Recommended Watch: Why a meaningful mission is key for a successful startup | Austen Allred
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Money isn’t everything: Why a meaningful mission is key for startup success, with Austen Allred
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Money is important for startups and in venture capital, but having a lot of it doesn't make a company successful.
What is actually in short supply is great people, those who can execute on ideas.
To find and retain the best people requires not only paying them well, but ensuring that they are working on something that is impactful or meaningful to them.
Read the video transcript: https://bigthink.com/videos/entrepren...
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About Austen Allred:
Austen Allred is the Co-Founder and CEO of Lambda School. A native of Springville, Utah, Austen’s start-up journey began in 2017 with him living in his two-door Civic while participating in Y Combinator, a San Francisco-based seed accelerator. This experience became the foundation of Lambda School’s rapid growth.Before founding Lambda School, Austen was the co-founder of media platform GrassWire. He co-authored the growth hacking textbook Secret Sauce, which became a best-seller and provided him the personal seed money to build Lambda. Austen’s disruptive ideas on the future of education, the labor market disconnect, and the opportunity of providing opportunity at-scale have been featured in: The Harvard Business Review, The Economist, WIRED, Fast Company, TechCrunch, The New York Times, among others. Austen is fluent in Russian and currently lives in the San Francisco Bay Area with his wife and two kids.
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Unfiltered lessons of a female entrepreneur
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Subscribe to Big Think on YouTube ►► https://www.youtube.com/c/bigthink
Up next ►► The entrepreneur's guide to success https://www.youtube.com/watch?v=iMM3z...
Money is important for startups and in venture capital, but having a lot of it doesn't make a company successful.
What is actually in short supply is great people, those who can execute on ideas.
To find and retain the best people requires not only paying them well, but ensuring that they are working on something that is impactful or meaningful to them.
Read the video transcript: https://bigthink.com/videos/entrepren...
----------------------------------------------------------------------------------
About Austen Allred:
Austen Allred is the Co-Founder and CEO of Lambda School. A native of Springville, Utah, Austen’s start-up journey began in 2017 with him living in his two-door Civic while participating in Y Combinator, a San Francisco-based seed accelerator. This experience became the foundation of Lambda School’s rapid growth.Before founding Lambda School, Austen was the co-founder of media platform GrassWire. He co-authored the growth hacking textbook Secret Sauce, which became a best-seller and provided him the personal seed money to build Lambda. Austen’s disruptive ideas on the future of education, the labor market disconnect, and the opportunity of providing opportunity at-scale have been featured in: The Harvard Business Review, The Economist, WIRED, Fast Company, TechCrunch, The New York Times, among others. Austen is fluent in Russian and currently lives in the San Francisco Bay Area with his wife and two kids.
----------------------------------------------------------------------------------
Read more of our stories on entrepreneur success:
Unfiltered lessons of a female entrepreneur
►► https://bigthink.com/smart-skills/dig...
’Zuckerbergism’: Why the young founder myth is a trap for entrepreneurs
►► https://bigthink.com/the-present/youn...
Anthony Scaramucci: How entrepreneurs can manage fear in times of crisis
►► https://bigthink.com/leadership/entre...
----------------------------------------------------------------------------------
About Big Think | Smarter Faster™
► Big Think
The leading source of expert-driven, educational content. With thousands of videos, featuring experts ranging from Bill Clinton to Bill Nye, Big Think helps you get smarter, faster by exploring the big ideas and core skills that define knowledge in the 21st century.
► Big Think+
Make your business smarter, faster: https://bigthink.com/plus/
----------------------------------------------------------------------------------
Want more Big Think?
► Daily editorial features: https://bigthink.com/popular/
► Get the best of Big Think right to your inbox: https://bigthink.com/st/newsletter
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Francisco Gimeno - BC Analyst Startups fail for many reasons, from lack of capital to a lack of a proper product, or a team, man factors may cause the failure. But a sure failure cause is the lack of a proper mission. Not just a written statement, but a belief, a foundation for the existence of the start up itself, belief on what it's doing because everything is conducive to realise that mission. Wise investors will always ask about the mission before asking about products, profits excel pages or other things. What do you think?