Here's the collection of the "Lessons of the Day"
Thursday, June 14, 2001
The sales cycle is always longer than you want it to be. We're seeing 4 to 6 month cycles even on 5 figure I.T. deals.
Tuesday, June 5, 2001
Don't buy the hardware (servers et. al.) you may need when you get the customers you think you'll have one day.
Try to avoid buying anything. If you are just starting up, your server needs are probably quite modest. You can lease server space for less than $100/month and have access to excellent systems and software.
Monday, June 4, 2001
If you are thinking of starting a company ... try to get your personal finances in order.
1. If you need cash, get that 2nd mortgage BEFORE you quit your fulltime job.
2. Payoff whatever high interest debt you can.
3. Line up consulting gigs to pay the bills, if need be.
4. If you're applying or will apply for credit (car, loans, whatever) do it BEFORE you become self-employed.
Good luck!
Friday, June 1, 2001
If your startup is offering services ... ask yourself the following questions...
1. Can I save my customer $$$. Really?
2. Can I do that at a profit.?
3. Do I really know who my customers should be? (that took me a year+ to figure out).
Thursday, May 31, 2001
When faced with a disturbing email, or telephone message ... YOU DO NOT HAVE TO REPLY RIGHT AWAY...
In fact ... don't reply. Take some time to think about this. Write that email, but don't send it for an hour. Get your team involved.
You do have a team? Right? Talk to them.
Rash responses are rapidly regretted. I've almost screwed up deals by answering these sort of messages on the spot. Reflection is good. Teamwork is better.
Wednesday, May 30, 2001
I have to remind myself of this one...
If you have any contract issues with a company you are working with ... NEVER tell anyone in that company about it EXCEPT the people who can do something about it.
Otherwise you just create turmoil and hard feelings.