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Startup Passion Smack-Down SXSW 2012
- 1. Startup PASSION Smack-‐Down John Bradberry S X SW March 10, 2012 ReadyFounder Services, 2012 - All Rights Reserved Image by Joe Carr
- 2. #SXPassion
- 3. A FALSE DICHOTOMY Realism Passion
- 4. Strong YOU Passion Weak Strong Realism
- 6. Purpose Improve your venture’s likelihood of success. Photograph by Alex Guillaume
- 7. DETERMINATION COURAGE FIRE FAITH HOPE BELIEF OPTIMISM COMMITMENT DRIVE CONFIDENCE
- 8. You Can t Do It Without PASSION
- 9. An Exploration • 55 hours of interviews • 51+ books • 83 research papers • 500+ online sites, blogs, magazines, etc. • Filtered through 20+ years of personal experience and observation
- 10. Intuit Survey 4 of 5 working adults dream of star>ng their own business
- 11. Reality Most ventures close within 5 years of formation. 7 in 10 close within 10 years.
- 12. Reality 6 of 10 people who become self- employed go back to work for someone else within 10 years.
- 13. Reality The typical business owner will make 35% less over a 10-year period than if he or she had remained in their previous job
- 14. Reality Business owners report longer work hours and more stress, fatigue, insomnia, depression, and conflict with spouses.
- 15. WHY?
- 16. A Core Issue +
- 18. Beliefs: “Neurologically Real” Andrew Newberg
- 20. When New Data . . . are perceived as TRUE
- 21. When New Data . . . are perceived as FALSE
- 22. Confirmation Bias Representativeness Cognitive Biases Anchoring Illusion of Sunk Cost Fallacy Control
- 23. The Passion Trap Attachment Attachment to toan IDEA an IDEA Biased Investments Interpretation & Actions Feedback & Results
- 24. 6 dangers of startup passion
- 26. Missing a Market
- 31. Solutions
- 33. !41/25'%6! #$%&'(! 37! ")! ,-'./(012! #$(*! 33! +)!
- 35. Founder Fit Purpose / Motivation S k i l l s / E x p e ri e n c e Personality Support System Focus / Performa nce
- 36. Rapid-Fire Assessment ! All systems go. Great shape... Some concerns, questions Key gap or risk
- 38. Market Orientation • Shape your venture the outside-in • Attach to your market, not your idea • An idea isn’t great until the market says it is • Create and track “moments of truth”
- 39. Products and Needs are Inseparable Need Product Need
- 41. “Numbers Rule the Universe” Pythagorus
- 44. Levels of Iteration Broad Identity Business Model Scope / Impact Strategy Systems / Processes Products / Services Narrow Features Short Long Cycle Time
- 47. Earned Optimism
- 48. w w w . R e a d y F o u n d e r . c o m