58 comments

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  Cheryl Hendrick

  7 months ago

  Awesome list - thanks for putting into words what so many of us have been struggling with. I'd like to elaborate a little...
  
  Addendum to #10:
  
  First off, I love that you almost dropped the F-Bomb. That fucking rocks. There, now you can live vicariously through my public vulgarity.
  
  Second, I love this point because so many business jump on NEW programs, NEW products, NEW brands - and in the process, loose the brand equity they've created in the OLD. If you're not pulling in the revenue, the worst thing you can do is get desperate and start shooting blindly in the sky hoping you'll connect with a bird. First, focus on making sure what you have is the best it can possibly be - and if you DO introduce anything new, it needs to be strategic and tie back in with your overarching promise to the client.
  
  I could go on, but I would be dithering when I could be out there making money!
  
  Cheryl
  www.studioabsolute.com
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  Taylor Davidson

  7 months ago

  Swearing gets people's attention :)
  
  It's not all about maximizing existing opportunities. The decision we constantly face is where and how to invest our incremental time, money and passion. Sometimes it's on the new, sometimes it's on the old: and the key is that simply being new isn't good enough on its own.
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  Chris Natsuume

  9 months ago

  #26: Stop progress because you're not sure if you're doing the right thing.
  This one has gotten me more times than I can easily remember. If I had just DONE 1/10th the stuff I stopped because I lost faith in myself halfway through, I would be a millionaire by now. This is not hyperbole - in point of fact, there are 3 concrete examples where I stopped a million+ value project, based entirely on lack of self confidence, only to see someone else do the *exact* same thing and profit wildly from it. My lack of self confidence is my worst enemy.
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  Taylor Davidson

  9 months ago

  Pushing forward through the tough patches can be really, really tough; and the hardest part is knowing who and what to listen to (#14?).
  
  Most of my mistakes are when I don't listen to my gut, don't do what I preach and take too long to decide...
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  Ethan Bauley

  9 months ago

  Woah, killer, thanks for putting the time in on this...
  
  Re: #16
  
  I'd argue that learning how to outsource non-core processes ("what business are you really in?") is one of only two core competencies: something really specific (design, cust svc, etc) and then interfacing with everyone else in your value chain/value network.
  
  All early stage businesses should be simple and have a "robust API", nah mean?
  
  Anyways, that's what the Hagel/Brown tea leaves say...
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  Taylor Davidson

  9 months ago

  #16: Completely agreed that skillfull "unbundling" involves both core competencies you identified; not only is it important to be really good at something, but learning how to interface with the network (to get everything else done) can be a core competence in itself. What you've called out is a pretty nuanced distinction that most haven't understood quite yet.
  
  In fact, I think the ability of the economy to learn how to interface more effectively and efficiently is what will drive the opportunity for the greater distribution of economic value... but you've heard that from me before...
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  Ethan Bauley

  9 months ago

  Somebody wrote on Umair's post today "How many people does the Apache
  Foundation employ"?
  
  The point is that all the benefits are external to the foundation
  itself. That's "meaning"; that's "interfacing with the network".
  
  ;-)
  
  Again, KILLER work man!!!
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  gregorylent

  9 months ago

  nicely done .. valuable for many people, in several industries, i would think.
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  Taylor Davidson

  9 months ago

  thanks... granted, different industries face different problems, but some points of view apply consistently.
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  gregorylent

  9 months ago

  and, hmm, how to say ... it's a book ... if shirkey and godin can make a book out of not much more than this, so can t. davidson ... if you want
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  Taylor Davidson

  9 months ago

  As I've mentioned, I've got the examples, unfortunately, to provide more context, detail and "proof", rather than just "believe me".
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  Anil

  9 months ago

  #2 is important - the difference between many of the successful and not-so-successful is the time it takes to make a decision and go with it. The better formed the decision, even better.
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  Taylor Davidson

  9 months ago

  I wish I listened to my own head and heart and did it myself :)
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  Amar

  9 months ago

  Very well written! The only one I would disagree with is (7). As someone who has to work under a limited budget, I don't have the luxury of spending big $$ on the finished product ... or even a working prototype ... right from the get go.
  
  If you put some examples for each of these, I agree with another poster that this would be a great book.
  
  Despite your advice against using consultants in a startup environment, I would hire you in a heartbeat if you have the bandwidth and ability to travel :-)
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  Taylor Davidson

  9 months ago

  #7 really does depend on the industry. It's probably more important to consider the investment $$ differential between a prototype and a finished product, and consider the difference between where it gets you and what you can learn from each.
  
  Trust me, I have multiple examples of each one... unfortunately :)
  
  Travel? Anywhere, anytime...
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  Bryan Landers

  9 months ago

  Re: #13 - I might give UNDER-promise, over-sell, over-deliver a chance. That's one way to get the over-deliver part right. And if for all the other reasons you listed for things going wrong (lack of $$$, etc) you'll have to face your investors and customers for over-promising things they might not care about if you didn't promise them in the first place!
  
