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STARTUP WHATEVER!
Startup *S.H.I.T. to Share! *Strategies/Hypotheses/Insights/Theories (to discuss/debate/demonstrate)

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In STARTUP WHATEVER!. More on Medium.

What IS an ENTREPRENEUR??

[Spoiler Alert: Nobody seems to have a universally-accepted definition] For the sake of this discussion, we’ll use GOOGLE’S DEFINITION (below) to illustrate a few common misconceptions (that have evolved over time) about what “an entrepreneur” actually is. [comments in red are us]

The reality is — there are MANY TYPES of Entrepreneurs!
But in the most authoritative definitions we found — including Google,
THERE IS NOTHING THAT SAYS OR EVEN IMPLIES:
- that you need to be the CEO…
- that the business needs to be YOUR idea…
- that you need to start All-In / Full-Time…
- or that you can’t reduce or MITIGATE your risk
(Multiple Eggs / Multiple Baskets)
[more on this later]

So, why am I so interested in discussing the wide variety of contradictory definitions of Entrepreneur? (Particularly the specific parts associated with my notes written in red on the image above?) Because…


And “PART-Time Pursuit of *PROOF…” Programs

UNLESS/UNTIL you have achieved *PROOF…

*Proof of Concept?
*Proof of Assumptions?
*Proof of Product/Market Fit?
*Proof of any Reliable OBJECTIVE Indicators (of better-than-average odds of success)?

…the Harsh Reality is:

So, What DO We Suggest & Encourage…??


~99% of Startups Fail… But, WHY?!? [ThoughtsOnStartups.com]

Contact info@StartupWhatever.com to discuss, debate, whatever… [I have no interest in starting my own podcast, but I’d love to discuss/debate all this (and more!) on YOUR podcast!]

PREVIEWS / TEASERS

Pervasive PROBLEMS & Prominent PITFALLS:

1) Lack of Self-Awareness in Founders…

Most people have a GREAT level of self-awareness when it comes to the ability to play the piano or pilot an airplane; but many people (particularly entrepreneurs) have a terrible level of self-awareness when it comes to evaluating their own ideas, vision, strategy, likelihood of product-market-fit and/or overall probability of startup success… [To Be Continued]

2) Mis-Matched Skill-Sets Among Co-Founders…

[Preview] Startups are HARD. But they are much HARDER with the wrong people working on the wrong things! Why would you think you’ll be the ~1% to succeed if you don’t have GREAT people working on what they’re GREAT at…


Core Philosophies: Entrepreneurial Self-Awareness, Complementary Co-Founders, Objectivity over Optimism, Learning while Launching [“Multiple Baskets” of Resource-Sharing “Starter Startups” via Cross-Promotional “Collaborative Competition” Cohorts of…(wait, wtf?!?)]

Still a theoretical work in progress, so feedback/discussion is appreciated!
(Strategic Partners needed to make it a reality!)

FOR QUICK CONSIDERATION (and FUTURE DISCUSSION/DEBATE)

If “Great” = Top 10%
The chances of any given Entrepreneur being:
GREAT at [Ideas/Strategy/Vision] (10%)
AND being
GREAT at [Skills/Talent/Product-Side/Execution] (10%)
AND being
GREAT at [Operating a Business] (10%)
= .10 x .10 x .10 = .001 = 1 in 1000!
P.S. I’m not a Hater — I just like MATH! :)


And a few “FUNDING FRUSTRATIONS” thoughts…

NOTE: This first part doesn’t have a real point, a message, or lesson… I kinda just wanted to propose/document a pair of terms that I think could be useful in talking about investments in startups… (though, admittedly, I haven’t done much more than a quick google search to authenticate that I am actually the first person to coin these terms in comparative context with one another — so feel free to let me know if I’m an idiot and these terms have been around for years)
— — —

“Ramp Round” — a round of funding for a company when things are going well, to help the company ramp up faster. For example, you already know your customer acquisition cost is less than the lifetime value of a customer so it’s just a case of dumping money into your sales/marketing channels with a relatively safe bet that every X dollars will generate X+Y in return.
[Would make sense for terms to be somewhat favorable to both sides.]

VS.

STARTUP WHATEVER!

Startup *S.H.I.T. to Share! *Strategies/Hypotheses/Insights/Theories (to discuss/debate/demonstrate)

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