I have always considered myself to be a serial entrepreneur. I don't think I knew what that meant, right? My assumption was that meant you had five kind of puzzles going on at the same time. That is not a serial number. That's a parallel entrepreneur. And it's a terrible idea. So don't do that. You do one thing, get that growing to be successful, that can operate without you, then you get to go do a second thing. But you don't do you don't do more than one thing at once. And I think that was a kind of a hard lesson with the 5th startup, right?
This is sage advice. It may seem like we’re accomplishing much more as we multitask and tackle various projects at once but that’s not the typical end result vs being laser focused on a singular mission.
#entrepreneurship
Bootstrapping is something that almost was inevitable for me. It would be cliché to say that “it chose me” however, it was the best choice for me. As a startup, most times you are the business. While that means you complete all of the services, that also means you’re doing everything to help the company grow. Most people are limited in their knowledge of the growth and scaling of a company. When you realize that scaling has to do with capital, there is an understanding of the value of bootstrapping. I was hungry for success. After five failed startups, I was determined not to let Fearless to be another one. Bootstrapping was apart of that process.
This was part of a great talk with Brian Brackeen.
#Fearless#fearlessbaltimore#baltimore#dmv#Digitalservices#fullstack#Digitalculture#tech#technology#innovation#engineering#techbusiness#technews#science#design#medtech#GovTech#techfounders#DelaliD
𝐅𝐚𝐢𝐥 𝐅𝐚𝐬𝐭 - The typical Silicon Valley advice has resulted in unsolicited pre-mature killing of brilliant ideas and startups.
Be fast in your experiment but be patient in your expectations should be a better thought process.
Be a cockroach. Be patient and be resilient.
Why does every aspiring entrepreneur flock to Silicon Valley? Dive into the secrets of its success: ecosystem support, investment opportunities, and an unparalleled talent pool. Discover how this legendary tech hub has rewritten the rules of startup success. 🚀
#SiliconValley#StartupSuccess#GaryFowler#GSD#GSDSuperScaler#GSDAdvisory
What are the patterns of successful startups?🦄
Dr. Andre Retterath ran the numbers on 25k+ teams and found:
🔹Executives: 3-6 is best, single founder is worst
🔹CEO: Important to be founder, external CEO is bad
🔹Age: Teams with higher age are more successful; little difference between 25 to early 40s
🔹Education: Master and PhD similarly good, Bachelors and no degree both bad
The chart below shows the respective SHAP values.
Positive values = promoters and negative values = detractors to startup success.
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This Dr. Andre Retterath study seems very skewed. Pick the top 20 most valuable companies and track them from startup days and you will see a serious deviation from the result of this study.
Executive: 2 is a company, 3 is already a crowd. If you are founder, you always need to avoid beaucracies and make some unpopular decisions faster. If so many people has had to decide maybe Facebook would have bn sold out long before. During the recent market woes, FB kept buying back company's shares against popular opinion. The fewer the better when it comes to such contrarian junctions. You need to listen, be very informed, take a stand and bet on informed conviction.
CEO - founders are best CEOs at the building phase. Once the vision is fully translated, anyone can be CEO. Mid-way a good founder CEO is one who knows how to learn from the best and get things done through the experts.
Age - you always need to find the balance between agility and experience.
Education - how many founder and CEOs of top global venture have degrees? Ok, Google. But from Microsoft, to Amazon, Apple, Facebook, to Alibaba...all have no advanced degrees. What they all have in common is that they saw the future and they made some audacious kind of bet.
What are the patterns of successful startups?🦄
Dr. Andre Retterath ran the numbers on 25k+ teams and found:
🔹Executives: 3-6 is best, single founder is worst
🔹CEO: Important to be founder, external CEO is bad
🔹Age: Teams with higher age are more successful; little difference between 25 to early 40s
🔹Education: Master and PhD similarly good, Bachelors and no degree both bad
The chart below shows the respective SHAP values.
Positive values = promoters and negative values = detractors to startup success.
Interested in startups or venture capital? Check my free newsletter for more insights: https://lnkd.in/drJxkaMc
President/CEO Altus Technical Solutions, LLC
1w#TRUTH