Madrid

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On November 24, 2015, NancyMadrid commented on Lessons for every entrepreneur facing tough times :

Thank you for your post. While it is important to keep a successful exit strategy in mind, when facing tough times it might also be helpful to ask yourself at which point are you willing to quit. At which point would you consider your startup a failure. A real answer to this question can help entrepreneurs leave enough resources (monetary and emotional) to fail gracefully.

On November 24, 2015, NancyMadrid commented on When you are your worst enemy :

Honesty is the best policy. From class I have learned that stakeholders, even investors, are sympathetic and sometimes will even back you up again after a failure. The secret is to be transparent and honest to avoid burning bridges.

Thanks for your post!

On November 23, 2015, NancyMadrid commented on I Spy a Failure: An Entrepenuer’s Tale :

I am not surprised to see lean experimentation as a success factor. I wrote my blog post on how the lack of lean experimentation leads to failure. Check it out here: http://fd2015.hbs.org/submission/5-signs-your-startup-is-doomed/

While I had not thought specifically of early organic customer traction as a success factor, i think it makes sense. Early organic customer traction is the best and fastest way to prove demand for your product. The large addressable market indicates the potential growth of the venture, which can be realized if the execution is sound and the unit economics work.

Thank you for posting Williams’ perspective! It is a good way to assess companies at a high level.

On November 23, 2015, NancyMadrid commented on Failure is SO hot right now :

I agree, failure is so hot! The Lean Startup methodology is right in suggesting product feedback/development iterations to avoid wasting a lot of resources on producing a flawed product. However, failing fast, cheap, and often is the way to go!

On October 29, 2015, NancyMadrid commented on How to fire someone while preserving dignity :

I’d like to emphasize principle 1: Don’t surprise the employee.
I was surprise-fired during a class simulation. Even though the exercise was a simulation, my stress response was triggered. I was upset and irritated at the unexpected turn of events. When the ’employer’ then asked for my help in handing off the position to a new person, my response was a definite NO.

Firing someone in real life would trigger a much intense response, so thank you for your post. I hope it helps a leader fire while preserving dignity.

On October 29, 2015, NancyMadrid commented on People As Plants: How To Cultivate Your Startup Garden :

Love this post! It is important to support the growth and development of employees, like plants.
I agree that the soil is the culture/organizational structure. Employees will not flourish or remain in a company with a toxic company culture. The company culture also needs to fit the needs of employees, just like different types of plants need different types of soil.
I asked the following question in another post:
Should we change the team to fit the culture or change the culture with input from the team?
Your analogy proposes that both approaches would work.

On October 29, 2015, NancyMadrid commented on BREAKING ALL THE RULES #rawiseverything :

RAW IS EVERYTHING is definitely disrupting an industry!
It would be interesting to learn more about the dynamics of having 4 co-founders and about the culture of the company. I know a bit about this first-hand because I am friends with the founders 😉 but I think the class would benefit from learning how the company is also disrupting pre-conceived notions of entrepreneurship!!

On October 29, 2015, NancyMadrid commented on Treat your startup culture like your product :

Agreed with everything in your post. Additionally, company culture can create competitive differentiation for your company, just like a product. The great news is that company culture is not easily emulated.
The next, and more difficult question is: how do we get the organization to accept and embody the desired culture?
Should we change the team to fit the culture or change the culture with input from the team?