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The Start-Up J Curve: The Six Steps to Entrepreneurial Success
Amazon Bestseller in Strategic Management, Startups, Lean Quality Control & Management, and Venture Capital A predictable pattern of success Entrepreneurs who have read early drafts of The Start-Up J Curve responded, “I wish I had this book years ago.” A startup unfolds in a predictable pattern; the more aware entrepreneurs are of this pattern, the better able they will be to capitalize on it. Author Howard Love calls this pattern the start-up J The toughest part of the endeavor is the time between the actual start of a new business and when the product and model are firmly established. The Start-Up J Curve gives entrepreneurs the tools they need to get through the early challenges so they can reach the primary value creation that lies beyond. Love brings thirty-five years of start-up experience to this comprehensive guide to starting a business. He outlines the six predictable stages of start-up growth and details the activities that should be undertaken at each stage to ensure success and to avoid common pitfalls. Instead of feeling lost and confused after a setback, start-up founders and investors can anticipate the challenges, overcome the obstacles, and ride the curve to the top.
296 pages, Kindle Edition
Published August 30, 2016
369 people are currently reading
1322 people want to read
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Displaying 1 - 30 of 39 reviews
October 20, 2019
I like models. Even if they are just models. For me, time will tell if this book represents a real model or a hypothetical one. Nevertheless, it’s an appealing model that seems to make a lot of sense for a startup. A bit too simplified maybe, but defines most of the startup phases I’ve encountered, seen or heard so far. A note has to be taken that the model presented, J-curve, although linear, might in my view include variations in real life and definitely does not have to be as continuous as presented. Some steps might be longer, some repeated, some skipped. It’s a model, after all, intriguingly fascination that is.
June 4, 2019
That’s a very solid book about the different stages of a startup life and the things that matter during those stages. Lots of tidbits of advice shared by the author who has hands on experience building several companies. Although at the end of the book the examples started to get old.
December 25, 2021
When you present some ideas, the startup community and investors will do a search anyway, if this is already done before and what similar things exist. So it’s better that You do the research first.
Statistics: 80% startups dramatically change their main idea before success. Be ready to pivot.
Having less resources in the beginning is an advantage (bootstrapping)! Being naive is also! “Screw it, let’s do it!”
Never scale before nailing down the right business model, for you will lose your gunpowder. Scaling a business model that's wrong will end up with a big business built wrong.
Steps from startup to business:
1. Create.
2. Release. Don't procrastinate releasing your product into the world. Listen from the market.
3. Morph. Move beyond the original ideal. Listen to customers. Morph as fast as you can.
4. Model. Nailing the business model.
5. Scale. People, money, processes. There are always major changes needed (the staff has to change). Skip all low buyout offers.
6. Harvest phase is important! Heads you win, tails you win every more :)
With those steps, never go from 2 to 5, this is putting the cart before the horse. Don't scale too early, no matter how much money you have!
Pace yourself phase by phase, this is good for health too. When you go with a pace to fast, you will burn out and sell too early.
If you get people using your product, history shows somehow you will be able to monetize on it. Don’t forget: Google existed for 2 years before ad-words started.
The idea is not the important factor, but execution. And the idea will probably change too, so it's more like a “hypotheses” not an idea.
When You present to investors, slide ideas:
* K. I. S. S.
* Don't have more than 3-4 slides per page
* Don't put small text
* Don't put fancy graphics
* 15-20 slides maximum
* Take some information out on purpose to chat about it.
* Don’t read off the slides.
How a presentation should be built? (Download template at http://www.howardlove.com/perfect-pit... )
1 Company purpose - one sentence, strong sentence
2 The Problem
3 The Solution
4 Why now
5 Market size
6 Competition. Competitive edge. Positioning axis.
7 Product. Key features. Road map. Client feedback
8 Customer Acquiring
9 Business model
10 The team
11 Team motivation
12 Current situation
13 Financials. Burn rate.
14 The deal
15 Use of funds
16 Demonstration of the product prototype. Even angels need an MVP.
Co-founder is a great benefit, shared history, divided work.
Don’t be greedy: think about what your share will be worth in future, not how great percentage you won.
