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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.
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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%.
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"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
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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.
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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.
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