My reading philosophy (if such a thing can exist) is to try and get a single idea from a book that could help me. Whenever I able to do that from a book, I feel justified in having spent the time to read it. “The Launch Pad” is not a book where I have struggled to find ideas that can help me. I have been riveted to listening to the audible version for the last week while exercising.

==> Click here to buy: The Launch Pad: Inside Y Combinator, Silicon Valley’s Most Exclusive School for Startups<==

The thought that has kept circling in my thoughts since one of the early chapter is: “Software is eating the world”, this was referenced in the book after an article by Marc Andreessen appeared in the Wall Street Journal in August 2011. The book gives a wonderful account of the start-ups that goes through Y Combinator’s summer class of 2011. And many of the start-ups seem to be proof of the idea that software is eating the world.

Randall Stross had the privilege of being invited to the inside of what otherwise seems to be a programme run mostly behind closed doors to the outside world. In Paul Graham, Y Combinator has its own inspiration founder and leader. Stross provides great insight into how Graham interviews, interacts, helps as well as get frustrated in dealing with the start-up founders.

I have really looked forward to every time I could get on the exercise bike to listen to more of this amazing story. I have found it hugely insightful and motivating. What amazed me is that the ideas don’t start out as being the next Facebook, twitter or the like. But target specific niches and then with help from Graham seems to grow and evolve into bigger ideas.

This was a great read (or listen in my case), and is really well worth the time needed to follow it from cover to cover. Make sure you get it and read it if you have any interest in the start-up ecosystem.

And remember: “Software is eating the world” in a great and exciting way – not a doomsday movie type of way.

==> Click here to buy: The Launch Pad: Inside Y Combinator, Silicon Valley’s Most Exclusive School for Startups<==

This was a great read. The book was written by two partners at a Venture Capital firm in Bolder Colorado. They spared no effort to educate the reader on many aspects of dealing with venture capitalists. It is really like an insider’s guide! Who would not want that?

They adequately describe all the parties involved in financing of startups, including the people we all love to hate – Lawyers! They also take the reader on a step-by-step guide on the process of raising money. Most time however is devoted to the term sheet.

==> Click to buy: Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist<==

They break the discussion on the term sheet into three parts. Firstly the authors cover the parts that are related to the economics of the proposed deal, like Price, Liquidation Preferences and Vesting. I particularly enjoyed the explanation around Liquidation Preferences and how Venture Capitalist likes to structure deals. Also interesting how they warn against trying to get to high valuation when selling shares early on to Friends, Family and Fools (FFF), this can backfire big-time. Lots of learning in this chapter!

Chapter 5 then deals with the control related elements of the term sheet. They share how to go about setting up the board of directors and potential pitfalls. All other terms are handled in the same chapter and give more than sufficient understanding for somebody about to negotiate a term sheet.

Chapter 8 takes you to the inside of a VC firm and even explains some of the unexplainable behaviour VC seems to get up to at times. You will learn how VC makes money, structure funds and manage their cash flow.

For how ever the part on negotiations was probably the best! Make sure you don’t miss it – Find out what type of negotiator you are and how to handle anything the VC can through at you!

If you are starting a business that aims to raise money from Venture Capital firms, you HAVE to read Venture Deals. The subtitle is not ‘Be Smarter Than Your Lawyer and Venture Capitalist’ for nothing!

Get it now!

==> Click to buy: Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist<==

The Lean Startup is a really great read, I thoroughly enjoyed it. It might well be one of the best books I have ever read, top 5 for sure. It was an easy read, but Eric Ries gets the concept across really well. He tells the story of how he wanted to apply the principle of ‘lean manufacturing’ to the ‘startup world’.

==>Click here to buy ‘The Lean Startup<==

He also develops a few ground breaking concepts of which Minimum Viable Product (MVP) is my personal favourite. The idea behind MVP is to build the absolute bare minimum product you can in order to start acquiring users, enabling you to start learning the lesson to be able to improve the product. These learning’s challenge the assumptions that was made and help shape the future of the product decisions.

From my first impressions this is highly applicable to software startups but I expect application to be found in other startups as well. Lean Thinking will definitely shape my own thoughts and actions in future ventures significantly.

Do yourself a favour, even if you just had a single fleeting though of getting involved in a software, internet or any startup, study (not just read) the Lean Startup. The same goes for anybody involved in software development or management of software or internet companies! This book could be the answer to some of your prayers.

As more and more case studies of successful startup following this methodology emerge, it will continue to grow into an even bigger movement. This is also part of a much bigger trend for software to impact even more areas of our lives. These mega trends together with accelerators, incubators and seed funds like TechStars and Y Combinator, are helping ‘hackers’ to build the software that will power our world tomorrow.

===> Click here to buy ‘The Lean Startup'<==