When You include money from Friends and Family, then you are making a greater effort for them not to lose it.
Angels are good at: People, Processes and Money.
Start feedback loops as early as You can for changing the product.
MVP is MVP - MINIMAL. Cut the features. Make a product that small numbers LOVE, not what big numbers LIKE. MVP could even be a signup page with screens.
First customers are not for revenue, but for feedback loop. Any face time will be valuable. Facilitate feedback. Don't only engage, but OVER-engage. They don't mind to be listened to. Bend over backwards to get customer data. Collect and analyze. Simplification! Remove friction.
MORPH = short for metamorphosis. "You can't FIX your way into a great product", you need to take bolder changes and drop something. Morph fast. How many balls you get into the basked depends on how many You are throwing. Don’t take too much time to aim.
BUSINESS MODEL. The costs of producing and finding costumer must be less than income. It does not need to produce profit straight away, but in the long run. High margins!
SCALE. Find experts. Throw away the cowboys. You TOO should let go of actions that you are not a seasoned expert. If you scale with a faulty business model, you know have a huge faulty business model.
Hire people that have been there and done that. They are expensive. OVER-hire, not UNDER-hire when scaling. “Scale” phase is a lot better for VC than “Create” phase. Morphing was for feedback, but now you got to push the maximum speeds.
When You start getting noticed by big competitors, they will flatter you. Pay no attention - they just want to buy you off cheaply and then switch you off. First they will tell You are a genius, then they will threaten to build a better solution if You won’t give in. IMPORTANT: Your employees should never even get a hint that you are planning to sell out. Zuckerberg and 1 billion from yahoo - “just a formality, of course we won’t sell”. All offers have to be rejected quickly and publicly.
With corporation growth you already need to have processes in place. In start there are generalist who know all, but now Specialists take over and you need direct processes to coordinate.
Constantly be throwing 20% over the board and try something new.
HARVEST. You already have in place effective sales channels. Keep your pricing strategy in the middle - not too expensive for competitors to take over, yet not too few to be losing money. IF you think about going public, then the numbers are exaggerated anyway.
If you have several products, aim for a spin-off, for they get the focus and a specialized leader. They will get more resources as “product #3” in your bigger company. Most spin-offs are successful.
It’s not about making good decision, but avoiding the bad ones: 99% companies die of suicide, not murder.
Raising money is so huge a commitment, that there has to be somebody other doing it, or while doing it you should delegate all your other jobs. Total focus on that! And always have many investors/options, always abundance not scarcity! If you have a fear of missing out, then there are too few!
The first investors get 10-20% better price later.
The words that venture capitalist love is: “We have an amazing product and a huge market and a massive client adoption. Plus we just turned on the revenue model and it is working. We are looking for some money to make this a much bigger business” :)
If you feel friction with an employee, stop there and send them away before there will be some bad feelings later. The more money you receive in the beginning, the more sloppier you get (develop too many things at once etc). Take less money, have higher discipline!
Role of startup founders: Raise Money, Get Customers, attract talents, generate media attention, convince the team to listen and believe.
Missionaries VS Mercenaries. You need people driven by Your mission, not a hired gun.
Innovation will always remain the field of small flexible companies. The big ones do not allow enough chaos to make big important changes.
Statistics: 80% startups dramatically change their main idea before success. Be ready to pivot.
Having less resources in the beginning is an advantage (bootstrapping)! Being naive is also! “Screw it, let’s do it!”
Never scale before nailing down the right business model, for you will lose your gunpowder. Scaling a business model that's wrong will end up with a big business built wrong.
Steps from startup to business:
1. Create.
2. Release. Don't procrastinate releasing your product into the world. Listen from the market.
3. Morph. Move beyond the original ideal. Listen to customers. Morph as fast as you can.
4. Model. Nailing the business model.
5. Scale. People, money, processes. There are always major changes needed (the staff has to change). Skip all low buyout offers.
6. Harvest phase is important! Heads you win, tails you win every more :)
With those steps, never go from 2 to 5, this is putting the cart before the horse. Don't scale too early, no matter how much money you have!
Pace yourself phase by phase, this is good for health too. When you go with a pace to fast, you will burn out and sell too early.
