20 Commandments for High Growth Startups

These 20 commandments for high growth startup businesses are complied from a list on the Web 2.0 (Entrepreneurs) grouping on Facebook and from listening to a series of podcast interviews with high growth entrepreneurs on Venture Voice. Enjoy.

1. Your idea isn't new. Pick any idea and at least 50 other people have thought of it. Get over your stunning brilliance and realize that execution is what really counts.

2. Slow moving, stealth startups suck. You're not working on the Manhattan Project or the first lunar mission. Get something out as quickly as possible and promote the hell out of it.

3. If you don't have scaling problems, you're not growing fast enough.

4. If you're successful (either as a business or in raising venture capital) don’t brag about it in the media. Success paints a target on your back. Rather stay under the radar as long as possible to avoid competitive action and law suites.

5. People will tell you they know more than you do. If that's really the case, you shouldn't be doing your startup. Get to know as much as you possibly can about your focus area.

6. Outsource effectively, or be effectively outsourced.

7. Your competition will inflate their numbers. Take any startup web traffic number and slash it in half (at least).

8. Perfection is the enemy of good enough. Leonardo could paint the Mona Lisa only once but you, Joe Smith, can launch a beta v1.0 followed by a beta v2.0 followed by a beta v2.1 and so on…so don’t be a perfectionist.

9. The size of your startup is not a reflection of your manhood. More employees does not make you more of a man (or woman as the case may be).

10. You don't need business development people. If you're successful, companies will come to you. The deals will still be distractions and not worth doing, but at least you're not spending any effort trying to get them.

11. You have to be messed in the head to start a company – it is much easier to work for someone else (and if you do it well your wealth to risk ratio is far more favorable) BUT entrepreneurs have all the fun and their decisions actually count.

12. You will have at least one catastrophe every three months. Get used to coming back from the brink.

13. Your startup isn't succeeding? You have two options: go home with your tail between your legs or do something about it. What's it going to be?

14. If you don't pay attention to your competition, they will turn out to be geniuses and will crush you. If you do pay attention to them, they will turn out to be idiots and you will have wasted your time. Which would you prefer?

15. Startups are not a democracy. Want a democracy? Go run for class president.16. People will think your idea sucks. They're probably right. The only way to prove them wrong is to succeed.

17. A startup will require your complete attention and devotion. And you thought your first love in High School was clingy? You can't take out a restraining order on your startup.

18. The best way to get outside funding is to be successful. Stupid but true. Most web based start ups don’t really need the money so avoid the temptation to take it. By the time VCs coming running you probably don’t need their money. Nurture your equity stake.

19. Stress and ambiguity are part of the game. Seize them, relish them and learn to thrive in a stressful, ambiguous state.

20. Frightening Terror. Overwhelming Joy. Monstrous Greed. Cutting Competitiveness. Embrace and harness these emotions – they are your new reality.