Entrepreneurship Revealed

May 29, 2011

No more of that start up stuff for the goose. We had a couple of lucky breaks, and I learned one big thing from my Internet start up antics. Not surprisingly, my single learning is not the focus of Discover the Patterns of “Successful Internet Startup in the Startup Genome Report.” The write up is chock full of juicy factoids, and I urge you to read the article and before you write a check or ask mom, a vulture, or your local, very friendly banker to write checks, get the full study. Consulting services? Give the outfit a jingle.

Here are some factoids:

“Focus on what matters most and their complete dedication to improving their craft.” My interpretation: be good at stuff like knowing what to do and how to get the important stuff done.
“Find a repeatable and scalable business model.” My interpretation: generate revenue and keep generating revenue.
“Startups that pivot once or twice times raise 2.5x more money, have 3.6x better user growth, and are 52% less likely to scale prematurely than startups that pivot more than 2 times or not at all.” My interpretation: I have absolutely no idea what this means.

You can download the report for free, examine an “infographic”, and interact with the study professionals.

Oh, what was my learning from the Point (Top 5% of the Internet) and several other startups. Luck is important. And luck is right up there at knowing how to master technology, not allowing technology to master me.

Would I do another startup? Nope. Too old, fat, lazy, and stupid. Just last week I had to fire a 30 something who wanted me to stand by. At age 66, I don’t stand by. That’s a concept for the same folks who create start ups, think those who write checks are really former Peace Corp. volunteers, and that knowing how to do the right thing at the precise moment are silly ideas.

Download the report at http://startupgenome.cc/pages/startup-genome-report-1. Study methodology is at http://www.systemmalfunction.com/2011/05/deciphering-genome-of-startups.html

Stephen E Arnold, May 29, 2011

Sponsored by ArnoldIT.com, the resource for enterprise search information and current news about data fusion

Written by Stephen E. Arnold · Filed Under Business strategy, Consulting, Financial, Marketing, News

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Stephen E. Arnold monitors search, content processing, text mining and related topics from his high-tech nerve center in rural Kentucky. He tries to winnow the goose feathers from the giblets. He works with colleagues worldwide to make this Web log useful to those who want to go "beyond search". Contact him at sa [at] arnoldit.com. His Web site with additional information about search is arnoldit.com.