6 Secrets to Startup Success: How to Turn Your Entrepreneurial Passion into a Thriving Business

6 Secrets to Startup Success: How to Turn Your Entrepreneurial Passion into a Thriving Business

by John Bradberry
     
 

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So you’ve got yourself a terrific business idea—and you’ve finally decided to go for it. If you’re going to take your startup from the initial burst of inspiration all the way through to the outstanding, “knock-it-outta-the-park” success you know it can be, you’re going to have to keep that

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Overview

So you’ve got yourself a terrific business idea—and you’ve finally decided to go for it. If you’re going to take your startup from the initial burst of inspiration all the way through to the outstanding, “knock-it-outta-the-park” success you know it can be, you’re going to have to keep that excitement, that spark of passion, alive through all the setbacks, hurdles, and lean periods every business is sure to experience.

But what if that’s not enough?

Here’s the harsh reality: Most new businesses fail within a few years of launch. And nearly all of those startups have been led by people with that same kind of passion and drive that you feel about your own venture.

Drawing on fascinating research and filled with compelling real-life stories of both success and failure, this groundbreaking book explores the benefits and dangers of startup passion, and it reveals key principles you need to follow to ensure your big idea is on the right track. In 6 Secrets to Startup Success, you’ll learn how to:

• Elevate Founder Readiness. The most fundamental driver of your startup’s early success or failure is you. This book shows you how to take an honest look at yourself as a founder, align your skills and your role with your venture goals, and aim your enthusiasm in productive directions.

• Cultivate a Market Orientation. All healthy businesses are rooted outside the founder, in the marketplace. Connect your business concept to a vibrant, real-world market, identify and get to know your core customers, and execute on your market opportunity.

• Develop a Clear, Compelling Math Story. Guard against the dangers of rose-colored planning by articulating a business model and strategy, thinking clearly about profitability and growth, and ensuring ample funding so your venture has room to thrive.

• Execute with Focused Flexibility. No amount of startup planning can accurately predict the unexpected twists and turns imposed by reality. Learn how to rapidly and continually improve the fit between your big idea and the marketplace by experimenting early and adapting with agility.

Filled with immediately usable real-world techniques and compelling examples, 6 Secrets to Startup Success puts you ahead of the pack, giving you the practical advice you need to ensure that your business is as successful as you know it can be.

JOHN BRADBERRY has improved the performance of a hundred teams and more than a thousand leaders over two decades as an entrepreneur, consultant, and investor. In 2007, he launched an extended study of the universal factors that drive new venture success. Please visit www.6SecretsBook.com.

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Editorial Reviews

Publishers Weekly
Millions of Americans start their own businesses each year despite the short and long-term failure rate of entrepreneurial ventures being notoriously (and staggeringly) high. Entrepreneur and consultant Bradbury sets out to discover why so many companies go under, highlighting lack of adequate planning and the entrepreneur's inability to distinguish between the true potential of the venture and their zeal for it, which he calls "The Passion Trap." While Bradbury's project is insightful, it's overly ambitious and attempts to convey too many messages. The real-life illustrations are colorful but repetitive. In addition to chapters arranged around key themes and anecdotes from his client cases, he also introduces various principles, sprinkles lists and questionnaires throughout the chapters, and pre-sents a range of frameworks ("the Basic Cycle of Iteration," "Core Pattern of the Passion Trap"), packing too many concepts into a slim volume. (May)
From the Publisher

"...engaging and informative....an excellent roadmap to not just pursuing your dreams, but also to figuring out if the dream is worth pursuing in the first place." - New York Journal of Books

“A must-read for anyone thinking about starting a business, this book is also a valueable tool for those who have businesses they are trying to keep afloat.” - New Age Retailer

Product Details

ISBN-13:
9780814416068
Publisher:
AMACOM Books
Publication date:
03/20/2011
Pages:
256
Sales rank:
1,336,146
Product dimensions:
6.20(w) x 9.00(h) x 1.20(d)
Age Range:
18 Years

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Read an Excerpt

The purpose of this book is to dramatically improve your odds of entrepreneurial success and enjoyment whether you aim to build a thousand-person venture or a solo consulting practice. It springs from my quest to understand what differentiates successful ventures from the large percentage of startups that disappoint.

In 2007, I set aside my work with large corporate clients to undertake a study of entrepreneurial success factors and work exclusively with early-stage companies, in which I took an ownership stake. I had solid experience to draw upon, having launched a successful consulting business, helped a favorite client turn a blank sheet of paper into a $100 million company, and worked to improve the performance of scores of management teams and a thousand executives over two decades. As I closely studied the entrepreneurial process, I came to under- stand that the “secrets” of startup success are not so secret, and not difficult to grasp. The fundamentals that distinguish healthy ventures—principles such as understand your market, know your numbers, get adequate funding, stay flexible, and manage by fact rather than assumption—are well understood by shopkeepers all over the world. But for some reason, many entrepreneurs overlook one or more of these fundamentals, severely undercutting their odds of success.

So I turned to a deeper set of questions: Why do so many entrepreneurs fail to take care of the basics? Why do extremely smart people rush to risk everything on untested business ideas? Why do so many founders underestimate their money needs, adopt pie-in-the- sky sales projections, or miss early signs that things are off track?

Most ventures are driven by passion and belief. Most fail.

Taken together, these statements are hard to reconcile, until we consider the possibility that entrepreneurial passion and startup failure are somehow tightly linked. Could the legendary commitment that drives and energizes so many entrepreneurs be the very thing that leads many of them astray? The more closely I observed the early challenges and choices of would-be business owners, the more clearly I understood how passion plays a powerful and central role in venture success and failure.

Drive, determination, fire, belief, optimism, courage, confidence, commitment, certainty, and faith—these are the forces that animate a new business and fuel and sustain entrepreneurs through the ups and downs of the new venture pathway. Each of these qualities, however, when magnified or misdirected, can lead to unhealthy business behaviors— to rose-colored forecasts, to unwise commitments, to inflexibility in the face of new data, or to a catastrophically bad fit between a founder’s skill set and the needs of the new business.

It doesn’t have to be this way. The good news is that you, as a founder, do not have to choose between passion and reason. You can do what you love and put the full force of your commitment behind your idea, while successfully navigating well-known startup challenges and minimizing inherent risks. This book is designed to help you do just that.

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