Book: ZERO to ONE; Step-10
Published: 2014 & Pages: 224
11x Step Learning
Step-10
Success & Failure Checklist
Some companies in Silicon Valley from 2005 to 2009; came up with term “cleantech”. “Cleantech,” focused on clean and sustainable products and energy. Many companies got lots of money to start, but many also failed because they didn’t think things through. Now the success and failure of these “cleantechs” has some very important lessons for all of us.
They failed because they made some mistakes:
- They didn’t realize they needed much better technology to beat the big energy companies.
- They thought new technology would come quickly, but it didn’t.
- They faced tough competition in the big energy industry.
- They were led by executives who didn’t know much about making great products.
- Some companies didn’t have good ways to sell their products.
- They couldn’t compete when Chinese companies made similar products for less money.
Based on above observations; to start a successful company, you need to avoid these mistakes. Here are seven questions to help:
- Can you create a new and amazing technology?
- Is it the right time to start your business?
- Will you begin with a big share of a small market?
- Do you have the right team?
- How will you get your product to customers?
- Can you still be successful in 10 or 20 years?
- Do you see an opportunity that others haven’t noticed?
بسم اللہ الرحمان الرحیم،
اردو ترجمہ جلد پوسٹ کیا جاےَ گا، انشاءاللہ
10x Short Questions
1. What kind of companies were involved in the "cleantech" industry from 2005 to 2009?
Clean and sustainable products and energy companies.
2. Why did many cleantech companies fail?
They made several mistakes.
3. What was one mistake they made?
They underestimated the need for better technology.
4. What did some cleantech companies wrongly expect about technology progress?
They thought new technology would come quickly.
5. What challenge did cleantech companies face in the energy industry?
They faced tough competition.
6. Who often led some cleantech companies, and what was a problem with this?
Non-technical executives, and they struggled to make great products.
7. What was a common issue for some cleantech companies regarding selling their products?
They didn’t have good sales strategies.
8. Why did some cleantech companies have trouble competing with Chinese companies?
Chinese companies made similar products for less money.
9. Which question helps you determine if you can still be successful in 10 or 20 years?
The durability question.
10. What is the purpose of these seven questions?
To guide you in making better business decisions and increasing your chances of success.
Check Your Knowledge
10x MCQs
NEXT STEP
PREVIOUS STEP
