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Hockey Stick Principles (Blade Years (Principle #22
You can’t build it…
Hockey Stick Principles
Tinkering
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Principle #3
No idea is yours alone; You can never escape competition, you have to outcompete it
Principle #4
Following a Roadmap is a road to the predictable; innovating is the uncharted learning of discovery
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Principle #7
Ideas are made to be shared, not stockpiled
Principle #8
Feedback is meant to be challenged, not bowed down to
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Principle #13
Accurate predictions of costs and revenue are not possible; Plan to spend more than you think you’ll need and to earn little to nothing
Principle #14
“Bootstrapping” should be the start-up founder’s word for “standard operating procedure”.
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Principle #16
Making money by other means allow you to leverage your time to support the building process.
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Blade Years
Principle #22
You can’t build it and expect a market to come; you have to build your market as you build your product.
Principle #23
Be both rigorous in your daily planning and highly flexible about going off-plan at any moment.
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Principle #32
No matter how big your splash, sales may not come.
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Principle #35
Don’t dis the market that shows up for you, no matter how unexpected.
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Principle #40
No one else can care as much about your customers and learn as much from them as you can.
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Principle #43
The way to scale up sales can only be discovered, not forced.
Principle #44
Chasing investment capital is not a strategy for growth; it’s a distraction from learning how to grow.
Principle #45
Do to tell yourself to be okay with failure; tell yourself keep trying every single thing you can so that you don’t have to be okay with it.
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Principle #48
Continually add features and services customers tell you they want, and ruthlessly jettison those that most don’t respond to.
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Principle #50
Don’t work on fixing only the part of the model you think is broken; think of improvements even for the parts you think you’ve got right.
Inflection point
Principle #51
Don’t spend lots of money to fuel fast growth until you’re pouring it into a high-performance engine.
Principle #52
Scale up only in step with the success you are already generating; don’t try to force the machine
Principle #53
Once you’ve achieved takeoff, focus on accelerating with what’s working; now is the time to scale up, not to keep making changes.
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Principle #55
If you invest all or most of your profits in growth, the growth must be worth more than the profits.
Principle #56
Your employees should not be asked to forgo banking profits; reward them commensurate to your rate of growth.
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Principle #58
Scale up operations only as fast as your team can skate and still stay in well-coordinated formation.
Principle #59
Do not let numbers make decisions for you; the qualitative must be paired with the quantitative to make good choices about growth.
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Principle #63
Big forms don’t have all the power; they want your innovation and hustle as much as you want their market muscle and customers.
Principle #64
Raise capital to boost or sustain strong growth, not search for it.
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Principle #66
Managing your relationships with the board is as vital as managing your relationship with customers.
Principle #67
Once you accept the venture capital, you’re on a ticking clock to either acquisition or IPO.
Principle #68
Venture capitalists do not lead start-ups to success; they bet on them being successful.
Principle #69
Think of accepting outside capital as investing your equity; take a portfolio management approach.
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Principle #71
You must learn to sell your company, not just your product.
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Principle #73
Don’t show up for the investor negotiation gunfight with a knife; hire experts to join you.
Surging Growth
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Principle #75
Good managers are made, not born.
Principle #76
A fast growing organisation without top-quality managers is like a team of star players without a coach.
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Principle #83
If employees don’t know you, they know you don’t know them.
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Principle #85
If you’re not weeding out inferior performers, you’re letting the rest of the team down.
Principle #86
If you don’t learn to love to manage, find a CEO who does.
Principle #87
Carefully consider whether or not you would like to sell your company well in advance of needing to know whether you have to.
Principle #88
When selling your business, you’re selling your passion.
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Principle #90
The value of satisfaction of guiding the long-term success of your company cannot be quantified.
Principle #91
A founder should be the star player of an IPO, not sit on the sidelines.
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