Startup Success: Science vs. Practice

The Evolution of Startup Science

Over the past three decades, the science of building a startup has undergone significant refinement. A vast body of knowledge now exists, covering nearly every conceivable situation a startup might face. Esteemed figures like Steven Blank, Eric Ries, Saras Sarasvathy, and Alexander Osterwalder, along with venture capitalists and accelerators like Y Combinator, have contributed to this wealth of information. Today, metrics, processes, frameworks, models, and systems are readily accessible to any aspiring founder. The internet, coupled with social media platforms like Wikipedia, YouTube, LinkedIn, and X (formerly Twitter), has made this knowledge more discoverable and reusable than ever before.

The Unchanging Constants in Startup Success

Despite this abundance of theoretical knowledge, there are certain constants in the startup world that have remained unchanged over time. Drawing on my four decades of experience as a serial entrepreneur, incubator manager, and startup mentor, I've observed that while theory is important, the practice of this science—the actual execution in the real world—is where true success is forged.

The Dual Nature of Science: Theory and Practice

All sciences have two key components: theory and practice. The theory is now widely accessible, open-sourced for anyone to learn and adapt. It’s no longer a closely guarded secret. In fact, in new fields, creating an improvised theory from existing content is not the real challenge. The real challenge lies in practicing these sciences as a true practitioner—like a scientist in a lab, conducting experiments, gathering evidence, and applying the theory to specific contexts.

The real challenge lies in practicing these sciences as a true practitioner—like a scientist in a lab, conducting experiments, gathering evidence, and applying the theory to specific contexts.

The Crucial Role of Execution

For a practicing entrepreneur, mastering execution is paramount. The importance of execution, or practicing the science with all this accumulated knowledge, has only grown with the increasing complexity of the startup landscape. Success in a startup often hinges on the ability to execute effectively, which involves conducting well-thought-out experiments in the real world. These experiments not only test theories but also generate new knowledge and, ultimately, lead to the success of the startup.

Success in a startup often hinges on the ability to execute effectively, which involves conducting well-thought-out experiments in the real world.

The Importance of Teaching Practical Execution

Young entrepreneurs must be taught the art of practice. This is something that public institutions, academia, and startup enablers must emphasize if we want to foster more innovation and build a thriving startup ecosystem. Practice, like execution, is more nuanced and often more challenging than merely understanding concepts or generating new ideas by extrapolating or combining existing ones. Execution begins with discovering what works, what doesn’t, and why. It involves understanding what must be done to make an idea useful in the context of value creation and why customers would want your product or service.

Execution begins with discovering what works, what doesn’t, and why. It involves understanding what must be done to make an idea useful in the context of value creation and why customers would want your product or service.

Turning Theory into Real-World Success

While the theory of building a startup is now at everyone’s fingertips, the art of practicing this theory in the real world is where the true test lies. It is through diligent, informed practice that entrepreneurs can turn theoretical knowledge into real-world success. As we continue to cultivate the next generation of entrepreneurs, it is imperative that we focus not just on imparting knowledge, but on teaching the critical skills of execution and experimentation that will drive innovation and success in the startup world.