1- Tackle a problem that nobody else has solved yet (the bigger the better)
2- Organize a team of incredibly competent people, that have the best chance of solving the problem as quickly as possible.
– Great people rally around great purpose over great resources.
3- Secure the capital necessary to buy your team the time and tools necessary to solve the problem
– And/or offer an early stage version of your product so that you can survive on cash flow.
4- Experiment with marketing it through every possible channel that makes sense.
– Wherever you get positive results, invest more and maximize the potential.
5- Actively seek feedback and criticism to make your solution the best it can be.
6- In an effort to generate cash flow, don’t forget the main problem you are trying to solve and don’t try to tackle too many problems.
– You have limited resources, and your success will depend on the size of the problem you solve (demand) and how well you solve it (execution)
7- If you aren’t the starter, you can still be a finisher- join a team doing something you are excited about
– You aren’t going to change the world alone.
8- Don’t just try to make a living, make a difference!
– Remember #1, the problem you are trying to solve is your compass and your purpose.
If you aren’t excited by the top problem you are solving, it’s likely that neither is your team or your customers. Solution: Find a new problem to solve, or find a meaningful way to reframe what you’re doing.
9- Your chosen problem AND ability to solve it, is your brand- this is what you will be known for.
10- If you are trying to solve a problem that has no potential for profit, sometimes doing business in an unrelated field can help you get there.