Do More Faster

Do More Faster Plot Summary

Introduction

Entrepreneurship is an exhilarating journey filled with uncertainty, challenges, and incredible potential. Many aspiring entrepreneurs find themselves overwhelmed by the sheer volume of decisions to make and paths to take. Should you focus on product development or customer acquisition? When is the right time to seek funding? How do you build the right team? These questions often paralyze first-time founders who desperately want to succeed but don't know where to start. The reality is that building a successful startup requires more than just a brilliant idea or working tirelessly. It demands working smarter, moving with purpose, and learning from those who have traveled the path before you. Throughout these pages, you'll discover practical strategies from successful entrepreneurs who have navigated the treacherous waters of startup life. Their insights will help you avoid common pitfalls, make better decisions, and ultimately do more faster - because in the startup world, speed with direction is often the difference between success and failure.

Chapter 1: Find Your Core Passion and Stay Focused

Passion is the essential fuel that powers entrepreneurs through the inevitable challenges of building a business. When you're genuinely passionate about your venture, the long hours and difficult problems become exciting puzzles to solve rather than burdensome obstacles. This authentic enthusiasm doesn't just sustain your own motivation; it becomes magnetic, attracting talented team members, mentors, and investors who want to join your journey. Kevin Mann, founder of Graphic.ly, exemplifies how passion can drive entrepreneurial success. As an avid comic book fan, his frustration with the traditional comic distribution system became the catalyst for his business. After traveling 100 miles by train to buy the final issue of a comic series only to find it sold out, Kevin had a realization: "There had to be a better way of buying comics." His personal frustration led him to envision a digital platform for comic distribution - essentially "the iTunes of comics." Kevin's deep knowledge of and passion for comics gave him unique insights into what readers wanted, allowing him to create a solution to a problem he intimately understood. This passion-driven approach proved powerful for Kevin and his team. Rather than building yet another generic digital platform, they created something that resonated deeply with comic enthusiasts because it came from authentic understanding. When Graphic.ly launched, they quickly gained traction with both publishers and readers who recognized the value of their digital distribution system. The company successfully raised $1.2 million in funding and eventually brought on Micah Baldwin as CEO to help scale the business. The pattern of passion leading to success appears repeatedly throughout successful startups. Laura Fitton, founder of oneforty (a Twitter apps marketplace), describes how she couldn't quit her idea even when facing significant obstacles as a single mother with no technology management background. She states, "If you can't quit no matter how hard you try, then you have a chance to succeed." This tenacity only comes from genuine passion. To harness your own passion effectively, begin by identifying problems that genuinely frustrate you. What issues do you obsess over? What solutions do you wish existed? Start small with a focused approach to solving a specific problem rather than trying to revolutionize an entire industry overnight. Remember that passion must be paired with focus - attempting to build too many features or serve too many customer segments will dilute your efforts and diminish your impact. The most powerful entrepreneurial journeys begin with identifying your authentic passion and maintaining laser-like focus on solving specific problems within that domain. When challenges arise, as they inevitably will, this genuine connection to your work will provide the resilience needed to persevere while others might abandon ship.

