Eric Ries’ Post

Spotify founder Daniel Ek on why youth can be an advantage when starting a company Daniel Ek was 14 when he started his first company, and 23 when he started Spotify. In the clip below, he explains why youth can be an advantage when starting a company: “If you ask entrepreneurs, ‘would you have done it if you knew how hard it would be?’ Most would say no. But because you’re young—and in my case, you’re quite naive—you kind of go into situations like ‘hey this can’t be too hard.’” Daniel admits that when he started Spotify, he didn’t actually know that he would need licenses from record labels. “I think that’s what kept me going—I saw the solution. I didn’t see the problems in the way… A lot of people—if they have a lot of experience—will say, ‘this is not going to work because of x, y, z.’ But it turns out that most things do work.” When people approach Daniel with a startup idea asking if it’ll work, he replies: “In all honesty, I have no idea.” And he believes that’s “one of the most inspiring things ever.” He recalls the time somebody approached him in 2004 with a company called Skype. He thought the idea would never work. But it turned out to be a pretty big idea. “If you keep executing, the right person will figure out a way to sell umbrellas in the Sahara… It’s really all about execution. The idea is 5% and execution is 95%.” Source: Stanford University --- We curate the top 1% of startup advice from the world’s best founders and investors. Join 7,000+ founders who read the free newsletter at startuparchive.org

I watched again 'The Playlist' on Netflix because I think it's a masterclass in startup insights. This is what I leant: 1️⃣ Embrace Multiple Viewpoints: It’s incredible how the story changes through different lenses. Remember, your co-founders, investors, and partners may not always see the big picture the same way. Active listening and clear communication are crucial. 2️⃣ Adapt and evolve: Daniel Ek’s tough calls at Spotify show that adaptability it's crucial, even if it involves taking hard decisions for the good of the company. Be bold, be brave; your startup’s future might depend on it. 3️⃣ Aim for the Extraordinary: Like Daniel Ek didn't take the 'no' for response. Foster a culture where 'impossible' is just a challenge, not a dead end. This approach can lead to amazing results. Elon Musk it's another good example of this. Have you watched it? What did you think?

𝙒𝙝𝙖𝙩 𝙠𝙞𝙣𝙙 𝙤𝙛 𝙘𝙪𝙡𝙩𝙪𝙧𝙚 𝙖𝙧𝙚 𝙮𝙤𝙪 𝙩𝙧𝙮𝙞𝙣𝙜 𝙩𝙤 𝙗𝙪𝙞𝙡𝙙? Before you borrow best practices from anyone, including me, think about that question. I was recently listening to an Acquired interview with the founder of Spotify where he talked about borrowing best practices from everyone from Google to Facebook to Amazon. But there were two problems: – Those companies were at wildly different stages than Spotify was, so the practices didn’t always fit – And Spotify was becoming a frankenstein of other companies’ cultures, without a clear one of their own Part of that is just the process. Every great band starts out playing covers of their favorite artists while they find their own sound. At the same time, if you define some idea of what you want for culture first, it makes it a lot easier to ID what’s working for you and what isn’t. If you can answer core questions like whether you’re a “move fast and break stuff” or a “slow and steady wins the race,” you’ll likely have a pretty stable foundation principle to filter against and build around. For Excedr, we want to still be here doing this work 100 years from now. We’re definitely a “slow and steady wins the race.” But there’s a million different ways to build a successful company. Decide what works for you, and align the rest around it. #culture #startups #leadership

🆘 One of the top questions for early-stage founders: How do I find my first customers? No reputation, no social proof, no testimonials (yet). Where do I start? Breaking into the market as an early-stage startup, with no reputation, can feel like a Herculean task. Natasha Davidson (ex EMEA CMO Coursera, ex VP marketing at Blackboard) shares tactics from trials to diagnostic clinics. This isn't just about showing your product; it's about curating experiences that can later become compelling testimonials—even if the end outcomes aren't yet fully realised. She breaks down how to harness the power of authentic testimonials and customer stories and cut through the noise. If you're thinking about how to tell your startup's story in a way that engages, Natasha's insights are your go-to resource. See the full episode on: 👉 Youtube: https://lnkd.in/d4FvtjVj 👉 Spotify: https://lnkd.in/dq4Su2-E 👉 Medium: https://lnkd.in/d8VqxC4S

As we approach the end of another year, I find myself reflecting on the rollercoaster journey I've had over the past 8 years. 🚀 From late-night brainstorming sessions to pivoting strategies in the face of unforeseen challenges, our path has been anything but linear. The world of startups is a realm of constant uncertainty, but it's also a testament to the power of resilience and innovation. There have been moments of doubt, where the road ahead seemed shrouded in fog. We've learned that every setback is a setup for a comeback. As we stand at the threshold of a new year, I'm filled with gratitude for my family's unwavering spirit and support. My journey is a reminder that in the midst of uncertainty, there lies immense potential for growth and success. Let's carry this spirit of hope and perseverance into the new year. Here's to embracing challenges, celebrating victories, and continuing to innovate with passion and purpose. 💡✨ The future is uncertain, but it's also bright, and we are ready to write the next chapter of our story. And I am gifting everyone with my Spotify playlist - Bootstrap Beats https://lnkd.in/gpqJbsH4 #TechStartup #Innovation #EndOfYearReflections #HopefulHorizons #keepmydayjob #notaDJ

