Manoj Bhargava (Founder, 5-Hour ENERGY) - TIECon 2013 (HD)
Here are the tips given my Mr. Manoj.
1) Keep things simple.
2) Be useful.
3.) The silicon valley startup culture vs gambling.
4) Say no to aggravation culture.
5) The job of an entrepreneur is to minimize risks
Always remember to exercise common sense and practice a sense of urgency.
6) Hires sergeant instead of officer.
7) You got to test out the idea - see if it has legs.
The greatest lesson I learned from Mr. Manoj is that he practices practicality whereby he isn't addicted to particular idea to the extend that it is do or die; to him, if it doesn't work, do not continue.
In my years of experience as technical person, I found that programmers would develop ideas based on technology limitation to solve a problem while business people would look for a problem to solve before sourcing for technology.
Programmers would always see a technical limitation (out of a scenario) and aspire to solve it by creating a more generic solution, as a result of this ambition, it leads to attachment.
As a result, technical people-lead startups would often result in a bigger failure rates than those started by business people.
Nonetheless, for business people to startup a company, one must either have the financial capital or the ability to source for funds in order to hire a technical team.
Technical people-lead startups would have a better chance of surviving longer provided that they are able to generate the first income not long after its inception.