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Lessons Learned from Bill Gross' 35 IPOs/Exits and 40 Failures

Stashed in: 106 Miles, FAIL, Decisions, Startup Lessons, Awesome, Caltech, Rising meets Risen, @bill_gross

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To give a concrete example, let’s say you have the extreme of these four people sitting in a room.  They’re looking at the window and there’s a smudge on the window.  The producer would look at the window and say, “We got to get that window clean.  Let’s just have all the windows in the building cleaned as well. I’ll get someone doing that right away”.  The administrator will look at that and say, “There’s a scratch on that window or a smudge there.  Why don’t we have a form?  When someone sees something wrong, they can fill that out.  That will get sent over to HR.  That will then get processed.”  The entrepreneur looks at the window and sees a parking lot across the way and says, “I wonder what we could put over there?” He doesn’t even see the scratch, doesn’t see the window or anything. He’s just looking at the next frontier.  The integrator looks over there and says, “I wonder what those three people are thinking.”  Doesn’t see the window either and just cares about the people and how they can be brought together.

Right market, right people, right product, just not enough runway.....tolerating is all about respecting the skill. 

Running out of runway is the stupidest way a company can die:

And yet, so many startups die this way. Why?

"When starting a company, it’s incredibly easy to try and always make the perfect decision every time.  But you’re almost always better off with a decision that’s 80% right but made swiftly vs. a decision that’s 100% right made slowly.  As a startup you’re in the business of moving quickly, so make the best quick decisions you can.  Always bias toward speed."

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