Go it alone
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Transcript of Go it alone
GO IT ALONE
By Bruce Judson
GO-IT-ALONE ENTREPRENEUR’S BUSINESS
Characteristics:
1)Started with a minimal investments
2)Run by a small number of people
3)Founder doesn’t set out to create a small business
PRINCIPLES FOR SUCCESS1)Focus on reducing the risks
2) Never get too far ahead of your customers
3) Create the ability to scale
4) Maintain an experimental attitude
5) Take yourself off the clock
6) Only use off-the-shelf products and services
DO WHAT YOU DO BEST
Choose your business idea
What do you do best?
Does your idea fit with your core competence?
HOW TO CREATE YOUR BUSINESS SYSTEM
Leverage your core competence through relentless repeatability
Identify the important metrics Make time work for you Take advantage of the benefits
of scale Follow the 60% Rule Build for flexibility Make your own luck
THE ABOUT START-UPS
1)Extraordinary risk is essential to success
2)Real businesses are funded by venture capital
3)The size of employee parking lot matters
MANAGING EXTREME OUTSOURCING
Trust and coordinationDefine outsourcing broadlyThe brain vs. the arms and legs
Plan for and expect evolutionRemember, simplicity always winsMonitor competitors
WHEN TO QUIT YOUR DAY JOB
Don’t quit until you have no time to sleep
What do you tell your boss?
FEAR IS THE ENEMY
You gain strength, courage, and confidence by every experience in which you
really stop to look fear in the face… You must do the thing which you think you cannot
do.
Eleanor Roosevelt