GigaOm have recently revealed 5 common myths that could kill a startup, and suggested the true statements instead. I believe, some points must be useful for those interested.

1. Hire smart people (false) vs Hire stars (true).

This is not to undermine the intelligence that is vital for execution itself.  There’s another factor, which is very common for the best leaders: emotional and social intelligence, sometimes referred to collectively as EQ.

2. It’s about your great idea (false) vs It’s about your customer (true).

In other words, it’s about the great timing and location of your great idea. I personally dealt with ideas that we were trying to execute too early, and failed to generate the demand enough to reach a tipping point, and with ideas that we were too slow to implement, thus giving way to smarter and faster companies.

3. Conflict is bad (false) vs Affective conflict is bad (true).

Just differentiate between two types of conflicts: a cognitive conflict is something that helps answer the questions of “what” and “why” as seen from various points of view; affective conflict, however, is a waste of time and nerves on debating about how to do and who takes control.

4. Hard work, no fun (false) vs Good results, lots of fun (true).

Hard working employee does not equal Effective employee. The hardworking ones work hard. They work and work and work, untill finally they are sick of it. And that’s the end. Effective employees have fun doing what they do, and they know where and when to stop.

5. It’s an Uphill Battle Until One Day, When It All Comes Together (false) vs It’s a Rollercoaster Ride (true).

One big customer, or even the much-aspired tipping point is never the end of your sufferings. A business path is a bumpy road all the way long, and should you relax for a moment, especially if you are a startup, the competitors, regulatory bodies and many others are there ready to feast on your blunders.

Share on Facebook