What I will tell my kids if they become entrepreneurs
Idea
Team
Fundraising
Execution
Market
Competition
Money & Risk
Success
Tools
IDEA
Somewhere, someone already had your idea
Don't waste too much time thinking you're a genius
Your idea is 1% of success
In all businesses, idea had precedence
Execution > idea
Especially, when executed better and faster
Team > idea
A good or bad idea depends on team
A great team makes bad idea flourish
Product > idea
It all depends on implementation of the idea
Startup = idea + execution + product + team + luck
Networking
Talk about your idea to as many people as possible
You will get feedback, challenges, referrals, unexpected connections
Great ideas have lonely childhoods
Great ideas have look terrible at the beginning
The more disruptive your idea, the less people will understand it
Don't worry too much about your company's name. You grow a name
Sources of Ideas
Every new technology is an opportunity: look for gaps between how things have been done and how they can be done
Every asleep industry is an opportunity: do things incumbents can't or won't do because the economics don't make sense to them, or because technically they can't
Sources of Ideas
Every unconventional user is an opportunity: go after those who are already behaving like everybody will behave in the future
Crisis are full of opportunities
Vision vs feedback
In absence of vision rely on feedback
With a clear vision you can ignore feedback
Friends & family might not give you truthful feedback