Sam Altman Quotes

We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan.

Entrepreneurs always begin the journey believing that they have the next big idea. They dream of the fame and fortune that awaits them if only they had the funding to pursue it. But the reality is that as the product is built and shared with customers, flaws in their concept are discovered that - if not overcome - will kill the business.

If you want to build a startup that has a good chance of succeeding, don't listen to me. Listen to Paul Graham and others who are applying tons of data to the idea of startup success. That will maximize your chance of being successful.

When you start a business, go for the lowest hanging fruit.

I focus on consumer Internet. Sometimes it's a working prototype; sometimes it's an idea on a napkin. I don't do a ton of deals a year, and I really like working with startups - it's the only way I can invest. It fits my ADD brain.

Many businesses fail because the owner wasn't willing to invest and wasn't educated on the difference between spending money frivolously and investing money into the business for growth, and the risks and rewards of that cash infusion.

I don't think you should ever start a business and move in a direction where you can't see it becoming a business.

The swamp is a business model. It's a successful business model.

If opening your own business is the dream, then it must start with a Dream - not only to understand what it is that you want to do, but also, how you are going to build something better than the same chaotic environment you just left.

When the venture industry started, it was enough to just have money and then it was enough to sort of have this big fuzzy brand. But now startups are getting a lot smarter.

I don't invest in ideas because ideas are a dime a dozen. I could steal the idea pretty quickly.

Whenever you start a new business, the sheer number of variables at hand makes failure a constant possibility.

While 'The Owner's Manual' is not a formula for guaranteed success by any means, we're confident it will help reduce the failure rate of most startups that use our Customer Development process.

I think a lot of entrepreneurs think they need money to build the business faster when they actually haven't figured out the business equation yet.

When you're starting your own business it's really important to think through your plan: what's the idea, why is it relevant to the market, how much money you are going to invest, how are you going to tell people about it.

The most dangerous thing for an entrepreneur to do is to actually go into a business that he does not understand fully.

A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival.

People follow proven formulas in any business.

What interests me is starting businesses on our own, finding ideas that we can support, and simply investing in invention.

In a startup, in the early days, it can be hard to explain what you do.

For me, the winning strategy in any start-up business is, 'Think big but start small.'

Small businesses, you can give them capital, but what they often need as much is mentoring, advice and help with their business plan.

Most people end up owning a business by accident. Therefore, they don't usually have a thought process and a strategic plan in place.

Young entrepreneurs should spend an awful lot of time thinking about what they want to go into.

Start small; get to know the landscape. We take risks but not major risks. We always started with small capital - €4m in Holland, $10m in Russia - and as we get to know the landscape of a country, we think about other businesses.