Uncertainty in the startup world is an inevitability, especially if we’re pursuing bold, potentially game-changing ideas. 

To help startup founders and CEOs navigate this landscape, my Mastering Uncertainty co-author Csaba Konkoly and I have written a piece for Fast Company about how VC investors approach the issue, with lessons leaders can apply to their own companies. 

Here are three key messages:

Spread your bets
VCs take thousands of pitch meetings, and invest in dozens of companies each year. For founders, this lesson of spreading your bets applies to both product experimentation and the process of raising capital.

Think “affordable loss” not “return on investment”
By definition, innovation involves risk and confronting uncertainty. Affordable loss is the only financial guardrail that makes sense in this context, where the potential upside of decisions is unknowable in advance.

Don’t take failure personally
Like VC investors, founders must remain optimistic when taking risks. Focus on the process, not the outcome, reframe failures and setbacks as lessons, and stay adaptable! 

Read the full article here: https://bit.ly/3GJuFwM

#startups #VC #founders

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