I’ve been obsessed with Internet Startups for almost a decade now, and I still find myself consuming as much content as possible about the best way to startup a company that is setup for success. As luck would have it, I am actually running a profitable startup now, so I figured I would assemble a set of rules I wish someone had given me when I was trying to start my first few companies.
Now, I know for every rule in this list, you can name exceptions. I get that. And I don’t care.
This list is for someone looking to start their first Internet Startup who is interested in bootstrapping a reliably profitable company that can then open the door to the next big project.
That’s my plan; I am running a profitable company, and I plan to use it and the experiences and capital I am getting from it to slingshot myself into the next, probably riskier project. The rules below are compiled together because if you can design a product that follows all of them, you have a much better chance of investing your time and energy into something that stands to be profitable and successful.
I firmly believe first time startup founders shouldn’t be trying to build the next Reddit or Facebook. Yes, I know they’re both profitable (now). However, they’re both exceptions to the rule of both the markets they’re in. They’re great ideas to pursue after you have money in the bank and are not risking everything on your idea. Until you reach that point, I think you should focus on ideas that, while smaller, can much more easily be made profitable.
This is just my opinion and I know many out there will think I’m an idiot. That’s cool. I dig that. But hopefully those who don’t think I’m an idiot and are looking to get started in the world of internet startups will find this set of rules useful.
I have two main goals for this post:
- To provide a set of rules for first time startup founders to follow to help increase their chances of building a successful, profitable company
- To use as many tacky stock photos as possible