I love Joi Ito’s advice about startups. Mostly he is talking about understanding risk. I particularly focused on one section just after 9 minutes into the video where he talks about how it’s folly to spend a lot of time building a business plan when it’s so inexpensive to go ahead and develop your product iteratively and develop the plan after you’ve seen how your customers are reacting to the product. Here’s the video:
[vimeo 6827318]