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Startups are extremely hard to build!
I failed miserably when I launched my first company at 20. Now that I'm building a company again, I wanted to reflect on what company building & startups are about from all the lessons learned.
Thread
I failed miserably when I launched my first company at 20. Now that I'm building a company again, I wanted to reflect on what company building & startups are about from all the lessons learned.
Thread
Startups are about decision-making
. It's easy to fall prey to indecision, especially rabbitholing on low-impact decisions (i.e, should we have a red or blue color scheme?).
Here's a framework I've used (inspired by Bezos):
"is it a reversible or an irreversible decision?"
. It's easy to fall prey to indecision, especially rabbitholing on low-impact decisions (i.e, should we have a red or blue color scheme?).Here's a framework I've used (inspired by Bezos):
"is it a reversible or an irreversible decision?"
Reversible = Low Impact → Don't spend too much time
Irreversible = High Impact → Take your time & be deliberate
This framework contextualizes how much time you should spend on a decision.
Here's an example of that in action from @BrandonMChu: https://blackboxofpm.com/making-good-decisions-as-a-product-manager-c66ddacc9e2b.
Irreversible = High Impact → Take your time & be deliberate
This framework contextualizes how much time you should spend on a decision.
Here's an example of that in action from @BrandonMChu: https://blackboxofpm.com/making-good-decisions-as-a-product-manager-c66ddacc9e2b.
Startups are about time-management—what you spend your time on & how much
There're many things to do early on; having clarity around your work's net impact & who you talk to is pivotal.
Be intentional about what and who you spend your time with! https://twitter.com/sama/status/1333491951249760256
There're many things to do early on; having clarity around your work's net impact & who you talk to is pivotal.
Be intentional about what and who you spend your time with! https://twitter.com/sama/status/1333491951249760256
Startups are about ruthless prioritization
. Resources and bandwidth are scarce early on.
Lack of prioritization = lack of focus = burnout = inevitable failure.
Ask what's the one most important thing to get RIGHT for your startup & FOCUS on that! https://twitter.com/DavidSacks/status/1228174100931084289
. Resources and bandwidth are scarce early on.Lack of prioritization = lack of focus = burnout = inevitable failure.
Ask what's the one most important thing to get RIGHT for your startup & FOCUS on that! https://twitter.com/DavidSacks/status/1228174100931084289
Startups are about iteration — .i.e. testing lean and with speed!
Iteration isn’t just code — it’s talking to users, understanding their problems, and thinking what’s the quickest way to test and validate that. https://twitter.com/katebour/status/1031341268335554562
Iteration isn’t just code — it’s talking to users, understanding their problems, and thinking what’s the quickest way to test and validate that. https://twitter.com/katebour/status/1031341268335554562
Iteration without intent is futile—you have to know how to run good experiments!
TL;DR of @far33d's tweet. Good experiments:
- focus on the right themes
- solve user problems
- define what success is
- are bets, not optimizations
- are well-instrumented https://twitter.com/far33d/status/1225477397459288064
TL;DR of @far33d's tweet. Good experiments:
- focus on the right themes
- solve user problems
- define what success is
- are bets, not optimizations
- are well-instrumented https://twitter.com/far33d/status/1225477397459288064
Startups are about metrics
. Knowing what to measure & instrumenting it to expedite your learning.
A fantastic thread by @dunkhippo33:
https://twitter.com/dunkhippo33/status/1106585047564378112
Grateful I got to work with some amazing folks at @webflow, where I learned about data instrumentation
. Knowing what to measure & instrumenting it to expedite your learning.A fantastic thread by @dunkhippo33:
https://twitter.com/dunkhippo33/status/1106585047564378112
Grateful I got to work with some amazing folks at @webflow, where I learned about data instrumentation
Startups are about making mistakes
. My mantra is that if you're not making mistakes, you're not learning, and playing it safe!
Mistakes are a mechanism for expediting learning; the faster you make mistakes, the faster you learn! Even @naval agrees. https://twitter.com/naval/status/1220309894210846722
. My mantra is that if you're not making mistakes, you're not learning, and playing it safe!Mistakes are a mechanism for expediting learning; the faster you make mistakes, the faster you learn! Even @naval agrees. https://twitter.com/naval/status/1220309894210846722
Startups are about being aware of your competition yet being hyper-focused on your users/customers, their needs, and their problems
.
As @garrytan puts it, it requires "the empathy of a psychoanalyst + the curiosity of a sociologist." https://twitter.com/garrytan/status/1016060338691719168
.As @garrytan puts it, it requires "the empathy of a psychoanalyst + the curiosity of a sociologist." https://twitter.com/garrytan/status/1016060338691719168
Startups are about knowing how to talk to users!
Not latching onto what they say, but why they say it.
It's important to recognize and decouple what the user says vs. what they mean. "The Mom Test" http://momtestbook.com is a great read to learn how! https://twitter.com/JeffChang30/status/1230134951955304448
Not latching onto what they say, but why they say it.It's important to recognize and decouple what the user says vs. what they mean. "The Mom Test" http://momtestbook.com is a great read to learn how! https://twitter.com/JeffChang30/status/1230134951955304448
Startups are about storytelling, whether you're pitching to investors or recruiting your first hire!
As a founder, you're always selling! TL;DR of @justinkan's thread:
- Problem (the world today)
- Solution (something changes)
- Traction (the world now) https://twitter.com/justinkan/status/1197574952267874304
As a founder, you're always selling! TL;DR of @justinkan's thread:
- Problem (the world today)
- Solution (something changes)
- Traction (the world now) https://twitter.com/justinkan/status/1197574952267874304
Startups are about the late-night grind
. @JonathanZWhite and I have spent nights reading, iterating, waking up early to talk to users, & trying to do anything to get closer to our goal!
You work so much that it feels like an overnight success!
https://twitter.com/mikaelcho/status/1271450299383844865
. @JonathanZWhite and I have spent nights reading, iterating, waking up early to talk to users, & trying to do anything to get closer to our goal!You work so much that it feels like an overnight success!
https://twitter.com/mikaelcho/status/1271450299383844865
Startups are about people!
You're building a product *for* people and *with* people! It's important to realize that and humanize the process.
Laugh at your mistakes. Laugh with your users! Joke with your co-founders.
I wouldn't do it or be here if it weren't for the people!
You're building a product *for* people and *with* people! It's important to realize that and humanize the process.Laugh at your mistakes. Laugh with your users! Joke with your co-founders.
I wouldn't do it or be here if it weren't for the people!
