In his book Against the Gods: The remarkable story of risk, P.L. Bernstein pointed out the top 10 human decision making behaviours that people continuously making, in error, without realising it. It’s a good thing to familiarize oneself with these, as well as other cognitive fallacies, both in order to avoid them, and as an entrepreneur, to know how to best capitalize off of them (in an ethical way, of course).
Every good technology company needs great people. The best companies invest time, money, and sweat equity into becoming world-class recruiting machines. But how far should you take your quest to build the world's greatest team? Is it fair game to hire employees from your friend's company? Will you still be friends?
Make a ten year plan. Make sure you can survive for 10 years, because the software products that bring in a billion dollars a year all took that long. Don’t get too hung up on your version 1 and don’t think, for a minute, that you have any hope of reaching large markets with your first version. Good software, like wine, takes time.
That worked well for Twitter with respect to carriers and (with lots of legal troubles along the way) for Youtube with respect to content providers.A That is admittedly difficult to pull off and very few services will reach the scale where they have that much clout.A But being totally focused on delivering the best experience (without regard to protecting someone else's legacy business) and developing some amount of consumer momentum is likely to put you in a much better position than having your business torn in two different directions from the get go.
Disclaimer: this is our own custom process & philosophy which will work best at small startups. Rather than going into the details of how we execute (since each team is different), I'll share the philosophy that drives our culture. As your company grows, you'll have to implement more formal processes like those at Facebook (but that's a good problem to have!)
I think we're seeing only the beginning of the tablet market right now. We are where smart phones were 4 years ago and the space is really going to heat up. Competitors have the chance to do the same thing to Apple that PC makers did two decades ago.
Higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.
When you launch your project promoting is very important. You cannot expect that people will find you. You can have a genius service but people will not find you by themselves. We try promotion using some blogs but it was not very successful and did not correspond with our target group very much. Traffic is not important, conversions are. You can be happy about high traffic but then you will get sad looking at the registration numbers.
Bloggers are getting their opinions out there while helping promote authors who might otherwise miss out on an audience, but does the quality of the review suffer?