Tag Archives: best practices

THE 10 COMMANDMENTS OF STARTUPS

By Howard Tullman

Moses and 10 Commandments T Getting a business off the ground is difficult enough. Don’t commit the mistake of making it more complicated, too.

Recently I spoke on business basics at the Chicago Startup Summit. The central idea was to ask how we can change businesses for the greater good, either by creating businesses that specifically focus on doing good or by helping existing businesses think about—and implement—cost-effective and innovative ways in which their business can address broader social concerns. The goal is a double bottom line—profit and public good.

I was talking about bedrock basics, while super-smart people were talking about concepts and ideas that sounded a lot more like rocket science. I usually focus on what I regard as the five main requirements for success in business and, of course, in life: passion, preparation, perspiration, perseverance and principles (or values). The Summit offered an opportunity to broaden the conversation to ten commands.

It’s amazing how little these fundamentals vary. Some have been foundational for almost half a century.

 

Moses and 10 Commandments

The Ten

1 – You Get What You Work for, Not What You Wish For

Hard work always wins. In the real world, effort trumps talent. Hope is not a strategy. We may not outsmart them all, but we’ll certainly outwork them.

.

2 – Keep Raising the Bar

Constant iteration is the key. You get better by getting better. Successive approximation beats postponed perfection. There’s no finish line—ever.

.

3 – Shoot for the Stars

Always ask for the best seat in the house. You miss 100% of the shots you don’t take. If you don’t ask, the answer’s always “no”.

.

4 – Don’t Sell Yourself Short

Feasibility will compromise you soon enough. Don’t allow yourself to be defined by the limitations of other people. Fueling your fears is a waste of imagination.

.

5 – Keep Moving Forward

Excellence is always anchored in perseverance. A “No” is only a “No” for now. Over every hill is another hill. The only easy day was yesterday.

.

6 – Start Now with What You Have

Waiting doesn’t necessarily get you to a better answer. The time will never be “just right.” Elaboration in planning is a form of pollution. A good plan executed today beats a perfect plan next week. It’s easier to ask for forgiveness than permission. Only the winners decide what the war crimes were.

.

7 – Nobody Said Life Was Fair

In the world of startups, there are no rewards or punishments, there are only consequences. Some win, some lose, but those who don’t constantly change will die for sure. There’s no such thing as a good excuse. Make smart mistakes and don’t repeat them.

.

8 – Never Play the Blame Game

People who blame their circumstances for their situation will never change things for the better. The ones who succeed look for the conditions they need to succeed and—if they can’t find them—they make them. When you continually blame others, you give up your power to make things better.

.

9 – Sometimes the Baby is Just Ugly

Time is the scarcest resource. Opportunity costs are everything. If you’re digging yourself into a hole, the first order of business is to stop digging. Don’t be reluctant to change your mind. Don’t try to do things cheaply that you shouldn’t be doing at all. Be stubborn on vision; flexible on details.

.

10 – Make Something that Makes a Difference

Focus on making a difference and making a life rather than just trying to make a living.

.

howardtullman_1341323467_43

Howard Tullman is the father of 1871, the great Chicago incubator.

Contact Howard at 1871@tullman

This article is an excerpt from a larger piece.

Portrait and Image of Moses & 10 Commandments courtesy Getty Images, Howard Tullman.

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2016 John Jonelis – All Rights Reserved

.
.

Advertisements

Leave a comment

Filed under 1871, angel, angel capital, angel investor, chicago, Chicago Ventures, Education, Entrepreneur, Entrepreneurship, Innovation, Innovation and Culture, new companies, vc, venture capital

UNDERESTIMATING THE COMPETITION

Olga of Kiev Tby Robert Jonelis

Ever face a crisis situation?  Raw panic?  Of course you have.  We’ve all been burned by miscalculation, greed, and shoddy research.  People have been making the same mistakes for quite a long time and a young woman from the 10th Century can teach us a pointed lesson about the importance of accurately sizing up the competition.

Miscalculation

Meet Princess Olga.  She lived in Kiev back in the 900s with her husband Igor, ruler of Kiev, and their young son Svyatoslav.  Igor was leaning on the Drevlians, a neighboring people, for tribute.

The Drevlians decided that killing Igor would be cheaper than paying up, so they assassinated him.  That left Olga, a young widow, as regent for her three-year-old son.

The Drevlians were now dealing with an angry leader that they had badly underestimated.

.

Greed

The Drevlian ruler wasn’t satisfied with merely eliminating the payment of tribute.  He could do even better.  If he married Olga, he’d rule Kiev!  After all, she was a poor widow with nobody to protect her or rule her kingdom.  He dispatched a group of important Drevlians to make the pitch to Olga—something along the lines of, “We know you’re single since we killed your husband, how about you marry our leader?”

Olga’s response was not what they were hoping for.  She buried the envoys alive.

.

Shoddy Research

Before news got out about the demise of the Drevlian ambassadors of love, Olga sent word to the Drevlian leader that she accepted his proposal.  However, she said, for her people to accept her remarriage, the wisest and most knowledgeable of the Drevlians must come to serve as an honor guard on her perilous journey.

When these men arrived, she burned them to death.

Undeterred by her delayed arrival and still blissfully unaware of events, the Drevlians send a huge contingent to a feast put on by Olga.  A large number of them became exceeding intoxicated.  Her soldiers then attacked the largely helpless drunks.  Several thousand more Drevlians perished.

Pieter_Bruegel_the_Elder_-_The_Dutch_Proverbs 500

Painting by Pieter Bruegal the Elder

The Drevlians finally caught on that Olga was less than happy with them, but by this time she was gathering her army.  Deprived of much of their leadership and a significant chunk of their manpower, things didn’t go well for the Drevlians, and Olga soon besieged their main city.

.

Crisis Management

Sensing doom, the Drevlians tried to negotiate peace. Olga responded that all she required would be three live pigeons and three live doves from each Drevlian household as tribute. (Drevlian families commonly kept bird coops on the roofs of their homes).

The night after delivery of the tribute, Olga’s troops tied a piece of string to the leg of each bird, bearing a flaming material.  They released the birds, all of which immediately flew back to their homes.  Every building in the city caught fire at about the same time.

.

Panic Mode

The Drevlians fled their flaming fortified city into the arms of Olga’s waiting troops.

The Drevlians underestimated their competition.  This is probably why you don’t hear much about them today.

Ω

.

Bob Face 2

Robert Jonelis is a mathematician and history buff who knows how to tell a good story.  He spends his days programming automated machinery in search of the perfect robot.

.

This article originally appeared in NEWS FROM HEARTLAND – The Journal of the Heartland Angels.    http://news.heartlandangels.com   Copyright © 2014 John Jonelis

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2015 John Jonelis – All Rights Reserved

.
.

Leave a comment

Filed under angel, angel capital, angel investor, Characters, Chicago Ventures, Education, Entrepreneur, Entrepreneurship, Entrepreneurship and Politics, Financial Markets, Fiscal Policy, Innovation and Culture, Marketing, new companies, vc, venture capital