You need lots of mentoring and guidance when you are start(ing)-up or taking your start-up to next level of growth. And the best way to learn and get mentored is to read lots of books or listen to someone who has already done that. Recently I came across an awesome content on how to take your start-up from 0 to 1 to n.
In the fall of 2015, Reid Hoffman began taking session called Technology-Enabled Blitzscaling at Stanford University along with John Lilly (a partner at Greylock and formerly the CEO of Mozilla), Allen Blue (cofounder of LinkedIn), and Chris Yeh (cofounder of Allied Talent).Blitzscaling is what you do when you need to grow really, really quickly. It’s the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale.
And I got more excited as entire session is also about why organization culture is important for blitzscaling. Because when you’re growing an organization very fast, you have to make people accountable to each other on a horizontal or peer-to-peer basis, and not just vertically and top-down through the hierarchy.
Session 1 is about Introduction to class. And Session 2 was with Sam Altman about “What Makes The Best Founders”.
Session 2 notes are extended with my inputs for better understanding. All these are common advice which most of us have heard again and again but often ignore.
- Getting things done quickly is one trait differs successful founders from those who have gone back to do job.
- YC prefer startup’s with 2 or more founders
- Issue with solofounders :- There are too many things to do at fast pace that doing it alone is tough . Second reason is start-up journey is too tough to travel alone
- Founding teams break-up if they don’t have an agreement on what kind of company they want to build
- Best start-up hire least
- Next successful start-up companies will never be building next Uber, Facebook, Linkedin, AirBnB(Ya I know Peter Theil also said this originally)
- Launch quickly and focus that users get addict to your product
- Whatever you are building, get 10% better every week
- If your users are telling you that your product sucks and new users are NOT coming, it’s time your startup is entering into the dead zone
- Pivoting is not about bragging how many times you went wrong. Failure should not shake you up , but at the end failure is a failure.
- Pivotes work when
- When you leave existing thing and build something you are passionate about
- When you are building something which is not working & got insights which doing this that people might need.Slack started as Gaming company pivoted to a messaging company
- Want to learn how start-up works, get a job in start-up that’s about to grow
- From product perspective, focus on LOVE not LIKE
- Founders’ should spend 10% to 20% of their time in solving organizational and technical debt problems. Manjor focus will always be on sales and growth.
- Many start-up focus on everything like getting the best logo, website, Lawyer, VC but fail to build a product which users love and get hooked to.
- Distractors while growing/doing start-up
- Focus on getting PR to show you are super hero
- Going to networking events
- Focusing on raising money than building product which actually solves a problem
- One mistake which every successful founder does is “Waiting too long to fire poor performers”
- Future belong to start-ups solving clean energy and affordable health
- Physical and Mental intensity required to work on start-up is HUGE, thus starting early to do start-up makes more sense.
- How to fire your friend from your start-up:- Remain human, treat them with respect, help them find a job
Session 1:- https://www.youtube.com/watch?v=s3RrVmv5WwA
Session 2:- https://www.youtube.com/watch?v=CxKXJWf-WMg
In the subsequent weeks, I will be sharing notes for all the session. So keep watching this blog for more…………