Page 149 - 6 Secrets to Startup Success

128 6 SECRETS TO STARTUP SUCCESS

attributes that would continue to be vital as Modality’s operation grew
in size and complexity. The broader lesson here is that highly success-
ful ventures almost always diverge from the founder’s original inten-
tions, a fact that places a premium on openness, learning, and agility.

In this chapter I’ll outline two core attributes that drive strong and
agile execution. The first is an ability to manage the paradoxical ten-
sion between whole-hearted commitment and wide-eyed flexibility.
The second is developing a healthy approach to iteration, meaning
that you rapidly iterate your business idea, capture lessons learned,
and capitalize on your learning by making smart, tough calls about
how to change your product, your business model, or, in certain cases,
your venture’s core identity.

The Paradox of Strong Execution

Chapters Three, Four, and Five each dealt with one of the funda-
mental domains that form the strong core of any new venture:

9 Chapter Three addressed the principle of founder readiness,
how to best prepare yourself and your team for the startup
challenge.

9 Chapter Four focused on the importance of developing a
market orientation, understanding the customer problem you
are solving and allowing your venture to be shaped from the
outside-in.

9 Chapter Five emphasized the value of a compelling math
story, your organizing logic, your money-making formula, and
your path to breakeven and beyond.

These three domains are the core components of your startup
blueprint—the more skillfully and fully you address these compo-
nents and the questions and issues that fall within them, the more
promising your venture’s odds of success. Shortcuts or compromises
in these areas can leave your new business vulnerable to the downside
risk of overheated passion or misdirected enthusiasm. But as funda-
mental and important as these domains are, your venture is going

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