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Launch first, raise money second

August 29, 2007 by Akira Hirai


Launch first, raise money second

Entrepreneurs – especially software entrepreneurs – often overestimate the resources they need to launch their ventures. This problem can usually be traced to one of two causes: The first cause is when the entrepreneur envisions building and launching something that should be Version 4.0 of their product to market, rather than a bare-bones Version 0.2. Do you remember what YouTube, Facebook, and MySpace looked like the day they launched? They were much simpler versions of what they are today. Jason Fried, founder of 37signals, makes a great case for Less [Read More]

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Paul Graham’s Wisdom

August 29, 2007 by Akira Hirai


Paul Graham's essays

If you are an entrepreneur, then Paul Graham is somebody you should listen to. You can read his essays at http://paulgraham.com/articles.html. Here are just a few of my favorite passages: “What matters is not ideas, but the people who have them. Good people can fix bad ideas, but good ideas can’t save bad people.” and… “Financially, a startup is like a pass/fail course. The way to get rich from a startup is to maximize the company’s chances of succeeding, not to maximize the amount of stock you retain. So if [Read More]

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What Makes a Good Financial Spreadsheet?

July 31, 2007 by Akira Hirai


What Makes a Good Financial Spreadsheet?

We’ve seen hundreds of spreadsheets, and frankly, some are just painful to look at. In our experience, an excellent model is both “correct” and “user friendly,” and typically exhibits the following characteristics: Generates useful insights that the intended audience(s) can quickly grasp Engenders confidence that the model is working as intended Easily understood and manipulated by its intended audience(s) without requiring extensive modeling experience (e.g., all assumptions/inputs are segregated and identified, rather than buried within formulas) Easily modified and maintained by its owner as the underlying conditions change Focuses on [Read More]

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