There is a great post on “This is going to be big” about launching a web 2.0 company (thanks Hylton for the pointer).
Some of the 10 steps to be successful are great:
- solve the smallest problem still worth solving
- get a responsive and chatty audience
- launch stuff every day
- don’t hold users against their will
- be mindnumbingly simple
- get people hooked on free
- don’t waste your money on marketing
- don’t overfund
- no one sucks
The don’t waste money on marketing and the don’t overfund are especially ringing true for me. So many companies are talking about raising money, but when you ask what they would do differently with the money – they don’t have a good answer.
This is the wave where you can have one man bands host millions of users every month (true story). And if you believe Business Week (here – requires registration) – the web 2.0 companies so far have been built on $60M of venture money vs. $19.9B for the wave 1.0.
It’s a fun time to be around – that is for sure.