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Practical advice for cyber security entrepreneurs. Learn from our experience.


25
OCT

The Art of the Shortcut

As an entrepreneur you are constantly looking for shortcuts.  Bypassing a few steps is not a tragedy, you tell yourself. Let’s skip version 0.5 and launch the software now, you tell your colleagues. Let’s skip the design partner phase and the beta site and start immediately with the commercial steps of the company… and so on.

Shortcut

As you can imagine, building a cyber security business from scratch takes a long time and a lot of blood and sweat, so it's natural for first-time entrepreneurs to look for shortcuts. You will allow yourself to try and reach your goals faster than you might, believing deep down in your heart that this shortcut is probably a stroke of luck or fortune.

The true believers in shortcuts will probably wait until their company is up and selling before they establish their company formally.  Some will rely on informal agreements and verbal consent with their co-founders and the people who helped them establish the product or develop the technology. A few will bypass the market evaluation (customer need and competitive analysis).

I would say: Don’t skip the process of building your start up step by step. There is a reason why you and your team must go through the entire process to grow your company. Shortcuts are great, especially if they take place in parallel to a professional process. A generous offer from a VC can change the course of the company for the best, surprisingly positive feedback from a giant customer can restructure your sales operation and increase your company’s value -  but don’t stray from the main road: it's extremely  important to go through the correct process for building a quality company, despite the difficulties your your team will probably face.

Too many shortcuts can come back to haunt you. Be prepared.


29
SEP

Are you Thinking of Working on a Cyber Security Idea?

Any idea what the success rates are? Recent research shows that 94% of cyber startups fail. And it's not because of lack of funding. More than 75% of startups that received VC funding from 2004 to 2010 didn’t make it – at all. Odds are, you won't be a Brin, a Zuckerberg, a Systrom or a Karp.

There are many reasons for failing; some are common and very fundamental.

Idea

You probably imagine that the main reasons are: the product is not that great or perhaps the CEO / co-founder is blocking the company's growth….. but no.

Most entrepreneurs fall in love with their own technology and will likely forget to check two main issues:

  • The market need and today's current pain points. Who, specifically, are the main potential customers?
  • Who are their primary competitors and what is better about your offering?

Whether you are new to the startup field, or you are a serial entrepreneur, don’t forget to address these points before establishing your company formally. If you and your co-founders cannot answer these questions, gather some tips from cyber experts who know the answers and avoid some of the most common, game-ending mistakes committed by young cyber startups.