- Book Title: Do More Faster - TechStars Lessons to Accelerate your Startup
- Author: David Cohen & Brad Feld
- Some extracts:
Avoid Tunnel Vision… what does best entrepreneurs have?
- develop passion and vision for the problems they are trying to solve
- identify and understand what they have to do to make it happen
- combine sheer will, determination and focus to make it happen with a healthy sense of urgency
- have a perspective that things rarely go as planned
Characters of great startups:
- no politics
- it’s not a job, it’s a mission
- intolerance for mediocrity
- watching pennies
- perfect alignment
- good communication
- strong leadership
- mutual respect
- customer obssessed
- high energy level
- use the subject line
- 3 sentence rule
- spell check
- reply to important emails right away
- use “unread” status
- be conscious of how much you suck - if you send out emails that you consider are important and you don’t get a response, think about why
deadly strategic mistakes:
- built a sales effort, but too weak of a product
- waited too long to address the “nice to have” problem
- went after enterprise sales model with non-recurring small price
deadly cultural mistake
- didin’t focus on learning and failing fast
- didn’t care about or focus enough about discovering how to market
- in hiring, choosing expediency over talent and competency
5 key metrics to measure by Dave McClure:
- Acquisition - how are users coming to your site through various channels?
- Activation - Are users happy with their first experience?
- Retention - Are users coming back?
- Referral - Are users telling others?
- Revenue - Are users spending money or allowing you to monetise?