deepstash

Beta

Get an account to save ideas & make your own & organize them how you wish.

STASHES TO GET YOU STARTED

© Brainstash, Inc

deepstash

Beta

Business has become too data driven

The real focus

Really focussing on the core business is the most important requirement for startup success. Becoming an expert at fundraising should not be necessary.

Companies rarely fail because they didn't raise money - they fail because they didn't build something people wanted.

44 SAVES


This is a professional note extracted from an online article.

Read more efficiently

Save what inspires you

Remember anything

IDEA EXTRACTED FROM:

Business has become too data driven

Business has become too data driven

https://medium.com/@edbyrne/business-has-become-too-data-driven-abad046e9222

medium.com

2

Key Ideas

The real focus

Really focussing on the core business is the most important requirement for startup success. Becoming an expert at fundraising should not be necessary.

Companies rarely fail because they didn't raise money - they fail because they didn't build something people wanted.

Tactics are an optimization

Tactics should not be ignored. However, a business isn't going to fail because it had poor tactics. A business with a great product will do fine with common tactics.

A successful business will have both great products and tactics. But it's 80/20, where the fundamentals of building something great is 80% and the tactics and metrics that drive another 20%.

SIMILAR ARTICLES & IDEAS:

"Just do it” - not a solution for procrastination

If we repeatedly find ourselves avoiding certain tasks, an underlying problem needs to be addressed. Once we identify the real cause, we can search for the appropriate plan of action to reclai...

Most common reasons that lead us to procrastinate:

1. We feel like we’re not making progress.

2. We’re not sure where to start.

3. We’re afraid of failing.

4. We dislike the task itself

Taking off

Startups take off because the founders make them take off.

Generally, startups take a push to get them going. Once they are on the track, they will usually keep going, but there is a s...

Recruiting users

Nearly all startups have to recruit their users manually. You can't wait for users to come to you. You have to go out and get them.

  • At least one founder will have to spend a lot of time on sales and marketing. Don't succumb to shyness and laziness.
  • Even if numbers may seem small at first, don't underestimate the power of compound growth. 
  • At some point, growth has to slow down. If the market exists, you can gradually switch to less manual methods.

Initial vulnerability

Almost all startups are vulnerable initially, like a newborn baby. It's harmless if know-it-alls dismiss your startup. Thinking "there's no way this tiny creature could even accomplish anything" is faulty thinking.

The danger is when you dismiss your startup yourself and fail to see the full potential of what you're building.

9 more ideas

Getting Fired

Getting fired throws you out of your comfort zone, and makes you review your assumptions, which is the start of great progress.

Setbacks such as getting fired can turn your life around, and p...

Fear Is An Illusion

Our Fear is almost never as bad as it feels.

If you are constantly learning, networking and building yourself into a better person, then setbacks are only crucial milestones in your progress and are nothing to be afraid of.

Don't Take It Personally

Getting fired might seem like life's cruel joke on you, but the world is not your enemy.

Let go of the guilt and shame that comes naturally when a setback is received. One doorway has closed only for better doorways to open in your life.

3 more ideas