If you get people using your product, history shows somehow you will be able to monetize on it. Don’t forget: Google existed for 2 years before ad-words started.
The idea is not the important factor, but execution. And the idea will probably change too, so it's more like a “hypotheses” not an idea.
When You present to investors, slide ideas:
* K. I. S. S.
* Don't have more than 3-4 slides per page
* Don't put small text
* Don't put fancy graphics
* 15-20 slides maximum
* Take some information out on purpose to chat about it.
* Don’t read off the slides.
How a presentation should be built? (Download template at http://www.howardlove.com/perfect-pit... )
1 Company purpose - one sentence, strong sentence
2 The Problem
3 The Solution
4 Why now
5 Market size
6 Competition. Competitive edge. Positioning axis.
7 Product. Key features. Road map. Client feedback
8 Customer Acquiring
9 Business model
10 The team
11 Team motivation
12 Current situation
13 Financials. Burn rate.
14 The deal
15 Use of funds
16 Demonstration of the product prototype. Even angels need an MVP.
Co-founder is a great benefit, shared history, divided work.
Don’t be greedy: think about what your share will be worth in future, not how great percentage you won.
When You include money from Friends and Family, then you are making a greater effort for them not to lose it.
Angels are good at: People, Processes and Money.
Start feedback loops as early as You can for changing the product.
MVP is MVP - MINIMAL. Cut the features. Make a product that small numbers LOVE, not what big numbers LIKE. MVP could even be a signup page with screens.
First customers are not for revenue, but for feedback loop. Any face time will be valuable. Facilitate feedback. Don't only engage, but OVER-engage. They don't mind to be listened to. Bend over backwards to get customer data. Collect and analyze. Simplification! Remove friction.
MORPH = short for metamorphosis. "You can't FIX your way into a great product", you need to take bolder changes and drop something. Morph fast. How many balls you get into the basked depends on how many You are throwing. Don’t take too much time to aim.
BUSINESS MODEL. The costs of producing and finding costumer must be less than income. It does not need to produce profit straight away, but in the long run. High margins!
SCALE. Find experts. Throw away the cowboys. You TOO should let go of actions that you are not a seasoned expert. If you scale with a faulty business model, you know have a huge faulty business model.
Hire people that have been there and done that. They are expensive. OVER-hire, not UNDER-hire when scaling. “Scale” phase is a lot better for VC than “Create” phase. Morphing was for feedback, but now you got to push the maximum speeds.
When You start getting noticed by big competitors, they will flatter you. Pay no attention - they just want to buy you off cheaply and then switch you off. First they will tell You are a genius, then they will threaten to build a better solution if You won’t give in. IMPORTANT: Your employees should never even get a hint that you are planning to sell out. Zuckerberg and 1 billion from yahoo - “just a formality, of course we won’t sell”. All offers have to be rejected quickly and publicly.
With corporation growth you already need to have processes in place. In start there are generalist who know all, but now Specialists take over and you need direct processes to coordinate.
Constantly be throwing 20% over the board and try something new.
HARVEST. You already have in place effective sales channels. Keep your pricing strategy in the middle - not too expensive for competitors to take over, yet not too few to be losing money. IF you think about going public, then the numbers are exaggerated anyway.
If you have several products, aim for a spin-off, for they get the focus and a specialized leader. They will get more resources as “product #3” in your bigger company. Most spin-offs are successful.
It’s not about making good decision, but avoiding the bad ones: 99% companies die of suicide, not murder.
Raising money is so huge a commitment, that there has to be somebody other doing it, or while doing it you should delegate all your other jobs. Total focus on that! And always have many investors/options, always abundance not scarcity! If you have a fear of missing out, then there are too few!
The first investors get 10-20% better price later.
The words that venture capitalist love is: “We have an amazing product and a huge market and a massive client adoption. Plus we just turned on the revenue model and it is working. We are looking for some money to make this a much bigger business” :)
If you feel friction with an employee, stop there and send them away before there will be some bad feelings later. The more money you receive in the beginning, the more sloppier you get (develop too many things at once etc). Take less money, have higher discipline!
