Friday read: Deals with Microsoft, Shopify and Stripe fail to keep carbon removal startup alive. Article by Heather Clancy: https://buff.ly/4cM377y
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Q: What's the secret to building a great product that grows really fast? Paul Graham explains that the secret to growing really fast is to: "start with a small, intense fire." He uses Apple as an example. They started by selling just 500 Apple I computers. Today Apple is the largest company in the world. It's impossible to make something that a large number of people really want when you're just starting out. So you have to find people who want what you're building A LOT. And that's necessarily going to be a small number at first. But that's ok because that's how almost every giant company gets started. PG continues: "You have to know who those first users are and how you're going to get them. Then you're going to sit down and just have a party with those first few users and focus entirely on them and making them super super happy." Another example he draws upon is a startup in a Y Combinator batch making a new mobile email client. Their beta group had one user: Sam Altman. This startup's goal was to just make Sam happy. Sam uses email a lot on the go, knows all of the other email client options, and is super demanding. So they know that if they build a product that makes Sam happy, odds are it will make lots of other people happy too. "One of the things we tell startups in these extreme cases where they can make just one user happy is to act like a consultant. Act like Sam has hired you to make an email app just for him. All you have to do is make Sam happy--it can say 'Sam Altman' at the top of the screen. That's ok! Just so long as Sam would feel bummed if you stopped working on it. That's the test." Ultimately the secret to building a great product that grows really fast is to build something a small group of people love so much that they'd be really disappointed if you stopped working on it. There's lots of important steps to get right after this, but this is the foundation for growth. It's somewhat counterintuitive, but most of the world's largest companies (e.g. Apple, Facebook, etc.) started by building a product that made a small group of people really happy.
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How to become a $100B company? Figure out how to achieve your 10 year plan in 6 months, and align your strategy with the top platforms of the future.
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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SOSTAC® #Plans Founder, TEDx speaker, #Marketing author, JOIN my 30 min LIVE AI CHAT every Fri 1.00pm UK time - #AI, #Innovation & #Ethics - here on Linkedin
Excellent post by Alvin Foo. Another reason why #SOSTAC® #Plans are essential for growth. Even the 1-page summary plan focuses the mind. Making a 5-year SOSTAC(r) Plan is relatively easy since you can learn SOSTAC® Plans in 3 mins - see video sostac. org
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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How to create a business that can scale faster? How to make your 5 years plan in 6 months? What are the platforms that will be winning in 5 years from now? How to crowd source knowledge and then build an AI knowledge platform and resell the service to the one that teaches you? A few good hint from Eric Schmidt for any digital entrepreneur.
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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Important to consider when you're doing all those important modelling stuff.
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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Datacenter Solutions ★ intelligent PDU ★ International Sales Management ★ Power Monitoring ★ Server Cabinets ★ Emerging Markets
very likely to be the truth of what the next successful companies will be based on.... it is probably happening already.
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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What will your business look like in 5 years?
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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I see a lot of great entrepreneurs and businesses applying for #FiBAN #Investor money. Many of them are like Eric here describes "a reasonable" business. And that is great! ✅It's even great for some investors. 👉Yet regardless of if you're trying to build a 100 billion €£$ company or 5 million €£$ company, the same thought principle would do many a great favor. ✅Make a five year plan and projection. 👉And then rewind and consider how could it be scaled faster and bigger. 👉Because no matter what the business type, building it to scale with your existing thought process is probably more work for less results than by working to find ways to facilitate scaling. 👉And you can always return to this thought. 👉You can do many iterations. ✅Only settle when you can't keep up with the pace of growth.
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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That’s the way to go
Former Google CEO Eric Schmidt explains how he uses 5-year plans to predict if a startup can become a $100B+ company “If you went to business school, you would’ve been taught: build a great product, organize a sales force, charge a fair price, make the customer happy.” But Eric explains that strategy is insufficiently scalable in the Internet era. “It’ll produce a reasonable business, but it’s not going to produce a huge business. It’s just too hard to hire all of those salespeople, work with every customer, and so forth. You have to have a more clever strategy.” He continues: “All of the really big companies have invented a new way to access information or a new way to do something that didn’t require [a large salesforce].” Eric argues that lots of the startup ideas he hears are good, but not good enough. He tells these founders to create a 5-year plan and map their growth rate. Then try to figure out what a more scalable strategy might be. For example, if you’re building an app that you want to charge $10 for, Eric asks: “Why can’t you give the app away for free and then upsell the users?" This is similar to the advice of Peter Thiel who famously asks founders: “How can you achieve your 10 year plan in the next 6 months?” Thinking big and optimizing for scalability is one key factor that separates the ultra successful companies from the rest. Another way to use a five-year plan to determine if your company can be a $100B+ company is to ask yourself what the big platforms will be five years from now and make sure your company is aligned with those platforms. In this interview from 2016 and he predicted that Android, iOS, and machine learning would be the dominant platforms of the next five years. Credits : The Startup Archive
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