Chapter 2: Seek Mentors and Build Your Support Network

The entrepreneurial journey is challenging, complex, and often isolating. Having experienced guides who can provide perspective, advice, and connections can dramatically accelerate your progress and help you avoid costly mistakes. Mentors aren't just advisors—they become champions for your business, providing critical emotional support during difficult periods and celebrating your victories when they come. Emily Olson, co-founder of Foodzie (an online marketplace for artisan food producers), describes the mentor relationship perfectly: "Starting a company is the hardest thing I've done in my life. It's like I'm walking into a final exam every day that is composed of essay questions on topics I've never studied." Emily explains how mentorship transforms this experience: "Now imagine walking into that same test, but now it's multiple choice and you have someone who already took the same test sitting next to you who is telling you the answer is probably 'a' or 'b.' That's how much easier business gets when you get the help of a great mentor." During their time at TechStars, Emily and her co-founders Rob LaFave and Nik Bauman initially attempted to meet with every available mentor. They quickly realized this wasn't sustainable and shifted their approach to finding mentors with specific expertise relevant to their current challenges. When crafting their business model, they worked with a pricing strategist who helped them avoid amateur mistakes. Later, as their team grew, they engaged a technical mentor to help with hiring processes and technical interviews. This targeted approach to mentorship proved incredibly valuable. Foodzie successfully raised $1 million from First Round Capital, SoftTech VC, Tim Ferriss, and several angel investors. Emily attributes much of their success to having solid mentorship as part of their "secret sauce." The relationship wasn't one-sided, either. Emily emphasizes the importance of closing the feedback loop with mentors—letting them know how their advice was implemented and what results it produced. To build your own effective mentor network, start by identifying specific areas where you need guidance. Seek out individuals with relevant experience and approach them with specific, thoughtful questions rather than general requests for help. Remember that the best mentor relationships are two-way streets—while you're receiving valuable advice, mentors often gain satisfaction from seeing their experience put to good use and staying connected to entrepreneurial energy. When engaging with mentors, be respectful of their time. Come prepared to meetings with clear questions and follow up afterward to share how you've applied their advice. This demonstrates that you value their input and encourages ongoing support. As Brad Feld suggests, "If you want money, ask for advice"—showing genuine interest in learning from potential investors often leads to financial support when they see your receptiveness to guidance. Effective entrepreneurs recognize that they don't need to have all the answers themselves. By building strong mentor relationships and support networks, you create an invaluable resource that will help you navigate challenges, identify opportunities, and ultimately accelerate your path to success.

Chapter 3: Prototype Quickly and Gather Early Feedback

In the entrepreneurial world, speed of execution and learning is often more valuable than perfection. Rather than spending months or years developing a product in isolation, successful entrepreneurs create basic prototypes, put them in front of real users, and iterate based on feedback. This approach reduces waste, accelerates learning, and increases the likelihood of building something people actually want. Greg Reinacker, founder of NewsGator Technologies, exemplifies this philosophy. In 2003, Greg found himself without an RSS aggregator after switching blog software. After searching for a replacement and finding nothing that met his needs, he wondered: "Why can't I simply read my RSS feeds inside of Outlook, where I read everything else?" Instead of agonizing over the perfect solution, Greg quickly built a prototype that displayed some of his feeds in Outlook, took a screenshot, and posted it on his blog on January 4, 2003. The response was immediate and enthusiastic. Encouraged by this feedback, Greg stayed up late the next night working on his prototype and released version 0.1 of the "Outlook News Aggregator" on January 5. Version 0.2 followed on January 6, and by February 23—less than two months after his initial idea—he had released NewsGator 1.0. Throughout this rapid development process, Greg openly discussed features with his audience, incorporating their feedback to improve the product. This rapid prototyping approach paid dividends. On the first day of NewsGator's release, it sold 25 copies at $29 each. The early users who had been involved in the development process became advocates, posting positive reviews and spreading the word. Two months after the 1.0 release, Greg was able to stop his consulting work and focus full-time on NewsGator. Within a year, the company had evolved into a significant business with growing revenue. To implement this strategy in your own venture, start by identifying the smallest possible version of your product that provides value—what's often called a Minimum Viable Product (MVP). Focus on solving one specific problem extremely well rather than attempting to address multiple needs simultaneously. Remember Matt Mullenweg's advice: "Usage is like oxygen for ideas. You can never fully anticipate how an audience is going to react to something you've created until it's out there." When gathering feedback, listen carefully but filter strategically. Not all user suggestions should be implemented—focus on patterns that emerge across multiple users and align with your core vision. Sean Corbett of HaveMyShift learned this lesson while building a shift-trading platform for hourly workers. By speaking directly with Starbucks employees and store managers, he identified the specific features needed for adoption. This focused approach allowed his team to launch within two weeks of writing the first lines of code. The benefits of rapid prototyping extend beyond product improvement. Getting your product into users' hands quickly provides validation (or invalidation) of your core assumptions, generates early revenue, builds credibility with investors, and creates advocates who will help spread the word. By embracing imperfection and focusing on learning rather than perfection, you'll dramatically increase your chances of building something people truly value.

