3 Things You Need For A Successful Startup

I have just been reading a very interesting essay at PaulGraham.com - all about start-ups

Find the essay here: http://www.paulgraham.com/start.html

I liked the point made in the opening paragraph in particular:

You need three things to create a successful startup:

1) To start with good people,

2) To make something customers actually want,

and

3) To spend as little money as possible.

Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed.

Paul also mentions an “Animal Test” - made me laugh, but I can see it would work

and another interesting point about startups - which I had never thought about was this:

One advantage startups have over established companies is that there are no discrimination laws about starting businesses. For example, I would be reluctant to start a startup with a woman who had small children, or was likely to have them soon. But you’re not allowed to ask prospective employees if they plan to have kids soon. Believe it or not, under current US law, you’re not even allowed to discriminate on the basis of intelligence. Whereas when you’re starting a company, you can discriminate on any basis you want about who you start it with.

Note: You cannot discriminate in whom you employ - but you can pick and choose who you will include as “partners” in your startup

Go have a read at http://www.paulgraham.com/start.html