- They are obsessed with the quality of the product/experience.
- They are obsessed with talent.
- They can explain the vision for the company in a few clear words.
- They generate revenue very early on in their lives
- They are tough and calm
- They keep expenses low
- They make something a small number of users really love
- They grow organically
- They are focused on growth
- They balance a focus on growth with strategic thinking about the future
- They do things that don't scale
- They have a whatever-it-takes attitude
- They prioritize well
- The founders are nice
- They don't get excited about pretending to run a startup
- They get stuff done
- They move fast.
Lots to like in the detail behind each of these points but I particularly liked:
"Successful startups nearly always start with an initial core of super happy users that become very dependent on their product, and then expand from there."
I think it's easy to be too obsessed with scale too early on with a new product or service. I'm learning a lot from doing Fraggl. We have a number of ideas around scalability that are all very exciting, but for now we're focused on getting the service as good as it can possibly be for our core, growing group of initial users. And that feels like the right thing to do.