Found this amazing playlist on the YCombinator Youtube channel about the basics of startups and it’s called the Startup School:
Next Blog Post:[YC Startup School] Key takeaways from “How to get and evaluate ideas”[YC Startup School] Startup Business Models and Pricing[YC Startup School] How to talk to Users[YC Startup School] How to get your first customers
Q. Who is Harj Taggar?
→ YCombinator Group Partner, former co-founder of TripleByte, GP, and now he’s a startup investor!
Useful but not necessary in the long run (for becoming a successful startup founder):
You don’t need to be a ruthless, brilliant programmer like Zuckerberg in The Social Network.
You don’t need to be a charismatic product genius like Jobs.
You don’t need to be from a reputed university.
You don’t need to have good grades.
You don’t need to be loud and confident.
Capacity to withstand or bounce back from difficult situations, circumstances
→ Because of the numerous challenges faced:
- Lack of funding, limited resources
- Technical difficulties and product failures
- Employee turnover and team challenges
- Legal and regulatory hurdles
Some of the most confident-looking people aren’t resilient.
Some of the quietest, non-attention-grabbing people turned out to be the most resilient people ever.
Example: CEO of Benchling (YC S12, B2B SaaS Biotech): Sajith Wickramasekara
→ Being genuinely interested in the problem you’re working on.
→ Love the people you are working with.
→ Not really, because motivations change over time. It is okay to make a startup because you’re just curious about what it would be like, or to make money.
Ask yourself “What do I have to lose?”
- Figure out what the worst-case scenario would look like if you started a startup
- Decide if it is worth it or not
- Be honest with yourself
What you have to gain:
- Factor in the fact that you will learn a lot from starting a company:
- project management,
- product development
- Good for future career prospects (example of former founders who are managers at bigger companies now)
- An idea
- A co-founder
- It's okay to only know the ideal space you wish to work in
- It needs several iterations before finding the right product-market fit (PMF)
- In college — someone you like to work on difficult problems with or do group assignments with
- At work — colleagues that make you more productive and help you do your best work
- Someone with a strong technical background preferred
- The best environment to get startup ideas is to work at a startup
- Turn your ideas into side projects. However small the idea is, work towards turning it into something tangible.
- Follow other smart, creative people on socials (Twitter, YT, LinkedIn)
- Better to make a product that a few people really love, rather than many people are indifferent about
- Don’t worry about starting motivations — curiosity is enough
- Worst-case scenario analysis
- Find smart people to talk about ideas with
- Turn ideas into side projects and launch them
- If you enjoy the process — make the jump!