A million dollars should last any new venture at least a year. And companies are most productive when they're less than ten people strong. These business axioms are good advice for any enterprise, says Ron Conway, investor in over 500 companies, and fellow investor Mike Maples. A lean and mean staff gets the most accomplished, and a low burn rate and ample experimentation are nearly always a calibrator for success. In addition, simultaneous customer development along with product development is what gives a successful concept legs.
Jan 23, 2008