March 14, 2013

GoPro or GoHome

(Eric Millette for Forbes)
I really liked this Forbes story about Nick Woodman, UCSD alumnus, who is CEO of GoPro.
The secret to his startup success?  Summed up in these 5 principles.  Nothing surprising, but good never, ever, ever give up.
1.  Follow your passions.
2.  Fear failure.
3.  Obsess over your product.
4.  Learn to sell.
5.  Evolve or die.
After a couple of flops (important lessons learned), he's found success with GoPro, which merged his personal passion for surfing/extreme sports with gagetry and geekdom. Voila...GoPro.

His hard-earned breakthrough product: "By 2010, the company had its first HD camera. Today, the company’s top-of-the-line $400 Hero3 Black edition has 12-megapixel photo capability and 1080p video at 60 frames per second."

Found the niche based on how he liked to spend his time, and then re-trenched to the extent that he moved back in with his parents and lived out of a Volkswagen bus for a period of time.

As for me, I like that Big Billionaire (with a really BIG capital B) idea, but I know I won't be living out of my car to make it happen.

Enjoy the full article here:  Forbes Article about GoPro and Nick Woodman

TimeLine Evolution of GoPro:  From 35mm to HD