I had a few take-aways but the only one I can remember (because I wrote it down) was that there are about 1000 apps produced per minute in the world.
Actually there were some others such as:
- need to have a very solid business model
- (once again) if your business can be global say so
- (once again) it's the solution not the technology
- have a robust capitalisation plan - don't take more than is needed as that will dilute your ownership more than needed ...
- ... and don't be too blase about dilution because if you no longer have ownership of the business your investor may panic one day and tell you to take a course of action which you don't believe in.
- It can take 5 or 7 years for investors to get a decent return (via IPO or whatever) and some of the mainstream hi tech companies that are around (e.g. Facebook, Twitter, Google etc.) were started 10 or more years ago.
- Once established companies, which are successful, don't really pivot.
This morning I went to a startup event covering the legals around data protection. The main takeaway was:
- learn more German.
This evening I want to a lean startup event about Concierge MVP and "don't think about scaling when starting".
No real takeaways - it was thought provoking not that I necessarily agreed with everything, oh wait, there was one:
- develop lean and incrementally (I won't say Agile because that is hipster bull shit) but don't spend 10 months getting a system implemented and then immediately realise that it is hopelessly wrong.
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