Role of startup founders: Raise Money, Get Customers, attract talents, generate media attention, convince the team to listen and believe.
Missionaries VS Mercenaries. You need people driven by Your mission, not a hired gun.
Innovation will always remain the field of small flexible companies. The big ones do not allow enough chaos to make big important changes.
November 22, 2020
Tries to cover all stages of building/running a startup, and doesn't cover any of them properly. In the same genre, The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup was more thorough and went deeper across all stages (but wasn't really a page-turner).
A good read for people who are relatively new to startup topics, perhaps.
A good read for people who are relatively new to startup topics, perhaps.
October 7, 2019
So I thought this was a good listen. On the other hand, I have a pretty strong background in business and I found that it did not necessarily bring a lot of new information to me. I would still recommend to anyone without a strong business background though as this does define a process or stages a business goes through rather succinctly and understandably.
February 7, 2019
Gerai sudėliotas ir lengvai susikaitė. Daug naudingos informacijos, kurią galėtum panaudoti ne tik startuolių gyvenime, bet ir ten kur šiandien esi :)
November 18, 2018
Great points for anyone who is considering or has already started their own business. The author has been involved in many start-ups as a founder and investor. His experience seems to be primarily in the tech industry and most of his companies have morphed, so the book is geared towards tech and there is a strong emphasis on the importance of allowing ideas to evolved. Even though I haven’t been involved in tech and my ideas didn’t morph much (I’ve founded businesses in construction, non-profit, manufacturing, and the restaurant industry) I still gained some good insights. Due to my entrepreneurial experience I was a little bored during some early parts of the book.
April 5, 2023
This book is prominent for put forwarding six significant phases of a startup as below:
1. Create
2. Release
3. Morph
4. Model
5. Scale; and
6. Harvest
I read this book very intently, and every line is critical. Everyone who dreams of starting a startup must read this book and benefit from it.
1. Create
2. Release
3. Morph
4. Model
5. Scale; and
6. Harvest
I read this book very intently, and every line is critical. Everyone who dreams of starting a startup must read this book and benefit from it.
January 1, 2022
Truth
The myriad of questions the author asks in each chapter are reminiscent of those I’ve been asked by PE and other investors in the multiple enterprises I’ve been part of or run. The book, while not the easiest read, is a very useful one for anyone thinking about starting up ANY business (not just tech) or looking to raise money. Love touches on both the soft and hard skills necessary. He also has been there and done that - which is critical. A decent adder to your business library.
The myriad of questions the author asks in each chapter are reminiscent of those I’ve been asked by PE and other investors in the multiple enterprises I’ve been part of or run. The book, while not the easiest read, is a very useful one for anyone thinking about starting up ANY business (not just tech) or looking to raise money. Love touches on both the soft and hard skills necessary. He also has been there and done that - which is critical. A decent adder to your business library.
February 1, 2018
The author has really put a significant amount of thought into each step of building a business. It truly doesn't matter if you're a tech start up or a meal service, the steps you building a business remain the same.
The author has really put a significant amount of thought into each step of building a business. It truly doesn't matter if you're a tech start up or a meal service, the steps you must take, the iterations you must endure are the same.
The author has really put a significant amount of thought into each step of building a business. It truly doesn't matter if you're a tech start up or a meal service, the steps you must take, the iterations you must endure are the same.
February 25, 2018
The book presents a really good roadmap for entrepreneurs. It goes through the common stages and what to expect. The book also presents common pitfalls and best actions at each stage.
A good descriptive analysis of the entrepreneurial journey that helps shows the reader how things progress. I truly enjoyed reading this one and identified a number of ah-ha moments, as well as being enlightened by how the stages model makes complete sense. Recommended for any aspiring or existing entrepreneur.
A good descriptive analysis of the entrepreneurial journey that helps shows the reader how things progress. I truly enjoyed reading this one and identified a number of ah-ha moments, as well as being enlightened by how the stages model makes complete sense. Recommended for any aspiring or existing entrepreneur.
