Coventry League
 
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VentureBeat published an informative blog titled “ten lessons from a failed startup,” by Mark Goldenson.  In late 2007, he and his partner planned to start an internet TV network for games called PlayCafe.

Here are three important takeaways:

1.)  Knowing versus Doing.  “…but like a surgeon who has studied but never practiced, I think it takes a lot of hands-on experience to learn intricacies and exceptions.”

2.)  Always have Options.  In negotiating and planning, you always want to have back-up plans.  He mentions BATNA (best alternative to a negotiated agreement).
3.)  Marketing.  Set a value on your time, understand customer acquisition costs, and recognize the importance of skillful marketing, especially if you don’t have inherent one-to-many virality.

The author provides valuable links to resources and stories such as mint.com and redeye.com.
 


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