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Tuesday, 19 January 2010

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John. First, I'd like to start off by saying that I'm looking forward to the next revision of your book. The initial version was a great primer on the fund raising process and I picked up a lot of useful in-depth information that I didn't get from other sources.

In response to the comment above, it's definitely true that agility is imperative in startup culture. Large corporate management on the other hand is very different because they 'strictly' tend to follow a waterfall process of development for ventures: requirements --> design --> implement --> maintain. Large corporate management can get away with this because they often know both the problem and solution, e.g. making internal CRM, customer service, accounting, or other software better.

Unlike large corporate management, startups are venturing into territory that is uncharted with a problem and/or solution that may be unknown or uncertain. A cliche key example is Flickr which started as a gaming platform and then transitioned into photo-sharing.

Essentially, looking to web startups the process in creating something successful, as you mentioned above as well, isn't about following the process but rather starting with something and adapting it to create a form that is both useful to people and which can make money.

Out of personal experience, there has been lots of iterations on my side and there continues to be. But each iteration is better than the last and I believe the end result will be something phenomenal.

I think this famous quote helps to highlight the importance of iterations:

“I have not failed 1,000 times. I have successfully discovered 1,000 ways to NOT make a light bulb.” ~~ Thomas Edison


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