Appreciate the opportunity to reflect on the journey so far Guy Ligertwood 🍩 and Farzan M. The Lab17 📈 Major Milestones 🌐 Diverse Global Upbringing: Cultivating a worldview shaped by varied cultures. 💼 Spotify Stint: Witnessing explosive growth, sowing seeds for future endeavours. 🛠️ Transition from Build Phases: Shifting from individual projects to a broader, impactful solution. 🌟 Launching Lab17 in 2019: A remote-first, multi-continental enterprise focusing on talent and culture. 🤝 First 10 Clients: Leveraged a rich network, thriving on referrals and proven trust. 🎯 40 Customers Milestone: Expanded through strategic partnerships and refreshed branding. 🧭 Founder's Challenge: Embracing the founder's role, aligning decisions with vision and mission. 🔑 Key Lesson for Founders "The art of entrepreneurship lies not just in the conception of an idea but in its execution and validation." Nick Ingall emphasizes the criticality of validating a problem and its solution, a lesson learned from past ventures. Understanding the problem's cost and the value of its solution is paramount. Read the full Story on Founderoo. (Link in comments)

I use to be part of a magical startup culture that created timeless lasting bonds. We are all still connected in the tech industry and would work together again in a heartbeat. We use to lock ourselves in a war rooms and not leave until issues were resolved and different opinions got reconciled. We committed to every obstacle with this mindset. At the time, I was too young to realize how special that was. Then I worked for founders paralyzed by fear, ego, and trust issues. We would debate issues endlessly with no resolution and infinite follow ups. Every debate ended with power tripping followed by offline finger pointing. Last week, I watched my old classmate take centre stage, presenting keynote in front of a 15k audience. He is one of 7 cofounders who, over a decade, built a startup and scaled their company globally, now valued at ~$43 Billion. 7 is a big number of people to stay aligned throughout 11 years. I asked him how that is possible, and he said they have an intentional debate culture. 11 years later, they still lock themselves in a room at least 5 hours a week to debate and align with no distractions. It’s not the first time I have heard of successful debate cultures. Spotify debates with words. Canva debates with visuals. Debate, commit, and just get on board. It’s simple (and possible).

I was listening to a song on Spotify and skipped the next song that randomly played within 15 seconds. And you know what Spotify did? . . . It didn’t show me that song again. Applying the same logic to #B2B Startups, I feel #tech businesses do not get more TAM coverage on the search/other product features they sell. But rather #recommendation algorithm. Telling the user why a particular plan would be good for them rather than displaying the prices on the #landingpage. Solving a customer pain point by recommending something to the user that they may want, even though they consciously don’t even know about it, is one way. That’s the #blueoceanmarket. Creating new demand that does not exist is the core of deep blue ocean markets where even the market competition becomes irrelevant. Are you swimming in the #Blue or the #Red Ocean?

First Youtube. Now Spotify. You can listen to every episode of The Roadmap on the link below. And here's what we talk about: ➡ How to create a successful software product. ➡ How to manage development teams. ➡ How to raise funding for your startup. And our guests are: ➡ CTOs ➡ Founders ➡ Angel investors and many others. So if you'd like to learn how to create a software product from experts who've been there and done that — you're at the right place. #software #product #podcast

The story of Spotify’s CEO that every entrepreneur MUST know about! Back in the day, Daniel Ek kicked off his business journey by creating websites right from his home. He started small, charging just a hundred dollars for his web skills. But he didn't stop there. He kept leveling up, charging $200, and then he hit the big leagues, charging a whopping $5,000 per website. He brought his classmates into the mix. He promised them video games in exchange for their help in building websites. His earnings shot up to a solid $50,000 every single month. Fast forward to now, and Daniel is the brain behind Spotify. He co-founded it with Martin Lorentzon in 2006. He has a net worth of over $4 billion as of now. As someone who’s been in the business field for so extensively long, his entrepreneurial advice isn’t easy to ignore. He suggests: 1. Don't bite off more than you can chew: Keep it simple, concentrate on what really matters, and say "no" to the rest. Multitasking? Say goodbye to it. 2. Start small, solve big: You can't change the world overnight. Start by helping a smaller group, make their lives better, and then spread your wings slowly. Now that we just discussed the growth of a music platform here, which platform do you think is the best and why? Spotify, Amazon Music or Apple Music? Follow Sujit Jha for more founder's insights. LinkedIn for Creators #Founders #learnfromfounder #startups #startupindia