I spent time last week speaking with a number of the new DreamIt 2009 companies. In several emails and conversations, I was giving the same advice that applied to very different situations: meeting with a VC, getting press coverage, delivering a new beta release, pitching to angel investors. The advice was around learning as quickly as possible, to help companies accelerate.
If you want to build a great company and accelerate your growth, you need to learn as quickly as possible. 3 easy questions will get you there following every meeting, positive win, negative loss, event, product release, code release, sale, etc.
- What went right?
- What went wrong?
- Where did you get lucky?
Whatever went right, make sure to keep doing that in the future and make sure it's baked into your process.
Whatever went wrong; figure out how to prevent that from happening again and put it on a checklist to make sure it does not happen again.
Wherever you were lucky, figure out how you can make luck happen "on purpose". By the way, it's this last question I find very few people ask. Asking "where were we lucky?" often generates some of the best learning that can really accelerate your company. Again, bake luck into your process so it happens on purpose.
3 simple questions. Tons you can learn. It's fast and easy. Start using them today.