1.
Startup
PASSION
Smack-­‐Down
John Bradberry
S X SW
March 10, 2012
ReadyFounder Services, 2012 - All Rights Reserved Image by Joe Carr

2.
#SXPassion

3.
A FALSE
DICHOTOMY
Realism Passion

4.
Strong
YOU
Passion
Weak Strong
Realism

5.
Purpose
Understand
the double-edged
nature of
entrepreneurial
passion.

6.
Purpose
Improve
your
venture’s
likelihood
of success.
Photograph by Alex Guillaume

7.
DETERMINATION
COURAGE
FIRE
FAITH
HOPE
BELIEF
OPTIMISM
COMMITMENT
DRIVE
CONFIDENCE

8.
You Can t Do It Without
PASSION

9.
An Exploration
• 55 hours of interviews
• 51+ books
• 83 research papers
• 500+ online sites, blogs, magazines, etc.
• Filtered through 20+ years of personal
experience and observation

10.
Intuit Survey
4
of
5
working
adults
dream
of
star>ng
their
own
business

11.
Reality
Most ventures close
within 5 years of formation.
7 in 10 close within 10 years.

12.
Reality
6 of 10 people who become self-
employed go back to work for
someone else within 10 years.

13.
Reality
The typical business owner will
make 35% less over a 10-year
period than if he or she had
remained in their previous job

14.
Reality
Business owners report longer
work hours and more stress,
fatigue, insomnia, depression,
and conflict with spouses.

15.
WHY?

16.
A Core Issue
+

17.
Beliefs: “Neurologically Real”
Andrew Newberg

18.
Via ZombieDoom.com

19.
When New Data . . .
are perceived as TRUE

20.
When New Data . . .
are perceived as FALSE

21.
Confirmation Bias
Representativeness
Cognitive Biases
Anchoring
Illusion of
Sunk Cost Fallacy Control

22.
The Passion Trap
Attachment
Attachment to
toan IDEA
an IDEA
Biased Investments
Interpretation & Actions
Feedback
& Results

23.
6
dangers
of
startup
passion

24.
Founder Misalignment

25.
Missing a Market

26.
Rose-Colored Planning

27.
Unforgiving Strategy

28.
Reality Distortion

29.
Evaporating Runway

30.
Solutions

31.
!41/25'%6! #$%&'(!
37! ")!
,-'./(012! #$(*!
33! +)!

32.
Founder Fit
Purpose / Motivation
S k i l l s / E x p e ri e n c e
Personality
Support System
Focus / Performa nce

33.
Rapid-Fire Assessment
!
All systems go. Great shape...
Some concerns, questions
Key gap or risk

34.
Market Orientation
• Shape your venture the outside-in
• Attach to your market, not your idea
• An idea isn’t great until the market says it is
• Create and track “moments of truth”

35.
Products and Needs are Inseparable
Need Product
Need

36.
“Numbers Rule
the Universe”
Pythagorus

37.
Levels of Iteration
Broad
Identity
Business Model
Scope / Impact
Strategy
Systems /
Processes
Products /
Services
Narrow
Features
Short Long
Cycle Time

38.
STAMINA
STAYING POWER

39.
Depressive
Realism

40.
Earned
Optimism

41.
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.
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