The Passion and Perseverance Behind a Start-up

Title: The Passion and Perseverance Behind a Start-up
Date: 2005-10-19
Speaker: Joe Liemandt (Trilogy)
Link: Podcast
 
Parents view dropping out of college negatively.
Nobody will support you dropping out.
Entrepreneurship is something you need to do in your career. It is a time that is both the best and worst of your life.
Starting a company when you’re young (in or fresh out of college) is the least risk time.
They funded the company by getting lots of preapproved credit cards and using the cash advance. They got new credit cards and used the cash advance to make payments on the previous cards.
Ended up with 30 credit cards.
Bought an accelerator card on the way to a demo and returned it right after.
With a startup it is better to be lucky than right.
How much money you’re in debt when you go bankrupt is relatively irrelevant.
You can be price insensitive if you’re the only choice for something that somebody really needs.
For their first customers their charge was “What is the biggest number we can think of?”
They went three years from beginning building their product to their first sale.
It is your belief that is going to get you through.
It is never as simple and easy as you want.
If you’re starting a business make sure you’re passionate about it.
Technology can unleash business value but most of the time it doesn’t.