Like this article? PLEASE +1 it! Evan Signature
Evan Carmichael Top Header
Share for a Cause









Strategy vs. Fundamentals

Written by: Brad Feld

Article Overview: Creating companies is hard. Most fail. Overnight success is rare (my favorite “overnight success stories” are the ones that take 10+ years, like iRobot or Harmonix.) While strategy plays a key part in the outcome of an entrepreneurial venture, the fundamentals matter a lot. Take the following parable that I got from a friend recently.

Free Download - Deep Breath By Brad Feld
Name: Email:

Strategy vs. Fundamentals

Creating companies is hard. Most fail. Overnight success is rare (my favorite “overnight success stories” are the ones that take 10+ years, like iRobot or Harmonix.) While strategy plays a key part in the outcome of an entrepreneurial venture, the fundamentals matter a lot. Take the following parable that I got from a friend recently.

I was thinking about you as I drove home from my tennis match the other night. My doubles partner was clearly excited to implement what she had learned in previous doubles strategy lessons. Minutes before we stepped onto the court, she developing signals she was going to use for poaching, staying put at the net, etc. Since I had never played against our opponents before, I wasn't initially concerned about strategy. I figured assess their strengths and weaknesses during the warm up, then play to them accordingly.

We ended up losing 6-4, 6-4 to a team that wasn't as strong as us. One of the reasons I think we lost is because there was too much focus on strategy and not enough on fundamentals. Our opponents capitalized on some very basic mistakes and ended up taking the last four games from us to win the match.

Clearly there are worse ways to spend a Monday evening than losing a tennis match. But, as a funder/board member/sounding board/cheerleader, have you ever counseled a start-up team where there is an imbalance between strategy development vs. executing on fundamentals? How do you steer them back on course, especially after they've experienced defeat?

I’ve been in way too many meetings where the talk is endlessly about “strategy.” Whenever you are in an endless cycle of a “we need a strategy” or “our strategy needs to be X” type discussions, step back and think about whether or not you have a team that is capable of actually building a business.

Great strategy is useless if you don’t know how to serve, volley, and hit the ball.

Read this article in Brad's blog.

Related Articles
  Fundamentals and Change Equal Success
  It is your choice.
  Increasing Sales and Productivity: Action and Fundamentals
  Parents Can Accelerate their Children's Ability to Learn
  Which Did You Do - Lose Your Temper or Self-Confidence

Home > Entrepreneur-Advice > Brad Feld > Strategy vs Fundamentals
Article Tags: board member, cheerleader, endless cycle, entrepreneurial venture, four games, harmonix, irobot, many meetings, opponents, overnight success, parable, signals, sounding board, strategy development, strategy lessons, strengths and weaknesses, success stories, type discussions, volley, x type

About the Author: Brad Feld
RSS for Brad's articles - Visit Brad's website

Brad Feld is currently a Managing Director at Mobius Venture Capital and has been with the firm since 1996. Prior to Mobius, Brad founded Feld Technologies, which was sold to AmeriData Technologies in 1993, where he became Chief Technology Officer. Brad currently serves on the boards of a number of private companies, including Atreus, Comergent, ePartners, FeedBurner, Gold Systems, Judy's Book, Klocwork, NewsGator, Quova, Rally Software, and StillSecure. In addition, he is on the board of The National Center for Women & Information Technology, The Community Foundation Serving Boulder County, and The Colorado Conservation Trust. Brad has previously been a member of the board of directors of the Young Entrepreneurs Organization and founded the Boston and Colorado chapters. He holds Bachelor of Science and Master of Science degrees in Management Science from the Massachusetts Institute of Technology.

Click here to visit Brad's website
Dashed Line

Feld Thoughts
More from Brad Feld
The Wrong Things
Unintended Consequences of Hybrid Vehicles
The VC Version of Kick the Can
Serial Entrepreneurs and What Motivates Them
Monthly Dinner With My Brother


Related Forum Posts
Book: Secrets of Six Figure Women Book: Secrets of Six Figure Women - Secrets of Six Figure Women: Surprising Strategies to up your earning and change your life Barbara Stanny, 2002 Jacket: Maybe you've noticed - a subtle trend is gathering steam. Quietly and steadily, the number of women making six figures or more is increasing, and it continues to rise at a rate faster than for men. From entrepreneurs to corporate executives, from white collar executives to free lancers and part timers, women are forging careers with considerable financial success. Through extensive research and hundreds of interviews, including dialogs with more than 150 high earners whose annual incomes range from $100,000 to 7 million, Stanny discovered that ...they all had certain traits in common: 1) a profit motive 2) Audacity 3) REslience 4) Encouragement 5) Self-awareness 6) Non-attachment 7) Financial knowhow She amplifies on these in the book itself. Table of Contents Intro: Welcome to the era of the six-figure woman 1. The Queen in the Countinghouse 2. The Lowdown on low earners 3. Raising the bar 4. Strategy 1: The Declaration of Intention 5. Strategy 2: Letting go of the ledge 6. Strategy 3: Get in the Game 7. Strategy 4: Speak Up 8. Strategy 5: The Stretch 9. Strategy 6: Seek Support 10. Strategy 7: Obey the rules of money 11. Claiming our power Appendces: Resources and websites Tips for getting out of dent Investing Basics: Wealthbuilding 101
Re: What can you do if your franchise is hit by a scandal? Re: What can you do if your franchise is hit by a scandal? - GT - Brilliant Strategy... What can I add? I'm at a loss for words...so I'll shut up now...
Introducing a Learner Introducing a Learner - Hi everybody, It is really my pleasure being around so many Entrepreneurs and strategic minds. Strategy is something I always loved and eager over every new move. Being a newbie I would need your support and I hope I would get that. Thanks Stephen
Re: Kevin's Case Study #6 - Marketing an information resource? Re: Kevin's Case Study #6 - Marketing an information resource? - "Blue Ocean Strategy" sounds like an interesting concept.... Anyone here care to share more on it?
Favourite Business Books Favourite Business Books - The November PROFIT magazine looks at the favourite business books of Canada's most successful entrepreneurs. The top 4 are: 1) Good to Great by Jim Collins 2) The E-Myth by Michael Gerber 3) Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne 4) How to Win Friends and Influence People by Dale Carnegie


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.



Featured Article


Bottom Footer
Share for a Cause












Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

Coaching Tip: Identify Your Core Values

How To Become A Member of the Paparazzi

Work at home Opportunities for the Disabled

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.