Before you found your startup, you should spend months painstakingly researching the opportunity and then carefully crafting a detailed business plan.
Wrong, says Kevin Ryan, who has founded six of them (including the parent company of this web site). Just pick a market you know, scrape together some seed capital, and jump right in.
Also, when you’re raising money, if a VC spends hours dissecting the details of your financial model, don’t work with them. It’s a sure sign they have no idea what they’re doing.
In July, we interviewed Kevin Ryan as part of our series on Innovation. Kevin is the former CEO of DoubleClick and the co-founder of Gilt Groupe, The Business Insider, and other companies. This clip is a segment from that conversation. The whole interview can be be viewed here. >
Production by Bright Red Pixels.
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