A guide to the process used in a successful software startup, including a thorough explanation of the Customer Development process and why it is superior to the traditional product development process.
The Team Stephen Forte: Hi. This is Stephen Forte, and this is the second module in the Best Practices for Software Startups. In this module, we're going to talk about the Team. It's common in the business literature today to stress the importance of the team. By all means, the team is one of the most critical components of your software startup. During the dot com era, it was very common for venture capitalists and other investors to say the following: "I would much rather invest in an a plus team with a b minus idea than an a plus idea with a b minus team. " I also remember during that time when an entire team auctioned itself off on eBay to the first startup that can raise money to hire them. This module will go in depth into the dynamics of the team, when you should hire the team, and how you should compensate the team. Let's get started.
Funding Your Startup Hi, this is Stephen Forte. And in this module, we're going to talk about Funding Your Startup. Many times, entrepreneurs obsessed about fundraising. While funding is extremely important, you can't move forward without some cash. I find that some founders obsessed about this to the point where they're forgetting what problem they're trying to solve and what business they're trying to build. I have also seen some founders spend almost all their time raising capital. This is precious time that they should be using to do customer development. This module explains some of the ins and outs of funding but also will explain when the best time to get funding is, and why it's important. Let's face it, startups cost money no matter how you slice, you're going to spend some money. Typically, the top expenses for a startup are labor, marketing, hardware, software, hosting, and legal and accounting. In today's startup environment, a creative entrepreneur can get around some or all of these costs. ( Pause )