  I've been trying out OtherInbox and they have dummy buttons on the top for features they don't have yet..I hate that! They might change tactics before building those features and for now they just confuse and clutter the space. Just only put what you have NOW! Let me be excited to see a new button added for me to play with...
  
  Re: #22 - how about: if possible do not meet at all! And if you absolutely must, do what you said :)
  
  What about the one where people say, "you can't do that," or, "that's not how it's done," which really means, "we can't do that...that's not how we do it..." and should in no way stop you from making good moves?
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  Taylor Davidson

  9 months ago

  Re: Maybe instead of "under-promise" it's just better not to promise :)
  
  My motive is really just to push people to think big; sometimes bigger goals can be easier to achieve.
  
  Re: "you can't / we don't ": there's a surprising amount that goes into other people's motivations behind their advice for other people. A lot of a person's identity is tied to our relationships with and comparison to other people, thus when other people change it upsets our own vision of ourselves. Advice, direction, demands and laws are instrinsically tied to the viewpoint of the person giving the advice, setting the direction, making the demands.
  
  & Dummy buttons: completely agreed: "feel free to tell me how things will be improved, but don't taunt me with what doesn't work (and degrades what does work) every single time I use you."
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  GarageSpin

  9 months ago

  Excellent stuff, Taylor. Reflecting back on my career, I've been most guilty of 2, 22, and 24; interestingly enough, 24 can cause 22, which can cause 2. Hm, pattern? :)
  
  Yeesh. It's all too simple to focus on swerving around a sea of smaller roadblocks and miss and exit to a 4-lane highway.
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  Taylor Davidson

  9 months ago

  #24 and #22 you can get over; #2 is a killer.
  
  ... I can help you get over #22 and #24 (and #2, for that matter): just ask :)
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  Jesse Farmer

  9 months ago

  Do startups fail because they let data make the decisions? Most startups I know operate in the land of zero (or very little data) and consequently zero visibility.
  
  If anything they fall on the other side of the spectrum, believing their intuition is better than data.
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  Taylor Davidson

  9 months ago

  True... most entrepreneurs do tend to believe in their intuition over data: but isn't that a positive trait (at least for entrepreneurs)?
  
  The issue is in knowing what data to keep and knowing what to throw away; this comes from asking the right questions. In environments with little data we tend to cling to the wrong ones.
  
  The interesting thing is that with big companies, data typically provides the illusion of certainty; the abundance of data stops people from asking broader questions.
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  Ade

  9 months ago

  There is wisdom here, thanks.
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  Steven

  9 months ago

  It's a lot of stuff. It will take me time to sift through it. I need to keep my capital more often.
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  Keith J.

  9 months ago

  It is indeed a virtue to learn how to lose or fail. This way, you define for yourself one way that doesn't work, and that you won't every waster your time on again. But, we need to be humble enough to learn this, so then when we do have success, we know we have learned from our lessons. Great post!
  
  Keith Johnson, Technical Writer
  http://greatdocuments.net
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  Taylor Davidson

  9 months ago

  Tough lessons, agreed. I'd argue that nothing truly worth it in life comes easy...
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  Tamal Anwar

  8 months ago

  These were killer ones, thanks I will sure re-blog this one and apply them in my own small business.
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  Taylor Davidson

  7 months ago

  Serious thanks: what kind of business?
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  griff

  8 months ago

  Everything mentioned here is too obvious.
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  Richard McLaughlin

  8 months ago

  This should be taught in a business 101 class.
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  taylorbarr

  8 months ago

  Very nice insight! I enjoyed reading through and definitely could agree that I have ran into a few of those failures. Thanks for the great read.
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  Taylor Davidson

  8 months ago

  Thanks man... hopefully it will help spare you from experiencing / creating / watching all of them like myself :)
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  Jay Cuthrell

  8 months ago

  #21 is -huge-
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  Taylor Davidson

  8 months ago

  Is it more important for startups or larger companies?
  
  I've seen the downside of it far more in larger companies through the cycle of commitments and slow failures, but perhaps the downside of it in startups is bigger: quick death.
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  Jay Cuthrell

  8 months ago

  Clarification: -huge- in -huge- companies
  
  It is very common to see a flurry of activity where there is no direction or ready application to overall company goals. I think of it like a rowing team (horrible analogy?) graphic where the longer the boat the more likely you are to see rowers pulling either out of sequence or in the wrong direction.
  
  Contrast this in a startup -- it would be devastating. You're in a dingy and the rowing can be the difference between turning circles or making progress towards a rewarding success or rewarding failure.
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  Kevin

  7 months ago

  This is a great article I like specifically how you pointed out how to learn from some of these mishaps and why they are so easy to fall into. Thanks for posting!
  
  Kevin
  http://www.kidsdesk.net
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  Betsy

  7 months ago

  Dithering! The main reason for failure! It drives me nuts when someone has to plan for any ontingeny, no matter how remote. My God! Get up and get moving!
  
