- Excitement - Skill - Consumer demand - Build experience with freelancer then start-up then business $Strategy = AIM then Ready then Fire$ - Identify goal - Introspection - Assess your aspiration (dreams) - Why to start startup - Figure out key strength - Strengthen your skills don’t copy someone - What are new you can do? - Make list of skill, on right write used skills and left write skills you don’t use - Find achievement (did it changed any thing in life and can be profitable) - Top skills create reputation - Identify personal trait (reputation is new currency, because it differentiate you with others) - SWOT analysis - Find opportunity – by look what others are doing - Always improve - diversify - Office setup in minimum or no cost - Priority management - Split project in to tasks - Group similar tasks - Self-review - Spent time in training - Set daily priorities - Schedule breaks - Plan your day - Do hardest task first - Create and commit your own deadlines - Check ideal vs actual time - Spend on learning (1000days effective focused learning makes person extraordinary) - Contract and paperwork - Take down payment - Bookkeeping - Invoice reminder - Finance forecast - Make contract for free work - Charge for late payment - Accounting software - Keep cash reserve - Make budget, by analysing this year expense - Business doesn’t bring same month each month - Start CFO - Consult lawyer for all legal work - Market segment issues - Do not sell to everyone and don’t sell everything - DO Litmus test to see if startup can get customer.