For our latest Fireside Chat (a group chat conducted using Campfire), we talked with Mark Fletcher and Marc Hedlund.
The chatters
Mark Fletcher is a successful serial entrepreneur, software developer and investor, with over 20 years experience in software development and high tech. His creations include Bloglines and ONElist (which evolved into Yahoo Groups).
Marc Hedlund is an entrepreneur working on a personal finance startup, Wesabe, where he is Chief Product Officer (still pre-launch but there’s blog at Wheaties for Your Wallet.) Before Wesabe, Marc was an entrepreneur-in-residence at O’Reilly Media.
In part 1, they discuss startups, cookies, and why you should “shut up and ship.” (Moderated by Matt and Jason from 37signals.)
Choice quotes
Hedlund: “I’m learning to appreciate luck a lot more.”
Fletcher: “What’s been successful for me is just building stuff that I needed. I’m not a good salesman, so for anything I do to be successful, it has to be a good idea (the power of the idea wins).”
Hedlund: “I think a lot of what has worked for me is not what I decide to do but how I decide to do it. Who do I hire? What do I tell them is their job? Even, as DHH says, what tools do we use? A lot of that adds up to the daily ritual being right. When the ritual is right, it works. And that set of answers probably differs a lot from person to person.”
Fried: “It seems that a lot of folks get innovation and execution confused. Execution is the key, innovation is not. Innovation is nice, but execution is the secret weapon.”
Hedlund: “I tend to run into a lot of people — myself included — who latch onto cool ideas before big needs. I talk to a lot of engineers, so that’s their common problem.
Hedlund: “One guy I pitched, Bill Gurley, said it well: ‘There are a lot of walls around the size of the market.’ People needed to fit a bunch of constraints before they needed the product…Cool engineering idea, not necessarily a good business.”
Transcript
The full transcript is below.
Linderman |
What are y’all working on these days? |
Hedlund |
I’m working on Wesabe, a personal finance startup |
Linderman |
Mark, what are you working on? |
Fletcher |
I’ve been helping some friends with their startup, as well as easing myself back into tech. I’ve just started learning Ruby on Rails (quite nice, and I’m not sucking up…). |
Fletcher |
At some point I’ll start something else, but I haven’t decided what yet. |
Linderman |
What’s something new that you have been learning lately? |
Hedlund |
What have I been learning: I’m learning to appreciate luck a lot more. I’m completely not religious or superstitious in the slightest, but some of the best things about wesabe have come out of lucky meetings |
Fried |
Mark, I’m curious… everything you touch seems to turn to gold. Do you build things with the intention of selling them later, or does that just happen? |
Fletcher |
Hah! |
Linderman |
Mark "Midas" Fletcher |
Fletcher |
I’ve been very lucky. What’s been successful for me is just building stuff that I needed. I’m not a good salesman, so for anything I do to be successful, it has to be a good idea (the power of the idea wins). |
Fletcher |
Man, and my parents thought I had a big head before… |
Fried |
|
Hedlund |
jason, thanks. I’ll send you some cookies. :) |
Fried |
It seems that a lot of folks get innovation and execution confused. Execution is the key, innovation is not. Innovation is nice, but execution is the secret weapon. |
Fletcher |
Jason: totally agree. There are no real new ideas in the world. |
Hedlund |
that one got a lot of private response. Some of them start big threads, others get me lots of emails and no comments. That post was the latter |
Fried |
It’s not only just about new/old ideas… It’s about all the ideas. The innovation is the execution of the ideas. |
Hedlund |
I think a lot of what has worked for me is not what I decide to do but how I decide to do it |
Fried |
That’s where you can cut out huge swaths of success. |
Hedlund |
who do I hire? what do I tell them is their job? |
Hedlund |
even, as DHH says, what tools do we use? |
Hedlund |
a lot of that adds up to the daily ritual being right |
Hedlund |
when the ritual is right, it works. |
Hedlund |
and that set of answers probably differs a lot from person to person |
Hedlund |
heh! well, here’s hoping |
Hedlund |
being wrong helps sometimes, too |
Fletcher |
All startups make mistakes. You just try to minimize them. |
Fried |
We try to minimize mistakes by making very small decisions. |
Fried |
so you can’t go too wrong too much at any one time |
Continued…