1. Is This Your First Venture?
If you have already created and sold a venture, and you and your investors made lots of money, and you now have another good idea, call one of the investors over for coffee. Tell him or her about the idea, and decide how much of the company you would give them for a couple of million dollars. And skip item #2 below. But you may still find the remaining checklist valuable. Lots of second ventures fail, hubris being the primary culprit.
If your first venture was a failure, it might be worth evaluating honestly whether you want to do it again. Yes, you hear all the inspiring stories of folks who try and try again and fail many times before succeeding. You don’t tend to hear the stories of those who try and try again but never succeed.
In other words, are you an entrepreneur? Really.
Read more….
10 Things to Be Clear About Before You Start a Company
May 6, 2009 | readwriteweb.com