This is the last part from four presentations I did to a course for young entrepreneurs. In the last three lessons: Idea, Product and Team I did my best to focus on the things that will move the needle for you at the early stages. This fourth lesson is all about execution and it might be the most critical part.
The main points to focus on:
- Everything will follow you (=the founder) – So don’t “just do it” but try to do everything in the best quality you can provide. Hire when there is no other option. It’s challenging to find the talent that will join the founding group. So take your time and don’t compromise on real talent at the beginning. In a way, every member at the start should be a ‘co-founder’ material.
- You need growth and momentum so at the start be as focus as you can on the one thing that you bring to the table. It’s tempting to try and do more things but ‘more is less’ in this case. Do less and make sure it’s in a quality that will ‘wow’ your users.
- Get new things. Fast. Or in other words: “Move fast and break things” – It’s important to execute fast because it will give you the option to ‘fall’ quickly and find what works.
- Be obsess with quality – You need few people that love your product or service and not many that just like it. If people will love it – they will promote it. Which is the best thing that could happen to you in terms of growth.
- Measure what moves the needle – Too often, we measure what we can or what is ‘easy’. Try to find that things that are critical for your business and measure them.
The slides are as brief as possible because they meant to give just the framework. The real content is pass verbally. Here is the presentation as Google Slides.