Everything That Rises Must Converge
SXSW 2000 Interactive Festival
So You're Creating an Internet Start-upMod: Eric Hellweg (Business2.0)
Sunday, March 12, 11am
Looking at the multihued hair, facial piercings, kooky hats, and funky clothes, you might think this crowd was headed underground for a techno-rave; the once-stodgy world of business is now way-cool. This panel focused on how to merge those creative, chaotic minds with sound business practices. The panelists, ranging from their early 20s to their 40s, distilled their "wild ride" experiences in the start-up world into practical advice such as: The business plan is your gold mine -- make it clear, focused, and detailed. If you don't know how to create a business plan, find someone who does. Attorney Joe Bogdan advised, "Your first hire should be an actor, someone who can go out and evangelize your vision." Do your homework on business incubators and venture capitalists. Get a good lawyer immediately to put your friendly agreements about ownership of the company down on paper. Scient's Dan Levy had a couple of particularly juicy nuggets. "Be prepared to be wildly successful," he said. Reflecting the new Internet sensibility, he added, "Don't be greedy. There will be enough money for everyone, so share it." In summation, Levy pithily observed, "I'd hate to be starting a business today that wasn't an Internet company."