Two really smart guys have posted their tips for starting up a new business. Read what Jason Calacanis and Mark Cuban have to say on this subject. Personally, I been part of about 5 or 6 startups including 2 that went public so I've got my own opinions. On the whole I agree with about half of either of those guys observations.
Jason is a guy who starts blogging companies for a living so buying Macs and a $5000 espresso machine might work for him but I think its just plain dumb for most business models. Mark starts and invests in varied technology businesses that he scales out rapidly in a hurry (or at least hopes to) so he's got a different spin that's a little closer to mine.
Myself, I tend (recently) to start 'old fashioned' profitable, private software start ups and I don't tend to sell them in any hurry.
I haven't thought of my rules yet but I will post them soon when I compile them. A lot will overlap with what Jason & Mark say.
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