This start-up speech by Michael Porter is helpful in that each piece of advice is coupled with examples of what to do and what not to do.
His first piece of advice is to set the appropriate goal. Although this may sound simple enough, he says that too many businesses in America start out with the wrong goals. The example he uses is maximizing share holder value, which translates into wanting to please shareholders. This is not a good way to start a business.
The second piece of advice he offers in his start-up speech is to be unique. He warns not to follow the latest trends and to fall into the trap of emulating other companies. The customer wants something new and different.