The Impactful Leadership Show

Restructuring the Entrepreneur Experiment - Neil Shah - The Impactful Leadership Show - Episode #018

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Your company needs a process for testing out new ideas and solutions. Neil Shah knows all about designing experiments and is involved in venture capital investing while also serving as the CEO of ThinkNimble. Neil shares insights on the nature of leadership, how entrepreneurs need to think about experiments in their companies, and how to set your company apart when raising capital.

 

Takeaways:

  • Leadership is not an exact science. Leadership is a series of one-on-one connections between individuals that scale. It is more nuanced and interpersonal than simply defining processes and building structures.
  • When comparing a product-based business with a technology or service-based business, 90% of what makes the business work is the same between them, it’s the 10% that makes them distinct.
  • Fundamentally, the business process is just a series of experiments to test hypotheses using specific variables. To become more effective in the business world, you need to gain experience from running disciplined codified experiments. 
  • Many entrepreneurs “experiment” using erratic behavior, however, you will produce more effective results by learning how to be a scientist and using a structured approach to how you think and experiment.
  • Companies looking to raise capital need to go beyond the boilerplate 10-page slide deck. Instead, consider presenting the 10 things that need to be true for your business to be successful and what experiments you are running to prove those 10 things to be true.
  • When pitching your very unique and novel company, don’t do it in the same way that every other company is being presented. Think about what format and messaging would represent your company’s originality better and make it stick out. 
  • In order to properly develop a successful software application that can fulfill a human process, you first need to have a great understanding of that human process.

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    Quote of the Show:

    • “Leadership is just a series of connections between individual people. It's one-on-one relationships that kind of scale” - Neil Shah

     

    Links:

  • LinkedIn: https://www.linkedin.com/in/neilshah8/
  • Company website: https://www.thinknimble.com/
  • Company website: https://www.kstreet.vc/
  • Company website: https://nextgenvp.com/

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    Shout Outs:

    • Nick Milo - Linking Your Thinking: https://www.youtube.com/channel/UC85D7ERwhke7wVqskV_DZUA
  • Obsidian - Personal knowledge management app
  • Evernote - Personal knowledge management app

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