by Mark Carter
Posted 5/31/2013 04:13 pm
Updated 10 months ago
Fayetteville (by way of India) startup MineWhat is preparing a major product launch this month after relocating to Arkansas last year for the ARK Challenge. Co-founders Janakiram Ganesan and Pavan Kumar offered up their five tips for startup success:
- Perseverance. In a startup, things change very often. It is a roller coaster.
- Should not expect immediate returns. Average success timeline for a first-time startup is two to three years minimum.
- Fast experiments. You need to make fast releases to fit the market need by iterations.
- Today, design is de facto, so you need to have a designed product, not an engineered product.
- Building a team with A-players is crucial for success.
Ganesan on Innovate Arkansas:
“The mentors have been awesome. Getting to leverage their networks and using their product feedback has been of great help. We got to learn about other aspects of the business that we wouldn’t have otherwise — fundraising, accounting and more.