The 13 lessons that I learnt from my startup

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In 2016, I took a decision to start my first startup. Between 2016 and 2019, I created three products. And during that journey, I captured 13 lessons. Surprisingly, they are familiar; we read about them; but we fall into the trap of not responding right to them 🙂

(1) Hire those people who are passionate about what THEY ARE doing; they would go far with you even if they are less skills than those who are skillful but less passionate..

The same is mentioned in “delivering happiness”

(2) governance.. governance ..

“people do what you inspect rather than what you expect” said by Luis Garstner in his book “who says elephants can not dance”

(3) culture and process … pay attention to them and start building the organization with them in mind.. make them part of the DNA of the organization .. this would drive and facilitate hill of decisions over your journey.. it is never waste of time or money..it is never a complication…

same meaning is mentioned in “good to great .. why some companies make the leap and others don’t”

(4) focus . ..

Never diversify at the beginning.. a startup can be fragmented easily; vulnerability is extra high…

This is stated explicitly in every single business book I read .. and said explicitly by each person I met in business; both failure and success stories say the same !

Thanks to Chris Zook is who was the first to grasp my attention to such a principle..

(5) know what your core capability is; never outsource it.. if you don’t know it, just known it .. it would be your key differentiator and the driver of your value proposition…

thanks to Chris Stadler stating the same in his book “building enduring success”

(6) success is more than a technology… more than a process .. more than a leadership… it is a combination of excellence across all domains…

(7) plans are more than Gantt charts; they are about executing what you plan to execute 🙂

(8) it is more than a single tipping point … it is a combination of luck, planning, and multiple tipping points …

mentioned in “the tipping point” book

(9) being happy requires LESS efforts than what you think that you need do to be happy…

I kept laughing when I read this in “delivering happiness” … it is true 🙂

(10) big statement; you will find million fathers of a success; if any!

(11) learn from your mistakes fast and take tough and aggressive decisions to bring things back on track …

Finally;

(12) Do what you like and what you are interested in … remember that you are entrepreneur; you do what you like and what you are interested and believer in…you are here because that you wanted that… Mentioned implicitly by every success story; Steve jobs; Tony Hseih and more…

(13) it is a high probability that you will fail in your first startup; just be ready to start the next …