From the Harvard Business Review: http://discussionleader.hbsp.com/taylor/2008/07/four_reasons_most_startups_fai.html


1) "make something people want"

• "What are people forced to do now because what you plan to do doesn't exist yet?"

2) "be willing to let [your] ideas change"

• "the founders of Reddit came ... with a plan to help people order fast food on their cell phones. When everyone agreed it wasn't exactly a killer idea, the desperate search for a new idea led to the launch of their successful company."

3) "Don't worry too much about money"

• "... today, unlike back in the mid-90s, you've got the MBAs working for the technologists, rather than the other way around.

4) "be benevolent"... act in the long-term best interests of customers, as opposed to the short-term best interests of [the business]

• "people will rally around you" with ideas, improvements, and word-of-mouth marketing

If only number 3) was true in Kenya. There's certainly not enough venture cap. flowing, and most certainly it's the technologists working/slaving for the MBAs (and policy wonks). The KICTAnet/Skunkworks divide.

Any policy prescriptions to be derived from the summary, especially around number 3) ?

Saidi