logo
logo

My 9 rules for building viable startups: Advice from a startup studio

avatar
Steven Restivo
Jun 05, 2016 13:45
img

For the most part, ideas are in-house, built from scratch to validate a business idea and spin it off as an independent startup, with the studio retaining a portion of the equity.When the startup studio I work with, Pioneer Square Labs, started — just nine months ago —  there wasn t a lot of open knowledge to draw from on how to run this kind of business.

It s similar to when Y Combinator and TechStars got started and the accelerator model wasn t well understood.

Many variations on the accelerator model have since been tried  —  some have failed, some have succeeded  —  and there is a body of information and expertise out there for the next entrepreneur trying to create an accelerator.So I wanted to share some key lessons we ve learned so far about running a startup studio.Of the many lessons we ve gleaned so far, I ve chosen the following nine because they are easy to articulate and don t feel obvious that s a dangerous statement since most of these will sound obvious after you read them, but when you are in the trenches executing a business, not everything is so clear .I won t go into our ideation process, but I can tell that it s not uncommon for someone to propose an idea and then find that there are already three companies executing it.

If you agree with my point 4 above — that good ideas come from the collision of other ideas — it s easy to see why diversity in thinking, background, and experiences is the best source of raw idea-material.Gender diversity is important, but so are all other dimensions of diversity, including life experiences, age, religion, political views, background, etc.A few months ago I wrote about the analogy between a romantic relationship and building a startup and said that, like choosing a spouse, choosing a startup idea should only be done after an extensive period of low-level engagement dating .

The media bombards us with this love story of how one night someone had a magical a-ha moment, founded a startup, became a fantastic leader, and a few years later were a billionaire.

You can follow him on Twitter @calbucci.

collect
0
avatar
Steven Restivo
Jun 05, 2016 13:45
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.