The art of the start

What are some of the things that really distinguish between a startup failing and succeeding? This is a million dollar question - why Google is big, while WebCrawler faltered?

Here I discuss a few ideas related to the art of the start.

Do what you like, and the money would follow. If you start following money, you will go nowhere. The hidden idea is to unleash your creativity in designing the product/service idea that you think is revolutionary, or will change the world. The market has wonderful ways of paying for wonderful ideas. If you start focusing on money, you'll lose sight of the great product. Remember, you are in the business of making great products and services, and not in the business of making money.

For an entrepreneur, it is important to hit the market with a new idea, new product or a new service. Incremental improvements just don't cut it, because then you are competing with established companies. Unless your improvement is substantial, and nearly unreplicable, or at least difficult to replicate, you'd not succeed. You need to find a niche that's not easily replicated. Or, do something entirely different. As another example, if you hit the market with another-fast-and-cheap-database, you're probably competing with Oracle and DB2 on speed and cost. Would you succeed? Maybe, but I'd not bet my shirt on it. On the contrary, if you introduce an SQL-compliant, ultra low footprint, fast database for embedded systems, I'd say you've huge chances of success.

As an entrepreneur, one difficult task is to manage the finances. Too many good companies failed because the money just ran out. If a source of funding is available, take it by all means. Giving away a share to the Venture Capitalist (sometimes called an evangelist) is by all means worth it if it turns out to be the only difference between success and failure.