1/14: I hate to be the bearer of bad news, but in the #startup world, if it doesn’t feel like you’re constantly running then your business is probably about to die. The same is true at highly successful bigger companies. Let’s start with an analogy: Image
2/14: Every morning in Africa, an antelope wakes up and knows it must run faster than the fastest lion or it will be killed. Those same mornings, a lion wakes up and knows it must outrun the slowest antelope or it will starve to death.
3/14: In the wild, staying still results in death by starvation or death by becoming dinner du jour. In the business world, death comes from being a “lazy lion” or a “slow antelope”.
4/14: A lion is usually an established dominant company in its ecosystem. Starvation results from being a “lazy lion”. By not aggressively stalking, chasing and killing antelopes a lazy lion enters a slow and gradual downwards spiral.
5/14: The lazy lion watches the activity in the #startup community but always has a reason not to take action. The lazy lion is overconfident in its current business model and brags to anyone who will listen about its last innovation.
6/14: The lazy lion only hunts when it’s already starving and by then it might be too late. Figuring out how to correct a downward spiral can take time and money as well as good ideas and talented people to execute. It's not guaranteed all the pieces can be assembled.
7/14: Switching from "starving lazy lion mode" to "lightning fast lion mode" in order to take down an antelope isn’t easy to do. Hunting skills atrophy. Other lions might have already taken down the slow antelopes. And the antelopes might have run out of reach.
8/14: An antelope is usually a #startup trying to take on everyone in its ecosystem. Being a “slow antelope” is paramount to death. While all startups are fast, remember that all antelopes are fast and every day some of them die.
9/14: The slow antelope ships code, but not as fast as other startups in its space. The slow antelope grows, but not as quickly as other startups in its space. The slow antelope learns, but not as quickly as other startups in its space.
10/14: The belief that all antelopes can outrun all lions is flat out false. Some large companies are very nimble and employ loads of smart people. All it takes is one hungry lion spotting your business and concluding “I can do that” to put everything you’ve built at risk.
11/14: While the analogy describes what it takes to win in a Darwinian market that’s constantly evolving, it doesn’t mean Leaders should use this as an excuse to burn out their people.
12/14: There are times when sprinting is essential but building a business is an endless marathon if you want your business to stand the test of time. Sprinting wears out a team and makes them slower later.
13/14: When a lion is about to eat you or you’ve fallen to the back of the pack of antelopes you have to sprint but otherwise you have to run “fast enough”. Knowing when to sprint is a critical leadership skill that many startup CEOs haven’t mastered.
14/14: So, I’ll leave you with this quote: Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Frank Rotman

Frank Rotman Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @fintechjunkie

8 Dec
1/11: I was in a Board meeting not too long ago where the CEO and one of the company’s Board members obviously weren’t seeing eye to eye. It was awkward and avoidable if each person realized how they were behaving. The situation reminded me of a well-known parable:
2/11: A man in a hot air balloon is lost. He sees a man on the ground and reduces height to speak to him. "Excuse me, can you tell me where I am?" "You’re in a hot air balloon thirty feet above this field," comes the reply.
3/11: "You must a Board member," says the balloonist. "I am," says the man, "How did you know?" "Well," says the balloonist, "Everything you told me is technically correct, but it doesn’t help me at all."
Read 11 tweets
8 Dec
1/X: I was in a Board meeting not too long ago where the CEO and one of the company’s Board members obviously weren’t seeing eye to eye. It was awkward and avoidable if each person realized how they were behaving. The situation reminded me of a well-known parable: Image
2/X: A man in a hot air balloon is lost. He sees a man on the ground and reduces height to speak to him. "Excuse me, can you tell me where I am?" "You’re in a hot air balloon thirty feet above this field," comes the reply.
3/X: "You must a Board member," says the balloonist. "I am," says the man, "How did you know?" "Well," says the balloonist, "Everything you told me is technically correct, but it doesn’t help me at all."
Read 11 tweets
27 Nov
1/30: There’s a supply/demand imbalance in the startup world (too much capital/not enough great companies). This means it’s a great time to be a Founder if you have an epic idea, but how do you know if your idea is any good? I asked some amazing VCs and here’s their advice:
2/30: Put a prototype in users' hands. When you try to take it away from them, do they kick and scream and tell you to get lost? If so, you've got a good idea. If not, keep iterating. (@Mark_Goldberg)
3/30: Can you can describe it in 30 seconds or less to a tech-illiterate relative at Thanksgiving? Great ideas are simple, but non-obvious. (@Mark_Goldberg)
Read 30 tweets
19 Nov
1/30: Many #Startup CEOs struggle to redefine their own role as their company scales. I’ve been asked by startup CEOs many times: “What should my job be?” What follows is a framework I’ve used to guide various CEOs through the evolution from a “Small Team CEO” to a “Proper CEO”:
2/30: But, before I share the framework I almost universally have to re-set their expectations because most first time CEOs think that their primary function is to “make all critical decisions”. Breaking them out of a “control everything” mentality is uncomfortable but essential.
3/30: What’s disappointing is that many CEOs can’t wrap their heads around the thought that they won’t be directly involved in everything happening at their company and in the middle of all critical decisions. Only when they’re ready to deal with this they can evolve.
Read 30 tweets
10 Nov
1/32: Building a #StartUp business has similarities to a spacecraft crashing down on an unknown planet. I talk to Founders about this all the time. Unpacked:
2/32: We’ve all seen blockbuster “how the heck are we going to survive” SciFi movies. The one commonality is that there’s an obvious prioritization of what has to be solved and in what order.
3/32: This is because all human beings need 3 things to survive: Oxygen, Water and Food. Without any of them we can’t survive. But, bad things start to happen if we don’t have oxygen for 3 minutes, water for 3 days or food for 3 weeks.
Read 32 tweets
3 Nov
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I share that seems to resonate well with Entrepreneurs and Investors is what I call “Truth Files”. Unpacked:
2/29: So what is a “Truth File?” Simple definition: “A truth file contains data that without need of additional confirmation can be considered factual.” Not all truth files are 100% accurate and not all are valuable, but the best ones can be transformational.
3/29: The operative question that defines how valuable a truth file is: “What does the truth file reveal that can be used as a substitute for investigative work or help make more accurate decisions?” The first reduces friction and the second improves outcomes.
Read 29 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!