Exponential Wisdom

Episode 72: When to Kill a Company

June 24, 2019 by exponentialwisdom

Peter and Dan examine one of the most challenging decisions faced by serial entrepreneurs: when is the right time to kill a company? Illustrating firsthand stories of past company failures, they discuss the most tell-tale signs of dwindling passion and poor long-term prospects. If only plowing ahead out of obligation to investors, you might have reached the optimal time to kill an idea. Whether burning through cash with no profits in sight, or fast losing enthusiasm for a venture’s mission, these revelatory flags can help you pull the plug early and move on to stronger ventures.

In this episode:

  • Peter delves into the story of building Zero Gravity Corporation, his struggles with the FAA, and creative maneuvers for launch after 11 long years.
  • Dan discusses the respective roles of excitement, disappointment, and fluctuating mental resolve in determining your commitment to an idea, and discerning when to let it go.
  • Peter and Dan agree that a critical step in launching any startup involves testing your idea against the marketplace early. In a similar vein, Dan explains why he only talks to “check-writers” when determining the validity of an idea.
http://media.blubrry.com/exponentialwisdom/p/content.blubrry.com/exponentialwisdom/ExponentialWisdomPodcast_EP_72_WhenToKillACompany.mp3

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Filed Under: Podcast Episodes Tagged With: business, check writer, failure, idea, startup

Episode 48: Launching New Ideas

December 27, 2017 by exponentialwisdom

Peter and Dan discuss what it takes to earn acceptance of new products or ideas. How to make it go viral, how to launch it in a supercredible fashion, and understanding the desired outcome from the beginning are critically important.

 

In this episode:

  • Peter describes his rule of thumb that if something is 10x better, cheaper, faster, or easier, people will switch their behavior and change.
  • Dan gives an example of Acceptance Momentum in history: when Thomas Edison brought the light bulb to market in New York City, and how he used it to light up a public square area to become a huge attraction.
  • Peter describes his idea of supercredibility, and why the first time you hear about an idea impacts your acceptance and confidence.
http://media.blubrry.com/exponentialwisdom/p/content.blubrry.com/exponentialwisdom/ExponentialWisdomPodcast_EP_48_Launching_New_Ideas.mp3

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Filed Under: Podcast Episodes Tagged With: acceptance, Acceptance Momentum, idea, new ideas, supercredibility, supercredible, Thomas Edison

Episode 23: When Should You Kill Your Idea?

June 1, 2016 by exponentialwisdom

23a

Episode 23 CardAs an entrepreneur, the single most important thing you can do in business is continuous experimentation.

You no longer need to guess how your customers will respond — thanks to the technology we have today, it’s never been easier to make data-driven decisions.

In This Episode:

  • Peter and Dan continue their conversation on experimentation, discussing how some of the best companies in the world are measuring experiments and why it’s okay to kill your idea.
  • Dan stresses the importance of testing ideas on “check-writers.”
  • Peter and Dan discuss lessons learned and give real examples of times they fell in love with ideas and ultimately wasted time, money and resources.
http://media.blubrry.com/exponentialwisdom/p/content.blubrry.com/exponentialwisdom/ExponentialWisdomPodcast_EP_23_Experimentation.mp3

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Filed Under: Podcast Episodes Tagged With: experiment, experimentation, idea, testing

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Peter Diamandis
Dr. Peter H. Diamandis is an international pioneer in the fields of innovation, incentive competitions and commercial space.

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Dan Sullivan is the world's foremost expert on entrepreneurship in action.

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