Ten things we’ve learnt in six months of startup life


YogiBirth co-founders Laura Myers and Tom Ray. Source: Supplied.

1. Get a whiteboard

The best tax-deductible investment we’ve made. We run our business from a $120 double-sided whiteboard every day.

2. If you can’t explain it simply enough, you don’t understand it well enough

One of Einstein’s supposed pearls of wisdom that is very apt for budding and experienced entrepreneurs alike.

3. Is the juice worth the squeeze?

If it is, keep going. If it isn’t, cut it and move on.

4. Use your BRAIN when making decisions

Benefits: how much better off am I by doing this?

5. Continually reinvent yourself

Become egoless, swallow your pride and make yourself uncomfortable each day. Our two daily goals are simply to learn a new skill and do more right than wrong.

6. Outsource, wisely

Resources such as Upwork can be invaluable (with the right freelancer). Dividing and conquering can increase your speed. However, don’t be afraid to DIY tasks you’ve yet to master.

7. Shake it off and jog on

You’re going to cock-up, probably daily.

8. The idea is 5%, execution is 95%

We all have that friend who said they came up with Uber before Uber. Don’t be that friend.

9. Think about your diet and booze

Alcohol is a depressant — it affects your thoughts, feelings and actions. You’ve probably only got one shot at this, two if you’re lucky. Look after yourself and ease back on the booze.

10. Find different skills in a co-founder, not the same

To be challenged and grow, you need to be a small team with a broad range of skills. If you’re a technical co-founder or domain expert, find someone who is, for example, good at sales and marketing, and vice versa.

This piece was first published on Medium and has been republished with permission.

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Storewall Australia
2 years ago

My thoughts on this are that if you have an idea, start it as a part-time/casual venture first before diving in full-time.

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