An interesting list of recommendations (modestly titled “commandments”) here in a new piece on Smarta.com. It is a good list, and there is plenty in there that is useful in the follow-up explanations for students building their understanding of what makes a successful start-up.

I like the focus on getting to market quickly rather than trying to perfect a business idea, and also the need to maximise cash and minimise costs in the early days.Those are good business disciplines that serve a start-up well and last for as long as the business wants to be successful.

I also agree strongly with the recommendation to reinvest profits made. Starting and growing a new business is rarely about paying dividends. Retained profit is the lifeblood of a start-up and is the most effective way of maintaining control.