A business model describes how your company creates, delivers and captures value.

Essentials of how to do a startup do not include writing a business plan

In a startup no facts exist inside the building, only opinions.

Greatest risk is not development of new product, but development of customers and markets

Unless you have tested the assumptions in your business model first, outside the building, your business plan is just creative writing.

We now know that something between 85 and 90 percent of most software product features are unwanted and unneeded by customers. That is an enourmous ammount of waste of time and money that ends up on the floor.

Startups are painful, stressful and at times demoralizing. You need to be a true believer in the vision of what you are doing. You need to passionate about it and love what you’re doing. If you don’t, there is no way you can sustain the hours, stress and disappointment. There’s no way you’re going to be able to convince investors, customers and most importantly recruit a world-class team if you not building something you think is going to change the world.