeated for U.S. Senate in 1858.
Elected President in 1860.

HAPPY 200TH BIRTHDAY CAPTAIN MY CAPTAIN

Want to comment? Comments: 1

Posted by Kendall in Leadership

1 comment so far

  1. What do you think of our current President comparing himself to Lincoln?

    February 20th, 2009

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