6 Secrets to

Startup Success John Bradberry 2011, AMACOM Notes by Sacha Chua Livinganawesomelife.com Twitter @sachac Founder misalignment vs. Founder readiness No founder is a perfect fit for his or her chosen startup.) p54 Clarify your reasons, take stock of your resources, and purify your passions. (Make sure you're focusing right things!) on the An unforgiving strategy vs. Startup agility. Rapid, healthy iterations at multiple levels features Products/services systems/processes strategy business model identity Wise founders view learning as the primary Objective of their startup launch. P.135 6 Secrets to STARTUP SUCCESS JOHN BRADBERRY The Passion Trap Confirmation bias Representativeness Overconfidence/ Illusion of control Biased on attachment to an idea interpretation Anchoring Escalation of Commitment/ Sunk cost fallacy Feedback/ Results Missing the market vs. The pull of the market Products and needs are inseparable. P85 Focus on people, not products! Emphasize markets. know your market, then execute on the opportunity. The Reality Distortion Field vs. Integrity Encourage TRUTH-TELLING and DEBATE Rose-colored planning vs. Your math story know your Planning Investments/ actions • critical question! p106 Do we have a concept Can we actually that (other anyone than us cares about? make money this? How? at See also: bottom-up planning with sales funnel in mind (p31) An evaporating runway vs. Staying power Curiosity Venture + Humility + Candor + especially when it's hard! Scrutiny Launch close to Customers! Face your biggest risks early. Raise more money than you think you need. Commit wisely. 228 88 Is this business Scalable? How can we create significant valve over time? your Founder R Feed your fire Focus on achievable goals Balance performance with recovery. Persevere without attaching.