Unicorn is a business that is valued more than $1b dollars. This was one of the first lesson taught in How to Start a startup course in RU (Reykjavik University). When people think of startups, I doubt that many think of $1b dollar businesses, and maybe that´s understandable, for the known fact that most of startups fail to succeed. However, I think it’s critical that entrepreneurs think in big terms. It don’t necessarily mean that their startup must be a $1b dollar business within some years (though it might happen), but entrepreneurs must believe that their startup can deliver value for their customers for the next decade and that the company captures some of the value it creates. If it don’t, then why even bother to have the startup in the first place.

I personally am not a big fan of ideas, as it turns out everyone has them but they are rarely any solutions to problems. The definition of ideas in the first lecture where that ideas identify the gap in the market. This definition is interesting and explains why most of the ideas sounds really bad in the beginning. Of course it all starts out with an idea, but as taught in the first lecture a startup needs to have four things: Ideas, product, team and execution.

I assume we will get deeper into the process of how to start a startup and I will blog about that journey.