Chapter 4: Measure What Matters with Smart Metrics

In the digital age, entrepreneurs have unprecedented access to data about their businesses. However, this abundance of information can quickly become overwhelming without a disciplined approach to measurement. Successful entrepreneurs identify and track metrics that genuinely reflect progress toward their most important goals, rather than vanity metrics that might look impressive but don't correlate with business success. Dave McClure, angel investor and startup advisor, emphasizes that Internet businesses have a unique advantage in their ability to collect real-time data and feedback. He argues that startup success comes down to doing two things well: making money and making users happy. To measure these effectively, McClure advocates focusing on five key metrics that he calls "AARRR" (pronounced like a pirate): Acquisition, Activation, Retention, Referral, and Revenue. For Next Big Sound, a company providing music analytics and insights, focusing on the right metrics was transformational. When founder Alex White and his team entered TechStars in 2009, they were working on a completely different product—a website that let anyone play the role of a record mogul and sign bands to their fantasy label. After recognizing that this concept wasn't gaining traction, they pivoted to building an analytics platform for the music industry. Throughout their pivot, they obsessively tracked user engagement metrics to understand what features were resonating. They organized their data in ways that made sense to band managers, but continued iterating based on feedback. When users suggested they model their interface after popular web analytics products like Compete and Quantcast, they quickly implemented these changes and saw immediate improvements in user adoption. This metrics-driven approach helped Next Big Sound secure approximately $1 million in funding from Foundry Group, Alsop-Louie Partners, and SoftTechVC after completing TechStars. By focusing on metrics that demonstrated value to their target market rather than vanity statistics, they built a product that solved real problems for the music industry. To implement effective measurement in your startup, begin by identifying your most critical business objectives. For an e-commerce business, this might be conversion rate and average order value, while a subscription service might focus on monthly recurring revenue and churn rate. Eric Ries, founder of IMVU and creator of the Lean Startup methodology, emphasizes "validated learning" as the true measure of progress—concrete evidence that your business hypotheses are correct. Avoid the trap of measuring everything simply because you can. Instead, create a simple dashboard with no more than 5-7 key metrics that directly correlate with your business success. Review these metrics regularly with your team, using them to guide decision-making rather than merely tracking them. When metrics aren't moving in the right direction, use this as a signal to investigate and potentially pivot your approach. Remember that metrics should serve your business goals, not the other way around. As Dick Costolo, former CEO of Twitter, advises: "Focus on what matters." By identifying and obsessing over the metrics that truly indicate progress toward your most important goals, you'll make better decisions and dramatically increase your chances of building a successful business.

Chapter 5: Execute With Purpose While Adapting to Change

Entrepreneurship requires a delicate balance between determined execution and flexible adaptation. The most successful founders develop a remarkable ability to move quickly with purpose while simultaneously remaining open to new information that might suggest a change in direction. This paradoxical skill—decisive action coupled with adaptive thinking—is often what separates thriving startups from those that stagnate or fail. David Cohen, co-founder and CEO of TechStars, encapsulates this philosophy in his mantra "Do More Faster." As he explains, startups operate at a disadvantage compared to established companies in terms of resources, credibility, and customer base. Their one competitive advantage is speed—the ability to learn, iterate, and adapt more quickly than larger organizations constrained by bureaucracy and fear of failure. Occipital, a computer vision company that went through TechStars in 2008, demonstrates this principle in action. Co-founders Jeff Powers and Vikas Reddy found themselves in a dire situation after their initial product ideas failed to gain traction. With dwindling funds and mounting legal bills, they faced potential business failure. Rather than giving up or stubbornly persisting with a failing approach, they pivoted quickly to develop a smaller, more focused application called ClearCam for the iPhone. This initial pivot made them cash-flow positive but didn't satisfy their ambitions. They continued experimenting and developed RedLaser, an iPhone barcode scanner that used computer vision to compensate for blur. This product became wildly successful, claiming a position in the top five paid applications on the App Store for months. By executing quickly on smaller initiatives while remaining adaptable to market feedback, Occipital established a strong foundation that eventually allowed them to pursue their larger vision. To develop this dual capability in your own venture, start by establishing clear short-term objectives that support your long-term vision. Break these down into weekly or even daily goals that create momentum and allow for regular assessment. Create simple processes for tracking progress and identifying bottlenecks without adding bureaucratic overhead that slows execution. Simultaneously, build in regular checkpoints to assess whether your current direction remains optimal. Rob Hayes of First Round Capital advises: "There is one thing that the hundreds of founders I meet each year have in common, and that is that their plan is wrong." Recognizing this reality, smart entrepreneurs create feedback loops that allow them to identify when pivots are necessary. Niel Robertson, founder of Trada, offers a powerful insight: "As long as I listen to my customers, I never need to have another original idea." By maintaining close contact with customers and truly listening to their needs, you can execute with confidence while still adapting your approach based on real-world feedback. The ability to execute decisively while remaining adaptable isn't a natural skill for most people—it requires conscious development. Practice making decisions with incomplete information, setting clear timeframes for assessment, and being honest about what's working and what isn't. As Howard Diamond advises, "Assume that you're wrong" and approach each decision as a hypothesis to be tested rather than a commitment to be defended. By combining purposeful execution with thoughtful adaptation, you'll navigate the inevitable twists and turns of entrepreneurship more effectively than competitors who either move too slowly or change direction too frequently.

