Haruumi, I love the post. My key question here is: how do you set an expectation that you believe is higher than one that you can truly achieve and then EXCEED that expectation? It seems like goal setting at a level that is slightly outside of the realm of possibility (at least initially) and then attempting to surpass this level might be a recipe for disappointment. My concern is that there may be no clear answer. Seems like founders must aim high and hope that everything aligns in a way that makes success a realistic option.
Regardless, I love your list. Going into a venture without a “blueprint” for success or at least a general idea of where you want to steer the ship does not seem conducive to any form of success – whether monetarily or personally.
Strong post, Arnold! I totally agree with you on your view of transparency.
Regarding ego, I agree that one has to check their ego at the door – but how much is the key question. If you were an investor in a start-up wouldn’t you want a founder/CEO with a little bit of ego/moxie? One that is not afraid to follow his/her instincts and pursue choices that they deem best for the company? I do agree that an ego can be a detriment if not controlled and properly managed. Take a look at some of the best companies in the United States – Apple, Amazon, Burger King JPMorgan, etc. – many of them have CEOs with big personalities and egos but that is what makes them so effective. Desire, fire and passion are typically tightly wound to a person’s ego level – we have to be careful we don’t extinguish the flames that power the engine.