The Ultimate Startup List: 100 Tips for Building Your StartupBy Amanda Lewan on August 20th, 2013 /
This list is amazing. James Altucher, an entrepreneur and VC, created the “Ultimate Cheat Sheet” for startups.
The ultimate list covers everything from dividing equity, avoiding looking like an amateur, and pr/marketing advice.
From the list:
4) Should you go for venture capital money? First build a product, then get a customer, then get friends and family money (or money from revenues which is cheapest of all) and then think about raising money, But only then. Don’t be an amateur.
5) Should you patent your idea? Get customers first. Patent later. Don’t talk to lawyers until the last possible moment.
6) Should you require venture capitalists to sign NDAs? No. Nobody is going to steal your idea.
7) How much equity should you give a partner? Divide things up into these categories: manage the company, raise the money, had the idea, brings in the revenues, built the product (or performs the services). Divide up in equal portions.
Check out the full list for 100 Tips for Building Your Startup. James is also an ultimate blogger. His blog is full of great, down to Earth advice for entrepreneurs. His work is a great example of blogging, self-publishing, and using digital media to grow your own brand or business. Make sure you check it out.
What would you add on your own cheat sheet for startups?
Photo via Not Another Design.