Thanks for highlighting this one Mick - It is a bugbear of mine having heard it so much from first-timers in the valley recently.
I have had the privilege of Mark's advice over the past year and I subscribe to his views on 'fail fast'. I think the semantics will be debated but the net of the thinking that I completely subscribe to is this: 1) Business plans are not so much useful to show the expected outcome as they are to demonstrate the quality of your thinking. Investors (and you) are aware that things change and nothing goes to plan, but if your plan is patently flawed from the beginning an investor can help point that out. 2) Learn fast and do so as cheaply as possible. In order to learn you need to be consciously competent/incompetent - IE Make a plan and then know what levers you are pulling to arrive at a certain outcome. 3) Treat customers and investors with the utmost respect - Never flippantly burn customers/employees/partners/investors to achieve your 'learning'. 4) Throwing stuff at the wall as fast as possible without a considered, cogent line of thought is inefficient, chips away at relationships and can damage reputation - It is just irresponsible. On Jun 13, 9:04 pm, "Mick Liubinskas (Pollenizer)" <bigm...@gmail.com> wrote: > There is an interesting blog post on the idea of fail fast; > > http://www.bothsidesofthetable.com/2010/03/11/the-fail-fast-mantra-ne... > > It's from a guy who has had some successful startups and is now a VC. > > There is no 'one way' to build a great startup and even with his model > there is a lot of learnings needed. > > Interested to hear peoples thoughts. > > Mick "Failed a bunch" Liubinskas -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://groups.google.com/group/silicon-beach-australia/msg/351e183e1303508d?hl=en%3Fhl%3Den No lurkers! It is expected that you introduce yourself. To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
