Archive for October, 2011

Do More Faster Chapter 3: Execution

This is my summary of the third chapter (theme) of Do More Faster. Feel free to check the summary for the first chapter here and the second chapter here.

Chapter 3: Execution

Do More Faster

  • Use your startup advantage over corporations. As a startup you are able to do more faster and take more risk.

Assume that You’re Wrong

  • Be able to admit when you’re wrong. You must be able to admit a mistake before you can fix it.

Make Decisions Quickly 

  • Use your advantage of being able to make quick decision in your startup. Head in the direction of where the market is going not where it is.

It’s Just Data

  • Learn how to sort through advice and decide what you think is good advice and what you think is bad advice. At the end of the day you should know what is the best decision for your startup.

Use Your Head, then Trust Your Gut

  • Use your data to make decisions but be wary about using your data as the #1 decision maker. Sometimes you just have to trust your instincts.

Progress Equals Validated Learning

  • Don’t measure your success purely on sales. Measure your potential to grow and be successful by knowing how to scale and automate your sales.

The Plural of Anecdote Is Not Data

  • Don’t take an anecdote as literal advice. Gather more information before you start using an anecdote as data.

Don’t Suck at E-Mail

  • Have a system for responding to e-mails. Accept the notion “You can’t get too much e-mail”.

Use What’s Free

  • Use free and open source technologies. Stick with proven solutions and keep it simple.

Be Tiny Until You Shouldn’t Be

  • Don’t be obsesses with growing your company. Focus on your product and once that is established you can focus on your company growth.

Don’t Celebrate the Wrong Things

  • Celebrate the important milestones in your company i.e. hitting a large customer mile stone, hitting a revenue target, etc… Things like getting a new round of funding only matter if you are able to actually succeed in making a great product.

Be Specific

  • Be specific to the things you are committed to doing, especially when it comes to release dates.

Learn from Your Failures 

  • Don’t hide your failures, learn from them. Wear them like a badge of honor, it lets people know that you’re experienced.

Quality over Quantity

  • Focus on having a couple really fleshed out features on your product instead of implementing every feature you can think of.

Have a Bias Toward Action

  • Be a person of action. Talk is cheap.

Do or Do Not, There Is No Try

  • Go for something or don’t, if it really matters to you do it.
Favorite piece from this chapter? “Have a Bias Toward Action” takes the cake. I’m always a fan of doing instead of talking, I like to show what I’m doing and not just talk about it.