January 21, 2019
Blueprint for Entrepreneurial Journey
To be honest this book has surpassed all my expectations. It is not as widely known as some other works on startup world, but in my opinion it should be considered in one class with such great books as 'The Lean Startup' or 'Zero to One' . Really recommend for everyone who is already having entrepreneurial journey and also for those who are just dreaming about getting on the road. Good luck.
To be honest this book has surpassed all my expectations. It is not as widely known as some other works on startup world, but in my opinion it should be considered in one class with such great books as 'The Lean Startup' or 'Zero to One' . Really recommend for everyone who is already having entrepreneurial journey and also for those who are just dreaming about getting on the road. Good luck.
December 11, 2020
I really enjoyed this book! Recommended to me by a a friend who wanted me to understand the ups and downs of building a company and this book was eye-opening. It provides a realistic roadmap for what your journey will look like as an entrepreneur and what skills are necessary at each stage.
For anyone out there who has a side hustle or main hustle I recommend - it helped me understand that just because I launch Thing A doesn’t mean it won’t turn out as Thing D after making changes.
For anyone out there who has a side hustle or main hustle I recommend - it helped me understand that just because I launch Thing A doesn’t mean it won’t turn out as Thing D after making changes.
December 6, 2017
A good book covering the whole startup journey from the idea to the harvest part and slowly turning into the corporation. Lots of good advices and things to expect along the road. Could be a good guide to have in your pocket if jumping on the startup train or already on it as it also covers the later stages quite thoroughly.
August 5, 2018
Great read for seasonal and newbie entrepreneurs. I will go back and re-read again. Greatest outcome is the roadmap and big picture of phases an entrepreneur goes through, and entrepreneurship is not a profession but a mindset that is applicable in small business and corporate America, even daily lives.
January 16, 2018
I was surprised that I enjoyed this quite as much as I did. It provides tools, case studies, and principles in a clear way that is simple to understand. Worth a read for those interested in start ups and entrepreneurial endeavours.
January 29, 2019
I wasn't expected that I would enjoy reading this book. but I did
the book covers the startup journey from the idea to harvest stage by explaining real samples from real other startup and what you expect in each stage.
the book covers the startup journey from the idea to harvest stage by explaining real samples from real other startup and what you expect in each stage.
October 10, 2020
Solid book that delivers on what it says it will. Comprehensive, accurate info told from the perspective of someone who did it. Good read for a first-time entrepreneur (or anyone else seeking to properly frame their own experience).
January 29, 2021
Great read before starting a company
I wish I reed this bok before starting at company, well though with a lot of teachings how to and what you will have to expect when you start a company. Recommend this book highly for new starters
I wish I reed this bok before starting at company, well though with a lot of teachings how to and what you will have to expect when you start a company. Recommend this book highly for new starters
July 22, 2021
Great book if you're an entrepreneur and are actively (or in very short order) starting a new venture. This book is more of a "how-to" guide than a book about entrepreneurial philosophy and larger, macro-entrepreneurial subjects.
November 27, 2017
Great read on the stages of development in startups with lots of examples to back it up from a veteran in the startup trenches.
February 1, 2018
The best book on Startup I ever read.
March 25, 2018
A must read.
For aspiring entrepreneurs everywhere. I found a good deal of value in this book. The proposed model is great and helps your confidence when times are tough.
For aspiring entrepreneurs everywhere. I found a good deal of value in this book. The proposed model is great and helps your confidence when times are tough.
April 10, 2018
It explains the path that most startups would pass. The main takeaway from the book is to be humble, embrace failure and don`t skip the steps on the curve but be ultra-focused on the current step.
July 8, 2018
End to End
this book is an excellent end to end guide for every entrepreneur out there or any person who wants to be an entrepreneur.
this book is an excellent end to end guide for every entrepreneur out there or any person who wants to be an entrepreneur.
April 13, 2019
I'm just starting my startup and this book has been a real blessing to keep on track on what I'm doing and how to do it.
September 10, 2019
I would recommend using this book as a high level framework.
February 15, 2020
Una lectura obligatoria para todos los emprendedores, desde los que apenas empiezan en este viaje hasta los más experimentados.
April 11, 2020
Must read for first time tect startup founders 👍
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October 25, 2020Not special but v practical
Displaying 1 - 30 of 39 reviews