I found more interesting notes on ‘Future of Web Apps SF 2006‘ conference.
Special thnx to Juixe for providing the Conference Notes (PDF).
This time it contains information on “Funding and Selling a Startup” from Evan Williams, the man behind Blogger (now part of google services) and Odeo.
Quota : “Evan was at the Future of Web Apps
conference in San Francisco to talk about his experience with web
entrepreneurship. Evan’s talk was titled Selling and Funding: Pros and Cons of
Bringing in a Third Party.
During his talk, Evan noted several rules for a web startup. These rules
included: be user-centric, be self-centered, be greedy, be tiny, and be
balanced. Having given out a few rules for a startup, Evan spent most of his
time talking about his five best Odeo screw-ups.
Evan’s first mistake when building Odeo was to try to build too much. He
talked that mentioned that they had written large number of verbose specs and
in the end they were not the first in the market.
Evan’s second screw up was building a service for people not like themselves.
In an essence, Evan stated that they did not ‘eat their own dog food.’ In general,
it is a good idea to use the freaking service you are building!
The third major screw up that Evan learned from his second entrepreneur endeavor was not adjusting fast enough. All these web 2.0 applications are all trying to keep up with the Joneses. Someone integrate with Google Maps, your web application needs to integrate with Google Maps. They start tagging your service start tagging. Evan
reminded the audience to try to be a purple cow, not a mee too application.
Another screw up mentioned by Evan of Odeo was raising too much money,
too early. Raising too much money almost seems counterintuitive. Raising too
much money was not heard in the web 1.0 era when champagne bottle was
served for breakfast and companies had a $10 million burn rate a month. Evan
said to “think of money as fuel.” If you have the fuel before the engine, you
start thinking about the fuel. He said, “What do you do with soo much fuel,
you drop some on the floor and light it on fire.” Kevin Rose and Michael
Arrington echoed Evan’s thought on raising cash, raising money is about
timing.
The last screw up mentioned by Evan of his experience from building Odeo was
not listening to his gut, his techie intuition, in hiring, raising moola, and building
the ‘right’ product. Evan quoted Markus Frind of Plenty of Fish who said, ‘The
enemy was thinking.’”
This is my conclusion of what Evan is saying:
- be unique, think out-side the box
- be up-to-date,watch the market and study trends
- grow step by step, take the time to evolve
- follow you instinct
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