Good tips from Michael Arrington of TechCrunch on shared attributes of winners and losers in the Web 2.0 (new web technology) space.
Shared attributes of winners:
(main attribute is that they’ve won…)
- Passion for what they are doing
- Doing something extraordinary (purple cow) – if you don’t, no one else will know about it. Once all the cows are purple, you won’t notice anymore (noise in the industry).
- Remove serious friction
- Great founder dynamics
- Never raised big money, or raised it after they won
- Perfect revenue model is not required
Shared attribute of losers
- Poor founder/team choices
- Lifestyle / ego entrepreneurs
- Spent too much money
- Over business-planned
There’s more, but this is the part I found most interesting.