Chapter 6: Maintain Balance and Sustainable Growth

The entrepreneurial journey is often portrayed as an all-consuming mission requiring complete sacrifice of personal life, health, and relationships. While building a successful company certainly demands extraordinary commitment, the most effective entrepreneurs recognize that sustainable success requires maintaining balance. Without adequate rest, healthy relationships, and occasional disconnection from work, founders risk burnout, poor decision-making, and ultimately, business failure. Brad Feld, managing director at Foundry Group and co-founder of TechStars, learned this lesson the hard way. He describes his early career: "I started my first company when I was 19 and in college at MIT. I was obsessive, worked incredibly hard, and, while I generally had a lot of fun, was almost always maxed out." This unsustainable approach led to a failed marriage, physical deterioration, and regular burnout cycles where he would "completely crash from the effort" every six months. The turning point came at age 34 when his wife Amy told him, "I'm done. I'm not mad; I just don't want to do this anymore. You either have to change, or it's over." This ultimatum forced Brad to reconsider his approach to work and life. Together, they developed a set of habits including quarterly week-long vacations completely disconnected from technology, monthly "life dinners" to discuss the previous month and plan for the coming one, and creating separate spaces for work and relaxation within their homes. These changes didn't diminish Brad's professional success—they enhanced it. By creating space for rest and reflection, he gained perspective that improved his decision-making. By nurturing his relationship with Amy, he built a support system that helped him weather the inevitable challenges of entrepreneurship. By taking care of his physical health, he increased his energy and mental clarity for the work that truly mattered. Andy Smith, founder of DailyBurn, offers practical advice for maintaining health during the intense startup phase: "Exercise five to six days a week... eat healthy meals at least 80 percent of the time... aim for at least seven hours of sleep a night." He emphasizes that these habits aren't luxuries but necessities: "Just like preparing for any race or athletic event, you need to prepare your body for the extra stress that happens when you start a business." Establishing sustainable work patterns starts with recognizing that entrepreneurship is a marathon, not a sprint. While there will be periods of intense work—particularly during product launches or fundraising—these should be balanced with periods of recovery. Create boundaries around your work by establishing specific work hours and technology-free zones or times. Schedule regular breaks away from your business, even if only for a day or two initially. Remember that work-life balance looks different for everyone. Some entrepreneurs thrive on working long hours six days a week with one day completely disconnected, while others prefer more consistent daily boundaries. The key is finding a sustainable rhythm that works for you and your specific circumstances, then protecting that rhythm even as your business grows more demanding. As Amy Batchelor, Brad Feld's wife, wisely notes: "The emotional, spiritual, foofy reasons to go away are at least as important as considerations of increased efficiency." By maintaining balance between work and other aspects of life, you'll not only preserve your health and relationships but also bring greater creativity, perspective, and energy to your business—ultimately increasing your chances of long-term success.

Summary

The entrepreneurial path presents both extraordinary challenges and unparalleled opportunities for those brave enough to venture down it. Throughout these pages, we've explored essential strategies for navigating this journey successfully: finding your authentic passion, building strong mentor relationships, prototyping quickly, measuring what truly matters, executing with both purpose and adaptability, and maintaining sustainable balance. Each of these approaches helps entrepreneurs overcome the obstacles that prevent most startups from reaching their potential. As Mark Pincus, founder of Zynga, powerfully articulates: "There are few things as rewarding as starting a business from nothing, creating jobs, and building something that matters." The most successful entrepreneurs understand that success isn't merely about working harder but working smarter. They focus relentlessly on what matters most, learn continuously from both successes and failures, and build sustainable practices that enable long-term growth. Your entrepreneurial journey begins today—start by identifying one strategy from this book that resonates most strongly with your current situation and implement it immediately. Remember that in the startup world, action always trumps intention, and your next success may be just one bold move away.

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Brad Feld

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