Xeraph@NCHOVY

I once had a conversation with the founder of a famous (and very profitable) web startup, and he shared that his number one advice for any startup is to build products that will generate revenue first, then you strip some features and launch the free version. The issue with most startups today is that there is no clear way to monetization, and eyeballs do not translate to dollars as quickly as bandwith costs increase.

Maybe you should do a follow up post:
1) Brain fart idea
2) act on idea
3) get first beta customer
4) charge X price for the product
5) use first customer as a reference for the coming 2 years
6) grow the business - bootstrapped
7) word gets out and VC’s start calling (business is growing and maybe cash flow positive)
8) VC who was CEO of a software company in 1978 convinces you that he has seen it all - b) presents you term sheet c) you take his money
9) Board of directors takes your business in a different direction because they are wisemen and you are green and just part of the bewildered herd.
10) Board fires you
11) Board brings in new CEO with more funding
12) CEO replaces VP sales and hires executive serach firm that charges $125K to replace VP sales
13) Burn cash
14) Burn cash
15) Burn cash
16) VP Sales tries to sell Web 2.0 offering as if he was selling client side sofware back in 1994
17) Three more months of burning cash
18) Fire VP sales
19) Burn cash
20) Burn cash
21) Fire CEO
22) Shut down company or sell off assets for a song
23) VC’s turn to limited Partner and say “oh well, sorry. I’m just glad it was your money not mine”
24) Founder says to himself that he will never take another penny from a VC
25) see #1 start cycle again.

―심장이식 수술 성공 등 한국 최초 기록을 많이 갖고 계십니다. 우연의 결과일 리는 없고 큰 시나리오 안에서 단계적으로 도전하고 있는 것이겠지요?

"그렇습니다. 스타 교수께서 한국으로 돌아가면 첫 10년은 과감하게 일해서 너 자신을 유명하게 만들어라. 그래야 지원을 많이 받을 수 있다. 그 다음 10년 동안은 전력 투구해서 일을 확대시켜라. 그리고 마지막 10년은 그때까지 한 일을 꽃피우라고 하셨어요. 그 말이 제가 계획을 세우는 데 큰 도움이 됐지요."

―성질이 급하십니까? 정말 레지던트의 뺨을 때린 적이 있으세요?

"절대 아닙니다. 늘 불평불만인 환자가 있어 겁을 주느라고 레지던트를 위협하는 척한 적이 있어요. 그게 와전됐겠지요. 저는 늘 극한 상황에서 일하니까 침착하려고 애를 씁니다. 다급한 상황에서 선장이 흔들리면 안되니까요. 사자의 대담함, 여우의 지혜, 곰의 추진력이 다 있어야 합니다."