Secrets to STARTUP SUCCESS

Venture-Level Strategies: Strengthening and Lengthening Your Runway

The metaphor of the runway is widely used among entrepreneurs to represent both the excitement of speeding toward a successful liftoff and the risk of crashing into the heap of floundering ventures just beyond the end of the pavement. What follows are four strategies for building a long, strong runway for your venture.

1. Launch close to the customer.

2. Address your biggest risks early.

3. Raise more money than you think you will need.

4. Commit resources wisely.

Secrets to STARTUP SUCCESS

Resources and Readings

Thanks to Internet search technology and social media interconnec­tivity, answers to most entrepreneurial questions can be found with a few clicks. I have attempted to list sources beyond the usual …

Startup Readiness Tool

This tool can be used to: ■ Evaluate and improve a founding team’s readiness to launch a business ■ Calibrate the timing of a startup effort (accelerate or delay) ■ …

PERSEVERE WITHOUT ATTACHING

The deepest form of entrepreneurial commitment acknowledges and accepts that there are forces in the marketplace that are beyond the founder’s control, forces that will impact the venture’s destiny for …

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