ABOUT BOOK
Lost and Founder (2018) is a hands-on guide to getting your startup off the ground. Written by the founder of a company that’s already made it and packed with cheat codes and hacks, this is the ultimate insider’s playbook of strategies and tactics for struggling founders and would-be innovators
ABOUT AUTHOR
Rand Fishkin is the founder and former CEO of the marketing technology startup Moz. When Fishkin isn’t traveling the world giving talks on marketing, he can be found in the offices of his latest venture SparkToro, an audience intelligence search engine
A fascinating field guide to founding your startup
Welcome to the startup world, where a good idea and a convincing pitch can kickstart the path to global dominance. Just ask the founders of Facebook or Google!
But the phenomenal growth achieved by the tiny cluster of startups that became household names is misleading. Making it big in the startup sector isn’t easy. In fact, you’d better be in it for the long haul and learn to avoid the most common pitfalls.
Why choosing the wrong investors might tank your business
What an honest and transparent office culture can do for your business
The dangers of shortcuts and hacks.
KEY POINTS
1) Founding a startup isn’t a shortcut to fame and fortune, so dig in for the long haul
2) Make sure your product fills a gap in the market
3) The venture capital model is a gamble, and there are risks involved
4) Be transparent to avoid mistrust in your company
5) Take stock of your strengths and weaknesses to better understand your company’s dynamics
6) Team diversity and meritocratic promotion will boost your chances of success
7) Growth hacks and Minimum Viable Products often do more harm than good (Right MVP and Right HACKING)
8) Make sure you’re taking care of your existing customers before trying to grow your company
BOOK SUMMARY
Don’t let the hype about superstar startups lead you down the garden path. There isn’t a shortcut to fame and fortune. Getting your company off the ground will be hard work, so you’ll need to ready yourself for the long haul. If you want to make it, you’ll have to foster transparency and honesty. You should also assess your strengths and weaknesses and carefully consider your funding options. Do that, however, and you’ll be well on your way to success.
KEY TAKE AWAY
Consider your funding options carefully
Venture capital isn’t the only way of funding your company. In fact, its downsides might outweigh its advantages in your particular situation. So rather than jumping on the first offer that comes your way, take some time to carefully consider your options. From micro-VC to bootstrap, angel investment and crowdfunding, there are plenty of funding models out there to pick and choose from.
