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?


May 30, 2009 Life Changing

Its funny how I fight to keep a clear view of the blessings we have every day. I hope you do too. It is easy to fall into being a cynic. Like about GM… This week it looks like General Motors is claiming bankruptcy. I can think of so many “told you so” and coulda, shoulda, needed to, etc. but oh boy… there are some people’s family lines for generations that will COMPLETELY change because of this. I hope God can use this to improve more Detroit lives (getting a new education, stronger family bonds, etc.) than tear it apart. God help those people…..
Photo: [FLICKR]

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