I'm sick of following my dreams. I'm just going to ask them where they're goin', and hook up with them later.
Our friend Axel Schultze, CEO and 5 time entrepreneur who founded Computer 2000 which became the largest IT Distributor in Europe and third largest world wide and grew a channel supporting nearly 40,000 resellers in Europe and merged his firm with Techdata to create a $5 billion company had this to say about starting a business.
"90% of entrepreneurs fail because they did not fully verify their ideas. We just had this discussion in a forum "Silicon Valley versus rest of the world" where we kind of concluded the single biggest difference Silicon Valley entrepreneurs do with their ideas:
- They validate the idea with friends
- Create a concept and validate the concept with friends that could also become customers
- Create a prototype and validate it with those who may want to buy it
- Build a first beta version and validate it with those who said before they might be interested
By now they have a pretty good idea how much value they are actually creating. In many cases that is the point in time when they really quit their job."