Just thoughts, take what it for what you will…. I know there were only ten commandments but tablets have got more storage capacity so here’s a baker’s dozen.
1. Have a software developer willing to help/work for sweat equity. Without them you’re dead.
2. Figure out revenue, not funding opportunities, from day one. Target market segments etc.
3. The app economy is dead so get those ideas out of your head. Tell me which NI apps have “made it” with £1m+ rev?
4. Use PoC funds wisely, dev houses are expensive and make sure you are in control and own code. If not, go elsewhere
5. Treat startup events with caution. What will you learn and who will you meet? Doing the rounds wastes time.
6. The community is small, so don’t mess about, be nice to everyone you meet. Karma etc.
7. SRBI Competitions are good blocks of revenue while you get up and running. Good for network too.
8. Beware the Church of Lean.
9. Coffee shops are expensive, buy a kettle. Keep expenses low low low.
10. Download the @Mattermark app for iOS and look at your competitors, their growth score and what they raised. Wake up call.
11. Look at all the destination airports from Belfast. Those are your first tier customers.
12. Don’t apply for incubator or accelerator without a tech dev, you can’t sell something that doesn’t exist.
13. If you’re going to an analytics company avg minimum seed is about $5m.