

Geek business myths (2006) - luu
http://blog.rongarret.info/2006/10/top-ten-geek-business-myths.html

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spodek
Here are the myths from the post, which the author explains. If you believe
any of them, you'll probably benefit from reading the explanations, which I
found helpful and brief.

Myth #1: A brilliant idea will make you rich.

Myth #2: If you build it they will come.

Myth #3: Someone will steal your idea if you don't protect it.

Myth #4: What you think matters.

Myth #5: Financial models are bogus.

Myth #6: What you know matters more than who you know.

Myth #7: A Ph.D. means something.

Myth #8: I need $5 million to start my business

Myth #9: The idea is the most important part of my business plan.

Myth #10: Having no competition is a good thing.

Special bonus myth (free with your paid subscription): After the IPO I'll be
happy.

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walshemj
no #1 relating to employment is "I don't need to worry there is a law against
that isn't there"

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Gormo
What?

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Ygg2
Myth #11: Luck isn't a factor.

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paul_f
Is it luck, or is it timing? Why should you launch THIS business NOW? What
technology or market discontinuity is enabling your new thing to thrive?

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lisper
It's both. There are many things you can do to improve your odds, including
being in the right place at the right time, but at the end of the day there
are a thousand random factors that you can't control that can make or break a
business. And even among things you can control, many things that are obvious
in retrospect are far from clear at the time that decisions need to be made.

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hyp0
Competition is evidence that people want what you're selling. And even if
there's no competition at first, if people do want it, there soon will be.

I think a key idea is to make sure everybody who wants your thing can have it.
Otherwise, you create a gap for competition to fill. This is a nice alignment
of ultruism and competitive advantage... and more common than you might think.

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usumoio
You heard the man... Now back to work for me.

