Yevgeniy Brikman has worked “in the trenches” of two successful startups—LinkedIn and TripAdvisor—and based on those experiences has developed his own insights for startup success. Brikman presented these insights in a presentation available on SlideShare. It's over 100 slides long but well worth the time to see it. He sums up the key factors to startup success in six key points, including:
- Make excellent mistakes. Even the most successful startups and entrepreneurs have been plagued by multiple failures before they achieved success. Expect this and plan for it.
- Be speedy. Knowing that you will have to go through many failures before achieving success, the faster you can get to the failures (to correct them), the likelier you are to succeed.
- If you can’t measure it, you can’t fix it. The only way to improve upon early versions of your product is to know what’s wrong with it. It's important to have quantifiable metrics that will help you identify what isn’t working.
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