I am working with a startup now, where the guy has a world beating idea that I really like. He is technically excellent and generally aggressive on his development.
He also is obsessed with patents, having had a few go to license for a decent cash flow. So he spends about 99% of his time polishing his patents, for which I will never see a dime. Can't convince him to finish his product, even though that would make his patent claims a lot stronger.
As you guys say, there are a millions ways startups fail. This is is very likely to fail, but he might get some patent payouts.
Vision, Mission, Strategy, Tactics, Objectives, Values and Culture -- understood at the front end are essential to maintaining FOCUS on the real goals of an enterprise.
Also, people skills. You don't have to be like each other, but you do have to know how to foster a spirit of cooperation rather than conflict, at least in the interim and long-term.
Contrary to what Ray Dalio may say and does say, frequently, LOL that is integral for a startup.
If your interpersonal communication skills are lacking, and that doesn't necessarily mean getting people to like you, but at least getting them to somewhat respect you, it just ain't going to happen.
This is, of course, true of every human endeavor from parenting to running a church.
It is not so much that people "like" you that it is they respect you, not in a fawning way, but that they acknowledge you have the competence to run the show. There are very few folks who actually want to run the show or have the talent and skills.
I went to a military school, Virginia Military Institute, that had a top reputation as an engineering school. It routinely was #1 in the number of engineers who passed their EIT on the first attempt in the country. Second was usually MIT or Lehigh. [Back in the day, VMI had classes on Saturday mornings.]
We also learned leadership -- which is a skill that can be taught just like management. More importantly, we practiced it whether attacking a hill or marching a section of cadets to calculus class.
We operated on a strict honor system. Exams were self-administered. Engineers usually had open book exams.
We lived in close proximity to our classmates with 3-5 in a room the size of my master bedroom.
When we walked out with VMI's course of education, leadership training, character development, and social dexterity, we joined the Army and spent 4 years soldiering.
That combination of VMI and being a combat engineer company commander (akin to being a feudal Chinese war lord) was all the education I ever needed to succeed in business.
Why?
Because I knew how to lead and enjoyed respect for my competence. I did nothing. VMI and the Army did the heavy lifting. I just learned. I also got an MBA in finance along the way.
Part of that was constant communication with my troops and my employees.
So, to your point communication is the lens through which all the other stuff is delivered to the followers. Nobody can be a leader without having followers.
There are a million reasons why startups fail -- sometimes it's just bad timing. Nothing else. Just early. Nothing more.
Sometimes, it's because the founder gave up when he was just 6" from the mother lode.
Sometimes, you never know the reason. It just crashes and all the King's horsemen and all the King's men can't put that broken idea together again.
They always fail when they run out of money. Money can't buy you love, but it can buy you runway.
JLM
www.themusingsofthebigredcar.com
I am working with a startup now, where the guy has a world beating idea that I really like. He is technically excellent and generally aggressive on his development.
He also is obsessed with patents, having had a few go to license for a decent cash flow. So he spends about 99% of his time polishing his patents, for which I will never see a dime. Can't convince him to finish his product, even though that would make his patent claims a lot stronger.
As you guys say, there are a millions ways startups fail. This is is very likely to fail, but he might get some patent payouts.
What an interesting problem.
Vision, Mission, Strategy, Tactics, Objectives, Values and Culture -- understood at the front end are essential to maintaining FOCUS on the real goals of an enterprise.
Good luck.
JLM
www.themusingsofthebigredcar.com
Also, people skills. You don't have to be like each other, but you do have to know how to foster a spirit of cooperation rather than conflict, at least in the interim and long-term.
Contrary to what Ray Dalio may say and does say, frequently, LOL that is integral for a startup.
If your interpersonal communication skills are lacking, and that doesn't necessarily mean getting people to like you, but at least getting them to somewhat respect you, it just ain't going to happen.
This is, of course, true of every human endeavor from parenting to running a church.
It is not so much that people "like" you that it is they respect you, not in a fawning way, but that they acknowledge you have the competence to run the show. There are very few folks who actually want to run the show or have the talent and skills.
I went to a military school, Virginia Military Institute, that had a top reputation as an engineering school. It routinely was #1 in the number of engineers who passed their EIT on the first attempt in the country. Second was usually MIT or Lehigh. [Back in the day, VMI had classes on Saturday mornings.]
We also learned leadership -- which is a skill that can be taught just like management. More importantly, we practiced it whether attacking a hill or marching a section of cadets to calculus class.
We operated on a strict honor system. Exams were self-administered. Engineers usually had open book exams.
We lived in close proximity to our classmates with 3-5 in a room the size of my master bedroom.
When we walked out with VMI's course of education, leadership training, character development, and social dexterity, we joined the Army and spent 4 years soldiering.
That combination of VMI and being a combat engineer company commander (akin to being a feudal Chinese war lord) was all the education I ever needed to succeed in business.
Why?
Because I knew how to lead and enjoyed respect for my competence. I did nothing. VMI and the Army did the heavy lifting. I just learned. I also got an MBA in finance along the way.
Part of that was constant communication with my troops and my employees.
So, to your point communication is the lens through which all the other stuff is delivered to the followers. Nobody can be a leader without having followers.
JLM
www.themusingsofthebigredcar.com