Page 18 - 6 Secrets to Startup Success

Introduction xvii

nomenon, but all healthy businesses are rooted outside the
founder, in the marketplace. Chapter Four emphasizes the
importance of a market orientation, and explains how market-
oriented entrepreneurs do three things to ensure that their
passion connects with ample opportunity: They obsessively
emphasize the market; they strive to know their markets and
core customers; and they execute on their market opportunity.

3. Ensure that your passion adds up. Most passionate entrepre-
neurs develop rose-colored plans, over-estimating early sales
and underestimating costs. Chapter Five explains the value
of developing a clear, compelling math story. You will learn
how to clearly articulate your business model and plan; how
to think about profitability and returns; and how to ensure
ample funding so that your venture has room to thrive.

4. Execute with focused flexibility. No amount of startup plan-
ning can accurately predict the unexpected twists and turns
imposed by reality. Chapter Six focuses on the importance
of iteration and agility, allowing your venture to be shaped
by market forces over time. You will learn the importance of
testing and adapting your concept as early as possible, iter-
ating rapidly, and continually improving the fit between your
big idea and the marketplace.

5. Cultivate integrity of communication. Passionate commitment
to an idea can breed reality distortion. Too often, aspiring
founders see what they want to see, dismissing uncomfortable
facts and avoiding tough conversations. You can avoid these
dangers by improving the quality of early-stage conversa-
tions and setting a tone for truth-telling and healthy debate
throughout your venture. Chapter Seven stresses skills es-
sential for high-integrity communication, outlining four per-
sonal attributes that will help you avoid living in a “feel-good
bubble”: curiosity, humility, candor, and scrutiny.

6. Build stamina and staying power. In an immediate sense, most
startups fail because they run out of money or time. Chapter

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