When it comes to gaging whether an online business is successful, nobody gives a shit about your education, your life dreams, or your technical talk.

All that matters is whether your online business is HOT or NOT?

Litmus test I use:  Is the product that your building something that you would want to use yourself?  Something that you would honestly choose to use over the competition based on merit?  If so then it’s likely a winner!

1.  Invest in premium domains.

2.  Design is EXTREMELY IMPORTANT.   The best designs will hold a major edge in the marketplace.

3.  You’re offer is either excellent or it sucks.

4.  It must be UNIQUE & VALUABLE.  Value is very different than price.  Competing on price as an entrepreneur is a very difficult thing.   The more unique & valuable your offer is, the less price will matter.

5.  A players hire A players. B players hire C players.  C players hire….

Only hire A players.   When you look at all of your departments you should have people that are smarter/better than you. 

6.  Focus sessions and group think are bullshit.

7.  You’ve gotta learn to let go as an entrepreneur.  Delegate, don’t dictate.

8.  Almost all successful online businesses start off by trying to solve small problems.  i.e. Bill Gates started off by looking to develop an operating system for the cool new PC gadgets.  Never in his wildest dreams did he envision that once day that business would spawn off an Operating System Powerhouse, Bing Search Empire, XBOX360 Video Game Dominance, etc.

Watch the Guy Kawaski video to gain more insight into these lessons and many more: