While on my way home from buying a lottery ticket today (I am sure to buy from the store that has sold the most winning tickets), I got to thinking about failure. We’ve been hearing a lot about it recently:
Failure breeds success. Fail fast, Fail often, or fail early, but just fail! That way, you can be sure VCs will respect you in the morning.
It is interesting to me that a concept that seems precise – failure — can actually have a variety of meanings. A story passed around a campfire loses its original meaning because words have different connotations depending on context.
Failing fast, early and often without learning from your mistakes — without a process for learning — is merely falling flat on your face. The cheer “failure breeds success” is a self-help gimmick, typically called by MLMers leaning upon metaphysical beliefs Continue reading 'OK, fail fast, but fail smart!'»
This is an oft-repeated subject. I’ve reviewed 4 decks in the last week, however, so I’m going to give you my perspective while it’s all fresh on my mind.
First, even if you are not seeking funding, go through the exercise of creating a pitch and presenting it to others. The process of creating a good pitch forces you into highly focused, critical thinking that can only serve you and your business well. At the very least, it’s the beginning of a sales pitch, or a partner pitch, etc., In fact, it’s not a bad 1st exercise for gut check #1.
Continue reading 'Oh no, not another pitch template'»
Through the evolution of their start-ups, entrepreneurs will face many inflection points, at which decisions made or not made will determine their future. The painful truth is that a wrong turn may lead to its demise, whereas a right turn leads to another inflection point.
Relevant to ongoing discussions about Blank’s “Customer Development,” I wish to highlight a few of these “inflection points.”
The first step in Blank’s model is “Customer Discovery.” This step seeks to answer this fundamental question: Continue reading 'Customer Development Gut Checks'»
Lewis Mumford (1895-1990) was an American Architecture and Literary critic, as well as Sociologist and Philosopher. I often attribute a particular quote to Mumford, though I can’t seem to locate the source. When asked where to put a sidewalk, Mumford responds:
See where the people walk and then pave their path.
How many times have you seen two sidewalks intersecting at 90 degree angles, with worn grass cutting the corners?
There’s a fine line between executing on your vision and listening to your customers. Consider Mumford’s quote, thinking of the sidewalk as the “vision” and the path as “customer needs.”
Continue reading 'Mumford's Law and Vision vs. Customer'»
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