Real Founder Lessons
The best startup advice from experienced founders...one real-world lesson at a time.
Why execution is what really matters
(at minute 52:09)
Founder Lesson
One of the most common pieces of advice about startups is...
The idea doesn’t matter. It’s all about execution.
When founders ponder this statement, they often translate it into “ideas are a dime a dozen” or “ignore competition.” What is often difficult to fully grasp - until you’ve lived it - is how . . .
Consider retention when you have new startup ideas
(at minute 42:28)
Founder Lesson
The notion of retention has always interested me when it comes to new startup ideas. I’m sure there are lots of complicated definitions for that term, but to me it simply means your customers’ propensity to continue to use you app in an ongoing cadence that’s appropriate for your type of business.
One of the topics . . .
Don’t underestimate distribution
(at minute 26:01)
Founder Lesson
I’ve often said that my startup playbook is a simple, two-step process...
Step #1 - Build a 10x better product.
Step #2 - Layer on a strong brand.
The reason that I believe in this simple formula is that the dynamics that effect startup success have changed drastically over just the past few . . .
New products need a clear vision
(at minute 21:50)
Founder Lesson
How would you like to be a startup competing with Apple? I love competing with big/slow/dumb companies, but Apple isn’t one that I’d want as a competitor.
The founder in this podcast didn’t feel that way. He founded Pebble…a watch that made crowdfunding history in 2012 when it raised $10 million and broke that . . .
Entrepreneurship is activism
(at minute 35:50)
Founder Lesson
I frequently describe myself as a “heart” entrepreneur (versus a “head” entrepreneur). What I mean by this is that two things are most important to me before I ever think about the economics or financial gain of a new startup...
1) The “magic” of the product. I have to be able to imagine what will truly surprise . . .
If your friends won’t use your product, it’s not ready
(at minute 42:30)
Founder Lesson
Determining whether or not there is real demand for your product (otherwise known as product-market fit) is the most important thing for an early-stage idea. As a founder with a new idea, it’s easy to believe that other facets of your startup are just as important (eg attending conferences, raising money, finding early . . .
The value of side projects
(at minute 31:12)
Founder Lesson
Trying to imagine how your new startup idea will be built, adopted & grown can seem very daunting when you think of all the things that need to happen after the idea stage. One of the main forces in startups that keeps me hopeful and excited is the concept of “side projects”…small projects that people do outside of . . .
