Great experience to be at #SUTD and share my experiences with the #MIbD cohort. This is my 6th guest lecture on the Ideate-Prototype-Realize series. Thank you Arlindo Silva for the opportunity. The 2024-25 cohort was very engaging. I must have responded to 30+ questions in the 90 min session. I am still amazed at how each cohort responds to the classic entrepreneurial decision dilemma of Rich vs King. [credits to Prof. Noam Wasserman from his book #foundersdilemma.] Check out the decision dilemma matrix at https://lnkd.in/geTmhNCr In this group of 20, it was a 3-way split. One third chose Rich; one third King and rest had no opinion. In my previous lectures at SUTD, I have seen the "Rich" outnumber the "King". #founders #startups - What do you think. Shout out to two of my former colleagues and #SUTD alums Shaun Phua and Yos Yohannes
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~Such an important POV 'How do I know if it's the right time? Don’t start a company just for the sake of it. While entrepreneurship is fashionable, more people have what I call 'operator DNA' rather than 'founder DNA'. It's important to examine your aspirations. The traits and motivations that make a great employee often differ from those that make a great founder. https://lnkd.in/dcxGT4bX'
I'm thinking of starting a company. How do I know if it's the right time?
sifted.eu
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For all entrepreneurs, the section on the seven questions every business must answer is invaluable (pg 153, Zero to One): 1. The Engineering Question Can you create breakthrough technology instead of incremental improvements? 2. The Timing Question Is now the right time to start your particular business? 3. The Monopoly Question Are you starting with a big share of a small market? 4. The People Question Do you have the right team? 5. The Distribution Question Do you have a way to not just create but deliver your product? 7. The Durability Question Will your market position be defensible 10 and 20 years in the future? The Secret Question Have you identified a unique opportunity that others don’t see? We can help you with that. Present at The Entrepreneurial Hour. We give you an hour for what you want at The Entrepreneurial Hour. We provide practical advice to #entrepreneurs every #wednesday at 8 AM ET in person at Tech Alpharetta or via #zoom. https://lnkd.in/euQ9hxzA zoom dot theentrepreneurialhour dot com References: Thiel’s Seven Questions Every Business Must Answer, November 16th, David Cummings https://lnkd.in/e2kZ_9n9 Zero to One: Notes on Startups, or How to Build the Future Hardcover – September 16, 2014 Peter Thiel https://lnkd.in/eY4xBPK Tina Azarm Donald "Louis" Gruver, Jr. Shane Matthews ATDC Dale Sizemore Tom Berger, Jade Rodgers, Virginia Nava Hieger Bill Hogan Mike Wach Melanie L. Flores Pamela Heydinger, MBA Navid A. Ehyaee Rahul Saxena #startup #orangepost #enterpreneur
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#Strategy one of the most intertemporal buzzwords in business (corporate, SoHo, startups, entrepreneurs, etc.) But do we really know: What is strategy? Why we need to have a strategy? When do we implement strategic initiatives? Which people are responsible to create strategic plans? How do we form and apply strategy? First of all it is crucial to be aware that strategy is made up of 4 distinct levels, each one is unique but it interacts and affects all other. A. #Corporate B. #Business C. #Functional D. #Operational
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Debunking the Myth: Age and Entrepreneurial Success There's a common belief that the most successful entrepreneurs are young prodigies, but the truth is quite different. While there are exceptions, research shows that middle-aged #entrepreneurs actually have higher success rates and create more valuable companies. Experience plays a key role in this. Seasoned founders leverage their accumulated #knowledge, #skills, and networks to navigate challenges and seize opportunities with greater ease. For those considering entrepreneurship, remember: #success doesn't come from rushing in. Take the time to gain experience, learn from others, and build a solid foundation. Age is not a barrier—it's an asset. #Entrepreneurship #Business #Startup #Innovation #HarvardBusinessReview
Successful entrepreneurs tend to be middle-aged — not in their twenties.
