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Startups Are Tough
But You Don’t Have To Rei
But you don’t have to reinvent the wheel.
Startups are tough, but you don’t have to reinvent the wheel.
There’s some proven rules that universally apply that will make building 10x easier.
If you’re a startup founder or entrepreneur, you need to live by these 6 commandments.
1. The 80/20 Principle:
When you start a business, you work 80% ON it (Production, Sales, Marketing) and 20% IN it (Billing, Support, L&D).
As it becomes successful, the ratio reverses, growth stalls.
Prioritize hiring people who work IN your business till it hits $1 M ARR
2. Ask More, Assume Less:
Entrepreneurs are self-driven, market is customer-driven.
High conviction creates blind spots, blind spots create pitfalls.
Learn the art of asking great questions.
Pro Tip: Always Keep “The Mom Test” close at hand.
3. Greater Good > Money:
All successful businesses are manifestations of contributing to the greater good.
Money, fame, and success motivate, but the greater good creates urgency and allegiance.
Remember, money is a tool, a means to facilitate results.
Noble causes = Abundance
4. Learn To Say No To Opportunities:
As new entrepreneurs, Zero to One is daunting, uninspiring, & disheartening.
Every person offering something feels like a ray of hope amidst desperation.
Say NO to opportunities based on:
· Over expansion
· Flex culture
5. Spend Miserly:
Running out of money is the most common reason for startup failures.
Everything is uncertain when starting a business, except that you’ll burn cash.
Discipline your cash flow management, operate lean, & fight for every penny.
No Cash = Chaos
Cash = Confidence