1. Paying attention to Details,
its all in the Details
By : Mr.Mufaddal Zakirhusain
2. Pop Quiz
When starting a business, which is the most
important?
1) Be laser focused
2) Develop a detailed plan – and stick to it
3) Raise large amount of capital
4) Hire only A players
5) None of the above
6) All of the Above
3. Decision Making
• Are decisions opinion driven or data driven ?
• Are decisions informed by vision ?
• Is optionality increased or decreased by decisions ?
• Is the right question being asked ?
• How much data is required for knowledge or insight?
• What are the potential outcomes ?
• What is the right acceptable level of risk?
• Does the range of options affect outcomes?
• Are we measuring the right factors?
• How long is our decision loop ?
4. Key Rules of Measurement
• Measurement drives behavior
• Data should drive decision making
• Measure your competitors not just yourself
• Understand your Battlespace
• Data drives knowledge , knowledge drives advantage
• Superior Situational Awareness starts with superior
data collection
7. Spirally Developed Strategy
Code & Fix
1. Develop a Vision of the Future
2. Check Strategy
3. Select Battleground Market
4. Understand your competitors
5. Generate Tactics
6. Find & Win Lighthouse Customers
7. Adjust with Feedback
8. Dominate the Battlespace
9. Find the next Battleground
10.Repeat steps 2-9 until the war is won
11.Prepare for the next war
8. Measurement and Feedback Loops
• Benchmark yourself – Time & Resources, Goals and Objectives
• Observe your customers - what are their priorities, requirements and
decision process
• Track your competitors – understand their value proposition
• Understand your range of moves – find the one right question to
answer
• Plan your move – judo your competitors strength
• Force Action – make competitors play your game
• Review results – learn from failures, pursue success
• Adjust strategy – Be flexible , stay fluid
9. In the Beginning
Which details Don’t Matter
• Business Plan
• Business Models & Financials
• Work Environment
• Venture Brand
• Capital
10. Business Plan / Presentation
• The best business plans are “Directional correct”
• Strategy counts more than minutia
• Spirally develop business models
• Slick – Sucks
11. Business Models & Financials
1. Many of the best startups had fuzzy business
models
2. Focus on demand , not monetization
3. Burn vs …Profits, Scale vs ..Margins
4. Worry about the board that stares at
spreadsheets
12. Work Environment
• The performance of a startup is inversely related to
the quality of its office
13. Venture Brand
• Buy Partners not Associates
• Most Venture Funds profits are driven by one or
two partners
14. Capital
• Raise only what you need
• Too much cash makes you fat , dumb and stupid
• No Pain , No Gain
• Desperation drives Innovation
• Capital finds great entrepreneurs and ideas
15. In the beginning,
Which Details really matter?
1. Vision
2. Product Design
3. Strategic Positioning
4. People
5. Distribution & Adoption
6. Customers
7. Defensible Position
8. Exit Strategies
20. Exit Strategy
• Turn yourself into a sharp knife , find a street fight and
throw yourself into the middle
21. Venture Capital Conventional Wisdom
• Focus , Focus , Focus
• The VC’s job is to reduce Risk
• Bet on the jockey not the horse
• You can never raise enough money
• Concentrate on the financial numbers
• Be realistic
• Hire only A players
22. The VC’s job is to Reduce Risk
• VC’s job is to increase opportunities and maximize
value
23. Bet on the jockey not the horse
• You need both
24. Concentrate on the (financial) numbers
• Concentrate on the product and adoption
27. Final Thoughts
• Spend as much time picking your partners as you
would your spouse
• Product rules
• Attack your competitors at their strength
• Never undersetimate your competition
• Push to your failure point
• Never be satisfied