Research: The Average Age of a Successful Startup Founder Is 45
hbr.org
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It's always exciting to read books by people you know. I can highly recommend Mike Maples, Jr,'s book, Pattern Breakers. Mike is a legend, having been on the Forbes Midas List since 2010. I was fortunate to get an early draft of sections of his book, which I will share here for all you entrepreneurs out there—but make sure to buy and read his book! Inflections and Insights Mando—here’s a document I hope is useful during the ideation phase of your startup (my favorite phase). I developed this while writing my book, based on observing my most successful founders pivot their ideas around the same core inflections and insights. Inflections: What major changes outside your startup will empower people in the future? Inflection Definition: An inflection introduces something new (technology, regulation, belief) that can radically change human capacities or behaviors. They disrupt the status quo and offer startups more ways to win by working in an uncertain future. Bigger inflections are better than smaller ones. They can empower people more significantly or in greater numbers, leading to radical changes in behavior. Insight Definition: An insight is a non-obvious truth about how inflections can radically change human capacities and behaviors. They offer new patterns that disrupt the status quo. Insight Guide: In the future, [a new thing, who it empowers, and how it empowers them]. This will be enabled by [named inflections]. This future is non-consensus because [status-quo barriers to this future happening]. But this insight is right because [our hypothesis about how these inflections will prove them wrong]. And the timing is right because [statement of ‘why now?’]. Thank you again, Mike Maples, Jr, for sharing these early insights and for your invaluable advice to entrepreneurs everywhere. I will never forget your advice on great entrepreneurs are "time travelers" Well, it turns out that most of the great startups come from a great insight and a great insight usually occurs when someone is living in the future and they notice something that’s missing.
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?? Learn essential lessons from Peter Thiel's "Zero to One" for entrepreneurs: embrace uniqueness, focus on creating monopolies, and strive for radical innovation. - ?? Embrace uniqueness: Thiel emphasizes creating something truly unique rather than copying existing ideas. - ?? Focus on creating monopolies: Building a product or service with a unique value proposition allows dominating the market. - ?? Strive for radical innovation: Aim to create breakthroughs that reshape industries. - ?? The importance of starting small: Begin with a niche market to solidify your foundation. - ?? Scale intelligently: Thiel suggests scaling once a niche is established to maintain control. - ?? Continuous learning: Entrepreneurship requires a commitment to ongoing education and adaptation. - ?? Build a resilient team: Surround yourself with talented individuals who share your vision. - ?? Focus on sales: Thiel stresses the importance of generating revenue early in the business. - ?? Cultivate strong communication: Clear communication fosters understanding and efficiency. - ?? Understand financials: Thiel advises entrepreneurs to grasp financial metrics to make informed decisions. #Entrepreneurship #Innovation #BusinessSuccess ?? Understanding these principles can lead to sustained business growth. ?? Implementing Thiel's strategies involves challenging conventional thinking and taking calculated risks. ?? Exploring case studies and real-world applications can provide deeper insights into these entrepreneurial principles. 10 Essential Lessons From Palantir Co-Founder Peter Thiel's Zero To One For Aspiring Entrepreneurs https://lnkd.in/gNWMnG_V
10 Essential Lessons From Palantir Co-Founder Peter Thiel's Zero To One For Aspiring Entrepreneurs
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Management strategies that are based in the corporate world can hold back your startup: https://buff.ly/3UVnaJu #Quantive #MergersandAcquisitions #valuations #businessvalue #entrepreneur #exitplanning
3 Management Myths That Derail Startups
hbr.org
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An interesting article published in Harvard Business Review, showing that startups founded by older entrepreneurs are more likely to be successful than startups founded by younger entrepreneurs, among other interesting insights. “Among those who have started a firm, older entrepreneurs have a substantially higher success rate. Our evidence points to entrepreneurial performance rising sharply with age before cresting in the late fifties. If you were faced with two entrepreneurs and knew nothing about them besides their age, you would do better, on average, betting on the older one.”
Successful entrepreneurs tend to be middle-aged — not in their twenties.
Research: The Average Age of a Successful Startup Founder Is 45
hbr.org
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Seven out of ten startups will fail after five years.......... Statistics like these are not intended to discourage entrepreneurs. We should work smarter and harder to prove it wrong. We help companies to grow and thrive. We solve problems in a pragmatic and cost effective way. We want to help you and your company through the tough times and the success! Email us today : [email protected]
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In a compelling analysis by HBR, discover why scaling without hierarchy, chasing structural harmony, and relying on sustained heroics might not be the silver bullets for success you think they are. Unlock the facts and recalibrate your strategy for real results. #LaunchYourStartup #LaunchFinance #CFO #StartupAccounting #StartupTips #ManagementMyths #Entrepreneurship #BusinessStrategy
3 Management Myths That Derail Startups
hbr.org
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