As a team, we built a company worth well over $100m.
As a CEO, mistakes I made easily cost hundreds of millions in enterprise value.
Learn from my mistakes.
A thread on some of the biggest mistakes and how to avoid them.
As a CEO, mistakes I made easily cost hundreds of millions in enterprise value.
Learn from my mistakes.
A thread on some of the biggest mistakes and how to avoid them.
1/ Mistake: Desperation hires focused only on filling a seat. Especially devastating in leadership roles.
Solution: Hire slow. Build the pipeline and build relationships over time. Allows for extended learning on strengths, weaknesses and culture fit.
Solution: Hire slow. Build the pipeline and build relationships over time. Allows for extended learning on strengths, weaknesses and culture fit.
2/ Mistake: Clung to poor performers too long. Again, even worse in leadership roles.
Solution: Stop making excuses. Upgrade your talent to your next level of growth. Give soft landings when an exit is necessary.
Solution: Stop making excuses. Upgrade your talent to your next level of growth. Give soft landings when an exit is necessary.
3/ Mistake: Unclear product value.
Solution: Be intentional on positioning. ππ½ thread explains how.
Solution: Be intentional on positioning. ππ½ thread explains how.
https://twitter.com/EvergreenMEP/status/1494643632506388480?s=20&t=N5V1W9ublhVuL08eqOm_Bg
4/ Mistake: Unable to explain ROI.
Solution: Use multiple types of ROI instead of waiting for data. ππ½ thread explains how.
Solution: Use multiple types of ROI instead of waiting for data. ππ½ thread explains how.
https://twitter.com/EvergreenMEP/status/1491755441789018117?s=20&t=N5V1W9ublhVuL08eqOm_Bg
5/ Mistake: Building features that had little to do with why a customer was buying.
Solution: Align roadmap and strategy to positioning. Build simple features the enhance existing ROI. And in the early days, build nothing else.
Solution: Align roadmap and strategy to positioning. Build simple features the enhance existing ROI. And in the early days, build nothing else.
6/ Mistake: Focused on growth at all cost.
Solution: Understand Customer Acquisition Cost and focus on profitable growth opportunities.
Solution: Understand Customer Acquisition Cost and focus on profitable growth opportunities.
https://twitter.com/barrettjoneill/status/1499380004932632583?s=20&t=N5V1W9ublhVuL08eqOm_Bg
7/ Mistake: Raised equity too early. Caused a lot of personal and team dilution.
Solution: Bootstrap as long as possible while getting product/market fit, ideally through the J Curve. Add services, etc. to drive cash.
Solution: Bootstrap as long as possible while getting product/market fit, ideally through the J Curve. Add services, etc. to drive cash.
https://twitter.com/EvergreenMEP/status/1499362504681705475?s=20&t=N5V1W9ublhVuL08eqOm_Bg
Learning from these mistakes can make your founder's journey easier and more profitable.
If you enjoyed this thread:
1. Follow me @EvergreenMEP for more of these
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