Building a Successful Startup: Tips from Tom Preston Werner at Startup School 2012
This article is a summary of a YouTube video "Tom Preston Werner at Startup School 2012" by Y Combinator
TLDR The key to building a successful startup is to focus on complementary skills, hiring the right people, having a clear mission statement, and creating a strong culture based on optimizing for happiness and working from first principles.
Money doesn't matter, people do - the success of GitHub was due to the complementary skills of its co-founders and the bigger questions of where it's been and where it's going.
The company hired a third co-founder and diverse employees to accomplish more tasks, while the speaker's team lacked business and executive experience.
Having a beginner's mind is crucial for solving new problems in startups, hiring the right people is hard but necessary, and titles are not important in the beginning.
Building a successful team requires a mix of skills and personalities.
Focus on quality design and a clear mission statement to appeal to users, while GitHub's mission is to make developers' lives easier and solve more problems.
Reinvest profits, focus on product, and choose between lifestyle or world-changing impact for success.
Philosophy at GitHub is based on optimizing for happiness, winning with the best argument, and working from first principles, creating a strong culture that attracts superfans and drives positive change.
Mastering decisions, philosophy, and products is key to raising $100M.