So many of the major decisions that affect the entire future of your enterprise happen during its first year in business. In fact, most don't make it because they don't know how to get the resources they need to survive. Jay Samit affectbusinessdecision share on social
To thrive, all businesses must focus on the art of self-disruption. Rather than wait for the competition to steal your business, every founder and employee needs to be willing to cannibalize their existing revenue streams in order to create new ones. All disruption starts with introspection. Jay Samit artbusinesscannibalize share on social
YouTube began as a failed video-dating site. Twitter was a failed music service. In each case, the founders continued to try new concepts when their big ideas failed. They often worked around the clock to try to overcome their failure before all their capital was spent. Speed to fail gives a startup more runway to pivot and ultimately succeed. Jay Samit beginbigcapital share on social
Every product you have ever loved was a compromise from the ideal vision of its creators to the realities of shipping on time, on budget, and on price point. Anyone who has ever manufactured a physical product that had to be on the shelves for Christmas shopping knows how painful these choices can be. Jay Samit budgetchoicechristmas share on social
Some incubators, like Y Combinator and TechStars, were started by successful entrepreneurs wishing to help the next generation learn from their experiences. Other programs, such as Viterbi Startup Garage and Austin Technology Incubator, were created by universities to help young entrepreneurs bridge the knowledge gap from student to funded company. Jay Samit austinbridgecombinator share on social
To truly launch a great product, you need partners. Channel and marketing partners share in your success and share in the costs of reaching your target audience. Jay Samit audiencechannelcost Change image and share on social
Founding a successful startup is no different than forming a rock band. Jay Samit bandformfound Change image and share on social
Founders need sizable egos to believe that what they are creating is good enough to change the world. What makes for great co-founders is having those egos focused on complementary, not competing, skills. Jay Samit changecompetecomplementary share on social
Every company, regardless of size, is competing for the same pool of talent, which is why top recruiters can even command equity for finding key hires. Internships give startups a chance to hire the best and brightest from our universities at a fraction of the cost that these same minds will command when they receive their degrees. Jay Samit brightchancecommand share on social
Consumers value their personal time and are loyal to those companies that make their lives more productive. Brands gaining some of the biggest successes in social media are engaging with millions of consumers through value exchange. Jay Samit bigbrandcompany share on social