You're launching a startup venture. How crucial is decision-making for achieving success?

“Do something, even if it’s wrong.” As a startup founder, you need to make lots of decision on unprecedented topics. Think “will people really use an app to jump into a stranger’s car instead of a cab or stay in a stranger’s house instead of a hotel? Every decision results in triumph or tuition. You cannot learn to swim without getting wet. In reality, decisions that pose a risk of irreversible damage are few and far between. In startup-land, perfection is the enemy of progress. When you have more experiences, you can - and should - make decisions based more on data than intuition. However, in the data desert of a truly unique offering, more harm comes from indecision than poor decisions.

While always important, iteration speed changes from fast in early days- for product market fit and target user - to more slowly where patience is required for strategies to yield results. In start-up, leaders rarely have perfect information, but whether you are in autocratic, pre-revenue panic or the more measured situational leadership mode of scale-up, determining sufficient feedback to re-direct is the art and thrill of this high-wire act.

All those decisions are truly critical, but even before them one must make another fundamental decision: to create (hire) the core team, I.e. select the right people as your trusted and complementary partners in the startup adventure!

* Early choices like who your customers are and what problem you solve are like the building blocks of your business. * You need to understand what people need and how your startup fills that gap. * These first decisions affect everything you do next.

“Do something, even if it’s wrong.” As a startup founder, you need to make lots of decision on unprecedented topics. Think “will people really use an app to jump into a stranger’s car instead of a cab or stay in a stranger’s house instead of a hotel? Every decision results in triumph or tuition. You cannot learn to swim without getting wet. In reality, decisions that pose a risk of irreversible damage are few and far between. In startup-land, perfection is the enemy of progress. When you have more experiences, you can - and should - make decisions based more on data than intuition. However, in the data desert of a truly unique offering, more harm comes from indecision than poor decisions.

* Decisions are key for startup success. Every choice involves risk vs. reward. * Good risk management means: * Spotting problems early. * Figuring out how likely and bad they could be. * Making plans to avoid them. * Smart choices protect your startup and help it grow.

*Fast decisions matter in startups. The world changes quickly, so you need to keep up. * Good decisions = good adaptation. By making smart choices, you can adjust your plans when things change. * Great decisions = new opportunities. Spotting good chances and acting on them can make your startup soar.

Remember that in a start-up, listenting to the market and changing is critical to gaining acceptance and share. It's easy to fall in love with your own idea and double down on it even if the market isn't responding to show your grit and determination. Grit and determination are great qualities, but they need to follow the flexibility of pivoting and changing to where the market wants you to go. Be a speed learner, and follow the market.

Imagina que eres un surfista en una ola gigante... la clave no está en mantener el equilibrio, sino en saber cuándo y cómo maniobrar para aprovechar al máximo cada ola. Una forma innovadora de mantenerte ágil es fomentando una cultura de aprendizaje continuo. Las startups que invierten en el desarrollo personal y profesional de sus miembros suelen estar mejor preparadas para enfrentar los desafíos y aprovechar nuevas oportunidades.

* Crucial decisions = startup success: Good choices = win! * Team = your backbone: Pick the right people, it matters a lot! * Skills and passion: Need talented folks who believe in your dream! * Team, culture, leadership: These choices affect how you work together and how many great ideas you come up with!

The team is important, but they need to commit to doing whatever it is to be successful in your quest for attracting and retaining customers. Start-ups aren't 9-5 jobs, nor are they guaranteed paychecks without risk. They are the opposite. You want folks who understand the risks and can live with those risks so you don't have early turn-over due to their in ability to deliver in a start-up environment.

• Financial choices = like building blocks for your business. • Finding money, using it wisely, pricing things right - all crucial. • Smart money decisions help you grow, weather tough times, and make a profit.

A client I had proposed a business model that would ultimately limit the number of customers that could be serviced while maintaining the current level of quality. He asked if we could adjust the pricing strategy to support a higher budget. We ended up pursuing partnerships instead. While limiting the customer base, lowering quality and increasing prices are easy solutions, none were sustainable for growth. Creating barriers to growth early in startup development would've stunted momentum; lowering quality has the same effect due to loss of trust; and small, inexperienced startups find it hard to justify high prices, whereas high volume low price would encourage momentum through customer recommendations and generate higher total revenue.

En el competitivo mundo de las startups, es esencial ser flexible y adaptable. Innovar constantemente y ajustar tu propuesta de valor según el feedback del mercado puede marcar la diferencia entre el éxito y el fracaso. Orientarte al cliente no significa que desarrolles tu negocio pensando en el cliente, sino que dejes que ellos co creen tu negocio. Siempre debes estar con un oído alerta en lo que tu cliente te dice y otro en lo que tu equipo te dice.... tu tomas la decisión. Toda tu estrategia debe construirse desde el punto de vista del cliente, no de la tuya.

Finally, plan on what you will do when you run out of money. Most start-ups end somewhere different from where they began. Education is costly and mistakes can burn through resources. Give thought to funding at the level you need to start, as well as, model how you can raise other rounds at more attractive valuations once your start-up is generating some revenues and starting to get market acceptance.