The three risks startups face, by Christopher Lochhead, PandoDaily
Adam Rifkin stashed this in 106 Miles
Three out of four venture backed companies don’t make it, and less than 1 percent achieve an initial public offering.
To succeed, an entrepreneur must understand the three main risks facing every technology chief executive:
1) Category risk: Is your market large, valuable, and growing?
2) Competitive risk: Are you about to be disrupted?
3) Execution risk: Can you produce legendary results every quarter?
General Patton once said, “A good plan, violently executed now, is better than a perfect plan next week.”
Legendary companies have an almost military level of execution discipline. They focus on the keys to winning — people, process, and technology — and have clearly defined goals. This great execution comes from that elusive intangible characteristic called company culture.
I love that General Patton quote. So does Bill Gurley.