Episode 495: The Hockey Stick Principles, with Bobby Martin.
Bobby Martin believes that too many startup founders pivot too early, quit too early, and expect rapid takeoff. Through his experience of starting and selling First Research (a leader in sales intelligence) for $26 Million to Fortune 500 firm, Dun & Bradstreet, he’s learned first-hand the challenges and solutions at each stage of entrepreneurial growth. Bobby is the author of “The Hockey Stick Principles: The Four Key Stages to Entrepreneurial Success,” which was named an 800CEORead Bestseller. Bobby’s current adventure is as chairman and co-founder of Vertical IQ, a leading provider of sales research insight for banks. Bobby is an angel investor and serves as an active board member with several innovative start-ups, including Local Eye Site, Boardroom Insiders, MyLifeSite, Sageworks, and etailinsights.
What you’ll learn about in this episode
- The 80/20 rule for staying focused on your most vital priorities
- How most successful startups have revenue growth curves that are shaped liked a hockey stick
- Planning for at least 3 years of hardship and tweaks for your business to take off
- Selling: why it is the most important and overlooked skill a startup needs to succeed
- Why it’s vital to know your KPI’s (key performance indicators) really well
- Keeping things simple by choosing to say “no”
- Why you cannot predict what your actual cost is going to be when starting a business
- The systems Bobby would go back and put in place sooner if given the opportunity
- The two things that successful founders do to become successful
- Why most businesses should try to get to “ramen profitability” as quickly as possible
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How to best connect with Bobby:
- Website: www.bobbymartin.me