In light of the $20mm to $35mm sale (depending on who you’re reading) of Weblogs Inc to AOL many pithy words of wisdom are emerging about Jason Calacanis.
So why shouldn’t I add one.
In his what now? post, Jason tells the following Mark Cuban story:
Mark Cuban (whoâ€™s the best investor you could ever have BTW) always said â€œletâ€™s not drown in opportunityâ€ when he, my partner Brian and I would talk about the business. Thatâ€™s why we didnâ€™t launch an RSS reader or blog search engine, and thatâ€™s why we told everyone who wanted to do â€œbusiness developmentâ€ that there were only three ways to work with us: 1. read our blogs, 2. write our blogs, or 3. support our blogs with advertising.
I have to say my one piece of advice to startups is to focus on building your product and revenue and donâ€™t waste time on partnerships. Maybe when youâ€™re a huge company these things can work out, but the most important things in any startup are: 1. the product and 2. the bottom line.
So as I work on some IT consulting at the moment I feel the opportunities bobbing around. But if I pursued each one I’d be spread so thin I couldn’t execute well on any of them.
So I’m now working on two questions: what is my product? and how will it feed my bottom line?