I recently wrote a guest post on Mashable titled 5 High-Risk, High-Reward Steps to Starting Your Dream Company, where I squash conventional the wisdom of starting a company. The article is quite extensive with real world examples, but this is a short list of the steps I identified one must take if they really want to commit to starting their dream company.
1. Quit Your Job
Conventional wisdom suggests, “Don’t quit your day job” while you start your new venture; only jump over when it shows promise. Unfortunately, this decision can be a recipe for disaster. I say quit and get to work on your vision.
2. Don’t Follow The Crowd
Oddly enough, once most entrepreneurs abandon a “normal life” and set out on their own paths, they then look at what others are doing in the industry and opt to imitate instead of originate. Following others will only get you lost in the crowd. Why not be unique and stand out from the all the rest?
3. Join Strangers, Not Friends
Conventional wisdom encourages you to bring together a few friends — people you already know and trust — to help launch your new company. In reality, starting a company is tough and many things can go wrong. Don’t let friendship get in the way as you pursue your dream.
4. Launch A Buggy Product
Which situation will produce better results: a perfect web application that took nine months to launch, or a buggy but working prototype released in four weeks that gets immediate attention from early test users? Think about it…
5. Build A Board of Advisors — Now
Conventional wisdom says that entrepreneurs don’t need to report to anyone. On the contrary. Developing a board of advisors as soon as possible will help keep a company on the right path.
Read the entire article on Mashable, 5 High-Risk, High-Reward Steps to Starting Your Dream Company.