  Expect a swarm from Daily Blog Tips. What a swell post. I'm off to look around here further, and have subscribed.
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  Vincent

  7 months ago

  Being determined definitely helps us to guide us through tough time. I definitely agree that there is a big difference between determined and stubborn. One can aid you while the other can cause you to filter out the reality.
  
  Cheers
  Vincent
  Personal Development Blogger
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  Taylor Davidson

  7 months ago

  Agreed: but I'll admit the problem is that we need to use better heuristics to judge whether we're being determined or stubborn. Typically we judge using the results of our decisions, at which point it's too late to change our approach if necessary. The key is to figure out what to listen to, to determine our own guide. I'm still learning my own...
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  tumblemoose

  7 months ago

  This eclectic list is kind of a foundation for how any business should operate. In fact, much of the content here could be vamped into a leadership course.
  Success is not so much about technical knowledge or business acumen, but it's about the right attitude towards life and specifically towards people.
  
  Great job. I'll be back.
  
  Cheers
  
  George
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  Darren Scott Monroe

  7 months ago

  Excellent set! The last is actually a Russian Proverb #25
  #1 - #3 was a great reminder for me.
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  Potato Chef

  7 months ago

  #17 The Smartest Person In The Room...
  
  It never ceases to amaze me how many people will trade the sale, the progress, or even their whole company just to prove to you beyond a shadow of a doubt that they are smarter and wiser than anyone else.
  
  Of course a lot people talk a big game..but few when questioned about fundamentals and specifics can back up their "big game" talk.
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  compassioninpolitics

  7 months ago

  I think the solve your problem vs. solve their problem is an inevitable conundrum for which their is only a situation by situation solution. Great post, however.
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  Taylor Davidson

  7 months ago

  Depends on who is paying for the solution :)
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  Marko Saric

  7 months ago

  Great article... Thanks!
  
  It is a very nice touch that you offer a PDF, PowerPoint presentation etc so your visitors can choose in which format to read your article...
  
  Marko
  http://www.howtomakemyblog.com
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  Taylor Davidson

  7 months ago

  Thanks! Which one do you like best? More people have downloaded the eBook than the PowerPoint so far...
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  uwak

  7 months ago

  thanks...very great evaluation.......to be more better, nice posting
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  Andre

  7 months ago

  I have to admit that some of the points you point out, I'm still guilty of sometimes. These are some awesome advice. I especially like the New New New! I see this in practically all newbies in the internet marketing world.
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  Taylor Davidson

  7 months ago

  I'm still guily of some of the points myself :)
  
  Re: New New New: it's interesting to see the difference between early adopters and laggards in how they test, promote and use various tools (online and offline). It's not just about being new: as the user base and audience change, how and why various tools are used tend to morph. Different needs, goals, viewpoints and frames of references.
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  Amanda

  7 months ago

  #17 is a good one. Accept that you don't know everything and that someone else may have great thoughts and ideas to contribute. If you dismiss or ignore suggestions, you may be missing out on a prime opportunity.
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  Scott Mahler

  6 months ago

  Great information here. I've always heard it's best to learn from those who have suceeded, but I think there is a lot ot learn from those who have failed, assuming you learn what NOT to do. I've done that with my own business, and have found it to be a great way to avoid mistakes. Thanks for spreading the word.
  
  www.datexmedia.wordpress.com
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  Honest Internet Businessman

  4 months ago

  Good list but "secrets" shouldn't be in the title. Everyone learns from failure and that is no secret.
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  daniel

  4 months ago

  Amazing article, had to copy the link and sent it around the company immediatly! Thanks for that! We will definitely mention it on our site...
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  Taylor Davidson

  4 months ago

  Thanks! Any points stand out in particular?
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  Linda Margaret

  3 months ago

  I like it all, but the one about "meeting to decide" could use (as rule no. 25 states) some modifications. I think its important to meet sometimes to disseminate information in person. Rules made at the top and communicated in email or individually to team members can end up being implemented in as many ways as there are individuals in the company. Sometimes, meeting to disseminate information insures that the information is universally understood and uniformly implemented.
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  Taylor Davidson

  3 months ago

  Sometimes :)
  
  Actually, as long as that is the explicit goal of the meeting, and if meeting in person is the best way to disseminate that information (meaning, it requires a personal touch), then I'm all for it.
  
  My main issue with meetings is that typically they are created without real thought and preparation and that the people meeting aren't given the right base (the right "scene") to make the meeting worthwhile...
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  Stephen Bussard

  2 months ago

  Thanks man! As time goes on I feel more and more that entrepreneurship is the way I need to go.
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  Taylor Davidson

  2 months ago

  Glad to hear; drop me a line if I can ever help :)
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  David Noël

  2 months ago

  That's one hell of a fantastic post, Taylor! There are several good posts about failure out there but I love how much work you've put into that one. Truly useful for any aspiring/failed entrepreneur. I'll make sure to have it close-by whenever someone asks me to share input about that specific topic.
  
  Thanks!
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