Ask Christa! Business Basics Series (6/6) - What Areas Of A Business Do Founders Overlook? (S3E31) Ask Christa! podcast

Ask Christa! Business Basics Series (6/6) - What Areas of a Business Do Founders Overlook? (S3E31)

13d ago 13:38

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Summary

In this episode, Christa Dhimo addresses the listener question asking what aspects of a business are commonly overlooked by founders. She emphasizes the critical importance of having an executable plan, understanding customer needs, having a sound perspective on business, and the necessity of detailed planning for success. Christa also discusses the unique traits of founders and how they can impact business outcomes, highlighting that success is not solely based on personality but also on effective planning and execution.

Key Takeaways

· Founders often overlook the need for a detailed executable plan.

· Understanding customer demand is crucial for business success.

· Leadership skills are essential for successful founders.

· Commitment and clarity are vital for founders.

· Planning is essential for scaling and expanding a business.

· The personality traits of founders do not solely determine their success.

· Luck and timing play a significant role in entrepreneurship.

· Effective communication of the business idea is vital for attracting support.

· Founders should be ready to articulate their vision clearly.

· Founders should avoid rushing into product development without a plan.

· The early job of a founder is to build a plan that creates value.

Additional Resources

Corasaniti, M. (2025, March 13). 10 reasons why startups fail (and how to avoid them). RingCentral Blog. https://www.ringcentral.com/us/en/blog/why-startups-fail/

Kerr, S. P., PhD, Kerr, W. R., Xu, T., Wellesley College, Harvard Business School, NBER, Wellesley College, Harvard Business School, & NBER. (2017). Personality Traits of Entrepreneurs: A Review of Recent literature (Working Paper 18-047). https://www.hbs.edu/ris/Publication Files/18-047_b0074a64-5428-479b-8c83-16f2a0e97eb6.pdf

Write your business plan. (n.d.). U.S. Small Business Administration. https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

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Chapters

1. Introduction and Listener Question (00:00:00)

2. Many Founders Have Big Ideas (but little care or want of building the plan for the ideas) (00:00:34)

3. Quick Review of Supply and Demand (the drivers of profitability) (00:01:06)

4. Founding Isn’t All About Profits: It’s About Leadership (00:03:32)

5. … And Knowing How to Get Work Done… (00:07:20)

6. Additional Resources (00:08:24)

7. Final Thoughts (00:11:07)

8. Wrap Up & Submitting Your Questions (00:12:26)

35 episodes