12 Mistakes Not To Make when starting up your 2.0 company (2008)

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Information about 12 Mistakes Not To Make when starting up your 2.0 company (2008)

Published on March 4, 2008

Author: katielips

Source: slideshare.net

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12 mistakes not to make when you launch a (UK based) startup. Presentation given at Barcamp Manchester UK. Includes some mistakes we made, some we didn’t, and some suggestions from the Barcamp audience. Presentation sponsored by Treasuremytext: The simple way to save your favorite SMS messages online.

12 mistakes not to make when you launch a (UK based) startup

Presentation given at Barcamp Manchester UK. Includes some mistakes we made, some we didn’t, and some suggestions from the Barcamp audience.

Presentation sponsored by Treasuremytext: The simple way to save your favorite SMS messages online. http://beta.treasuremytext.com

No 12 Don’t rent expensive Office Space! (If you don’t really need it) Instead consider working from home or your local coffee house and holding meetings in the wonderful e-office: http://www.eoffice.net/

No 11 Don’t waste money on expensive services Instead use online project management tools and accounting software, simple site monitoring services and people powered customer support. http://www.basecamphq.com http://www.xero.com http://pingdom.com http://www.getsatisfaction.com

No 10 Give up your day job (or don’t!) Be decisive about this. If you can dedicate 100% your startup will grow quicker and better (of course!) If you can’t, be careful not to alienate yourself from your employer. Become a freelancer and earn cash from consultancy. http://www.ifreelance.com

No 9 Don't waste time on protecting what can't be protected Web applications are incredibly hard to patent. Your IP may not be protectable: execute your idea well, grow your community. Lay claim to an idea by blogging about it. Go public, become the experts, get known as the people who do (whatever it is you do).

No 8 9 Don't waste time courting old fashioned funding Local and government schemes are setup to support innovation and enterprise. You may offer both but if funding organisations want protectable IP (in a twentieth century way) you need to look to 21st century funding models. Find an Angel investor to help get you started. http://www.lbangels.co.uk/

No 8 Don’t be shy Instead, get involved in your local startup and web2.0 community. Go to events. Host events. Ask for feedback. Your peers know their stuff too and may offer valuable advice. They’re your community, they’ll help generate the buzz around your service: http://barcamp.org http://creativecoffeeclub.com http://opencoffee.ning.com http://geekup.org/

No 7 Don't assume because you know how to make a web application that you know about marketing, business, fundraising, finance... ... ... If you don’t know this stuff, find someone that does.

No 6 Don't forget the UK is part of Europe and the world A no frills flight to Europe can cost less than a train to London! Learn from the Europeans for starters. http://www.easyjet.com http://www.jet2.com http://www.ryanair.com A tip: they all speak really good English in Europe!

No 5 Don't push the red button and expect anyone to know you exist Talk about your service. Shout about your service. Scream about your service. It’s now easier to generate a great following using Social Media principles, but it takes time and effort. Don’t underestimate it!

No 4 Don’t believe the 2.0 hype; there are plenty of people who don’t read Techcrunch Perhaps your customers don’t read Techrunch. What do they read? Find out and get written about there.

No 3 Don't give up Have the courage to keep going through thte tricky bits. Ask for help if you need to.

No 2 Know when to give up If it clearly is never going to work, then do give up! Move on to pastures new. Take what you’ve learnt and don’t make the mistakes next time.

No 1 A website alone is not a business What’s your business model? How can you monetize your service? Make sure you have an actual business model.

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