Following on from Yesterday’s post, ‘Great tips for starting an online business in 2008!‘, ReadWriteWeb has compiled a useful collection of startup tips covering software engineering, infrastructure, PR, conferences, legal and finance. They describe best practices for an early-stage startup. The first recommendation outlines:
Tip 0: You must have code
Working code proves that a system is possible, and it also proves that the team can build the system. Having working code is a launchpad for your business. After it is ready, the business can happen. In the old days, tech companies were funded based on an idea written on a piece of paper, but those days are long gone. Today, a startup needs to have not only working code, but an assembled system and active users in order to land venture capital money. Software engineering transitioned from the post-funding exercise to the means to being funded.
It sounds kind of obvious, but as someone once told me “An idea is like an arsehole…everyone has one” – what’s the point of having an idea, if all it is is ever an idea? If you’ve got a million pound, or world changing idea, – do something about it!